Element Wealth LLC Buys Shares of 1,830 Entergy Co. (NYSE:ETR)

Element Wealth LLC purchased a new stake in shares of Entergy Co. (NYSE:ETR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,830 shares of the utilities provider’s stock, valued at approximately $241,000.

A number of other large investors have also recently made changes to their positions in the stock. Bank & Trust Co lifted its holdings in Entergy by 12.8% in the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 90 shares in the last quarter. HBK Sorce Advisory LLC raised its position in shares of Entergy by 2.3% during the second quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock valued at $436,000 after buying an additional 92 shares during the last quarter. Alliance Wealth Advisors LLC lifted its holdings in shares of Entergy by 3.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider’s stock worth $341,000 after buying an additional 92 shares in the last quarter. Marino Stram & Associates LLC boosted its position in shares of Entergy by 1.6% during the third quarter. Marino Stram & Associates LLC now owns 5,986 shares of the utilities provider’s stock worth $788,000 after acquiring an additional 95 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in Entergy by 5.4% during the third quarter. CarsonAllaria Wealth Management Ltd. now owns 1,858 shares of the utilities provider’s stock valued at $245,000 after acquiring an additional 95 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Trading Up 0.4 %

Shares of ETR opened at $137.46 on Friday. Entergy Co. has a twelve month low of $90.78 and a twelve month high of $137.70. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The company’s fifty day simple moving average is $126.75 and its 200-day simple moving average is $115.48. The company has a market cap of $29.39 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.55 and a beta of 0.74.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the company posted $1.84 EPS. As a group, analysts expect that Entergy Co. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the transaction, the chief executive officer now owns 150,731 shares in the company, valued at $18,307,787.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,092,241.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,810 shares of company stock worth $6,140,626. 0.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ETR. UBS Group boosted their price target on shares of Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada increased their price target on Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Bank of America lifted their price objective on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Scotiabank increased their target price on Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Guggenheim boosted their price target on shares of Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.19.

Entergy Company 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.