Point View Wealth Management Inc. lowered its stake in Entergy Co. (NYSE:ETR) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,479 shares of the utilities provider’s stock after selling 214 shares during the period. Point View Wealth Management Inc.’s holdings in Entergy were worth $297,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. NuWave Investment Management LLC increased its holdings in shares of Entergy by 957.1% during the third quarter. NuWave Investment Management LLC now owns 296 shares of the utilities provider’s stock worth $35,000 after buying an additional 268 shares in the last quarter. Private Ocean LLC bought a new stake in Entergy during the 3rd quarter worth $35,000. Thor Advisors LLC acquired a new position in Entergy in the 3rd quarter worth about $52,000. Selective Wealth Management Inc. acquired a new position in Entergy in the 3rd quarter worth about $58,000. Finally, Global Retirement Partners LLC increased its holdings in Entergy by 170.7% in the 3rd quarter. Global Retirement Partners LLC now owns 509 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 86.21% of the company’s stock.
ETR traded up $0.89 during midday trading on Friday, hitting $134.13. 1,638,491 shares of the company were exchanged, compared to its average volume of 1,137,759. The firm’s 50 day moving average price is $125.84 and its 200-day moving average price is $117.66. Entergy Co. has a 1-year low of $88.83 and a 1-year high of $133.83. The firm has a market capitalization of $26.27 billion, a P/E ratio of 33.53, a P/E/G ratio of 3.40 and a beta of 0.25. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 1.69.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 13th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $3.72 annualized dividend and a dividend yield of 2.77%. Entergy’s payout ratio is 50.89%.
A number of analysts have recently commented on the company. UBS Group lowered Entergy from a “buy” rating to a “neutral” rating and lifted their price target for the company from $115.00 to $126.00 in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed a “hold” rating and issued a $118.00 price objective on shares of Entergy in a research note on Monday, January 20th. Citigroup raised their price objective on shares of Entergy from $134.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Bank of America lifted their target price on shares of Entergy from $125.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, KeyCorp boosted their target price on shares of Entergy from $128.00 to $129.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Entergy currently has a consensus rating of “Buy” and a consensus target price of $121.64.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
Further Reading: Buy-Side Analysts
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