MAI Capital Management Purchases 587 Shares of Entergy Corporation $ETR

MAI Capital Management grew its holdings in shares of Entergy Corporation (NYSE:ETR) by 26.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,831 shares of the utilities provider’s stock after buying an additional 587 shares during the period. MAI Capital Management’s holdings in Entergy were worth $235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETR. Mesirow Financial Investment Management Inc. boosted its stake in Entergy by 3.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 3,864 shares of the utilities provider’s stock worth $321,000 after acquiring an additional 116 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Entergy by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 41,397 shares of the utilities provider’s stock valued at $3,377,000 after purchasing an additional 118 shares in the last quarter. My Legacy Advisors LLC lifted its holdings in shares of Entergy by 0.8% during the second quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider’s stock valued at $1,361,000 after purchasing an additional 128 shares during the last quarter. New Hampshire Trust boosted its position in shares of Entergy by 3.6% in the 2nd quarter. New Hampshire Trust now owns 4,103 shares of the utilities provider’s stock worth $341,000 after purchasing an additional 141 shares in the last quarter. Finally, Mattson Financial Services LLC grew its stake in shares of Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after buying an additional 150 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ralph Lewis Ropp purchased 1,000 shares of the stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average cost of $96.69 per share, with a total value of $96,690.00. Following the acquisition, the director directly owned 1,050 shares of the company’s stock, valued at $101,524.50. This represents a 2,000.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anastasia Minor sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the sale, the insider owned 10,122 shares of the company’s stock, valued at approximately $975,659.58. This trade represents a 33.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 10,179 shares of company stock valued at $981,707 in the last ninety days. 0.39% of the stock is currently owned by company insiders.

Entergy Price Performance

Shares of NYSE:ETR opened at $96.73 on Friday. Entergy Corporation has a fifty-two week low of $73.15 and a fifty-two week high of $98.58. The business has a 50-day simple moving average of $95.06 and a two-hundred day simple moving average of $88.76. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71. The firm has a market cap of $43.20 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 2.40 and a beta of 0.63.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. The firm had revenue of $2.37 billion for the quarter. On average, analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.64 per share. The ex-dividend date is Thursday, November 13th. This represents a $2.56 dividend on an annualized basis and a yield of 2.6%. This is a boost from Entergy’s previous quarterly dividend of $0.60. Entergy’s dividend payout ratio (DPR) is presently 63.21%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and set a $104.00 price objective (up previously from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. Mizuho lifted their price target on Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. upped their price target on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Bank of America raised their price objective on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, Scotiabank set a $105.00 target price on shares of Entergy and gave the stock an “outperform” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Entergy currently has an average rating of “Moderate Buy” and a consensus price target of $102.47.

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.