Entergy Corporation $ETR Stock: International Assets Investment Management LLC Boosts Position

International Assets Investment Management LLC raised its holdings in Entergy Corporation (NYSE:ETR) by 3,035.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 128,000 shares of the utilities provider’s stock after acquiring an additional 123,918 shares during the period. International Assets Investment Management LLC’s holdings in Entergy were worth $12,705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ETR. Bell Investment Advisors Inc purchased a new stake in shares of Entergy during the 2nd quarter valued at approximately $28,000. City State Bank grew its stake in Entergy by 439.6% in the 3rd quarter. City State Bank now owns 259 shares of the utilities provider’s stock valued at $26,000 after buying an additional 211 shares in the last quarter. Pingora Partners LLC purchased a new position in Entergy in the 2nd quarter valued at approximately $30,000. Bank of New Hampshire raised its holdings in Entergy by 303.0% during the 3rd quarter. Bank of New Hampshire now owns 266 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Finally, Dynamic Wealth Strategies LLC bought a new stake in Entergy during the 1st quarter valued at $30,000. Institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Shares of NYSE:ETR opened at $109.93 on Friday. The stock has a market cap of $51.30 billion, a PE ratio of 28.19, a PEG ratio of 2.46 and a beta of 0.46. The company’s fifty day moving average is $104.36 and its 200 day moving average is $107.30. Entergy Corporation has a 52 week low of $90.87 and a 52 week high of $118.44. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.02. Entergy had a net margin of 13.40% and a return on equity of 10.53%. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. Research analysts anticipate that Entergy Corporation will post 4.40 earnings per share for the current year.

Analysts Set New Price Targets

ETR has been the subject of several analyst reports. Morgan Stanley raised their target price on Entergy from $98.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 21st. UBS Group increased their price target on shares of Entergy from $129.00 to $138.00 and gave the stock a “buy” rating in a report on Monday, July 6th. JPMorgan Chase & Co. cut their price objective on shares of Entergy from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, October 13th. Barclays restated an “overweight” rating and issued a $115.00 price objective (down from $128.00) on shares of Entergy in a research report on Monday, October 19th. Finally, Scotiabank reduced their target price on Entergy from $129.00 to $121.00 and set an “outperform” rating for the company in a research report on Wednesday, September 30th. Twenty investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.25.

Insider Transactions at Entergy

In related news, Director Ralph Lewis Ropp bought 1,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $106.08 per share, with a total value of $106,080.00. Following the purchase, the director owned 3,423 shares in the company, valued at approximately $363,111.84. The trade was a 41.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Laura R. Landreaux sold 5,600 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $106.20, for a total value of $594,720.00. Following the sale, the insider owned 22,589 shares of the company’s stock, valued at $2,398,951.80. This represents a 19.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

Entergy Company Profile

Entergy Corporation is an integrated energy company that operates as a regulated electric utility. Through its operating companies, the company generates, transmits and distributes electricity to residential, commercial, industrial and governmental customers. Its generation portfolio includes nuclear, natural gas, renewable and other power resources, while its transmission and distribution networks deliver electricity across its service territories.

Entergy serves customers in Arkansas, Louisiana, Mississippi and Texas, including the New Orleans area through Entergy New Orleans.