HBK Sorce Advisory LLC Boosts Holdings in Entergy Co. (NYSE:ETR)

HBK Sorce Advisory LLC boosted its position in shares of Entergy Co. (NYSE:ETR) by 2.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,075 shares of the utilities provider’s stock after purchasing an additional 92 shares during the period. HBK Sorce Advisory LLC’s holdings in Entergy were worth $436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ETR. Tidemark LLC bought a new stake in shares of Entergy during the fourth quarter valued at approximately $25,000. Iron Horse Wealth Management LLC bought a new stake in shares of Entergy in the 2nd quarter worth $25,000. Heritage Wealth Advisors raised its stake in shares of Entergy by 2,172.7% in the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 239 shares during the last quarter. American National Bank lifted its holdings in shares of Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 134 shares in the last quarter. Finally, TruNorth Capital Management LLC bought a new position in shares of Entergy during the second quarter valued at $32,000. 88.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at $18,307,787.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the completion of the transaction, the chief operating officer now owns 37,888 shares in the company, valued at $4,363,182.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction on Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at $18,307,787.26. The disclosure for this sale can be found here. Insiders have sold 42,888 shares of company stock worth $5,110,766 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Entergy Stock Up 2.9 %

NYSE ETR opened at $127.09 on Friday. The stock’s 50-day moving average price is $116.32 and its 200-day moving average price is $109.92. The company has a market capitalization of $27.18 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 2.31 and a beta of 0.73. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $127.34.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.16. The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, equities research analysts predict that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were issued a dividend of $1.13 per share. The ex-dividend date was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.56%. Entergy’s dividend payout ratio is presently 45.34%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Scotiabank boosted their target price on Entergy from $115.00 to $119.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Mizuho raised their target price on shares of Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Barclays decreased their target price on shares of Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $109.50 price target (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Finally, Argus upgraded Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.04.

Entergy Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.