StoneX Group Inc. Raises Stake in Entergy Corporation (NYSE:ETR)

StoneX Group Inc. grew its position in Entergy Corporation (NYSE:ETR - Free Report) by 34.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,152 shares of the utilities provider's stock after buying an additional 4,958 shares during the period. StoneX Group Inc.'s holdings in Entergy were worth $2,521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETR. Iron Horse Wealth Management LLC purchased a new stake in Entergy in the second quarter valued at $25,000. Cetera Trust Company N.A purchased a new stake in Entergy in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC lifted its position in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider's stock valued at $29,000 after buying an additional 178 shares during the last quarter. American National Bank boosted its stake in Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider's stock worth $30,000 after buying an additional 134 shares during the period. Finally, Coastline Trust Co acquired a new stake in shares of Entergy during the third quarter valued at about $31,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of research analyst reports. UBS Group increased their price objective on shares of Entergy from $143.00 to $144.00 and gave the stock a "buy" rating in a research report on Friday, September 20th. Scotiabank boosted their price objective on Entergy from $119.00 to $144.00 and gave the company a "sector perform" rating in a report on Friday, November 1st. Barclays raised their target price on Entergy from $137.00 to $152.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Royal Bank of Canada boosted their price target on shares of Entergy from $137.00 to $140.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Entergy from $131.00 to $141.00 and gave the company an "overweight" rating in a research note on Monday, August 12th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Entergy has a consensus rating of "Moderate Buy" and a consensus price target of $150.42.

Insider Activity

In other news, insider Eliecer Viamontes sold 200 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $147.00, for a total value of $29,400.00. Following the completion of the sale, the insider now owns 4,173 shares in the company, valued at approximately $613,431. This trade represents a 4.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew S. Marsh sold 19,200 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares of the company's stock, valued at approximately $18,140,475.85. The trade was a 11.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,472 shares of company stock valued at $5,076,328. 0.39% of the stock is currently owned by company insiders.

Entergy Stock Down 0.3 %

Entergy stock traded down $0.49 during midday trading on Friday, reaching $151.06. The company's stock had a trading volume of 1,850,035 shares, compared to its average volume of 2,233,452. The business has a 50-day simple moving average of $137.74 and a 200-day simple moving average of $121.57. The company has a market cap of $32.39 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.53 and a beta of 0.71. Entergy Corporation has a fifty-two week low of $96.15 and a fifty-two week high of $156.85. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR - Get Free Report) last posted its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. The firm had revenue of $3.39 billion during the quarter, compared to analysts' expectations 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 previous year, the business earned $3.27 earnings per share. On average, research analysts expect that Entergy Corporation will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be given a $1.20 dividend. The ex-dividend date is Wednesday, November 13th. This is a boost from Entergy's previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.18%. Entergy's dividend payout ratio is 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.