QRG Capital Management Inc. Buys 56,964 Shares of Entergy Co. (NYSE:ETR)

QRG Capital Management Inc. boosted its stake in shares of Entergy Co. (NYSE:ETR - Free Report) by 80.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,034 shares of the utilities provider's stock after purchasing an additional 56,964 shares during the period. QRG Capital Management Inc. owned approximately 0.06% of Entergy worth $16,851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Iron Horse Wealth Management LLC acquired a new position in shares of Entergy in the 2nd quarter worth approximately $25,000. Heritage Wealth Advisors increased its stake in Entergy by 2,172.7% during the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 239 shares during the last quarter. Cetera Trust Company N.A acquired a new stake in shares of Entergy during the third quarter worth $29,000. Fortitude Family Office LLC lifted its position in shares of Entergy by 423.8% in the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider's stock worth $29,000 after buying an additional 178 shares during the last quarter. Finally, American National Bank boosted its holdings in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider's stock valued at $30,000 after buying an additional 134 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Scotiabank upped their price target on shares of Entergy from $119.00 to $144.00 and gave the stock a "sector perform" rating in a research report on Friday. Wells Fargo & Company lifted their price target on Entergy from $137.00 to $170.00 and gave the company an "overweight" rating in a report on Friday. KeyCorp increased their price objective on Entergy from $143.00 to $162.00 and gave the stock an "overweight" rating in a report on Friday. Argus raised Entergy to a "strong-buy" rating in a research note on Wednesday, August 28th. Finally, Guggenheim lifted their price objective on shares of Entergy from $145.00 to $165.00 and gave the company a "buy" rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Entergy has a consensus rating of "Moderate Buy" and a consensus price target of $150.96.

Insider Transactions at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the completion of the transaction, the chief operating officer now owns 34,993 shares of the company's stock, valued at approximately $4,549,090. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the transaction, the chief operating officer now owns 34,993 shares of the company's stock, valued at approximately $4,549,090. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction 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 90 days, insiders sold 47,610 shares of company stock worth $5,751,954. 0.54% of the stock is owned by company insiders.

Entergy Stock Up 2.5 %

Shares of Entergy stock traded up $3.52 during trading on Tuesday, reaching $145.95. 1,586,146 shares of the company traded hands, compared to its average volume of 1,605,305. The firm has a market capitalization of $31.21 billion, a PE ratio of 17.78, a P/E/G ratio of 2.74 and a beta of 0.71. Entergy Co. has a 1-year low of $94.85 and a 1-year high of $156.85. The company has a 50 day moving average price of $130.72 and a 200-day moving average price of $117.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.08. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same quarter in the prior year, the company posted $3.27 earnings per share. As a group, equities research analysts expect that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. This is an increase from Entergy's previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, November 13th. Entergy's dividend payout ratio is currently 58.47%.

About Entergy

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.