Sound Income Strategies LLC Acquires 6,080 Shares of Entergy Co. (NYSE:ETR)

Sound Income Strategies LLC boosted its stake in Entergy Co. (NYSE:ETR) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,425 shares of the utilities provider’s stock after acquiring an additional 6,080 shares during the period. Sound Income Strategies LLC’s holdings in Entergy were worth $9,345,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ETR. Tidemark LLC bought a new stake in shares of Entergy during the 4th quarter valued at $25,000. Fortis Group Advisors LLC bought a new position in Entergy during the 3rd quarter valued at approximately $32,000. OLD Point Trust & Financial Services N A purchased a new position in Entergy during the fourth quarter valued at $35,000. CVA Family Office LLC bought a new stake in Entergy in the fourth quarter worth $41,000. Finally, Able Wealth Management LLC purchased a new stake in shares of Entergy in the fourth quarter worth $43,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ETR. BMO Capital Markets upped their price target on shares of Entergy from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Morgan Stanley cut their price target on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a report on Monday. Wells Fargo & Company boosted their price objective on shares of Entergy from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. KeyCorp increased their target price on Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and issued a $109.50 price target (down previously from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus price target of $113.73.

Entergy Stock Performance

Shares of NYSE:ETR traded down $0.20 during trading on Wednesday, hitting $106.45. The company’s stock had a trading volume of 935,553 shares, compared to its average volume of 1,535,620. The company has a 50-day moving average of $108.76 and a 200-day moving average of $104.22. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45. The firm has a market cap of $22.73 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 2.02 and a beta of 0.73. Entergy Co. has a 12 month low of $87.10 and a 12 month high of $114.28.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a return on equity of 10.20% and a net margin of 17.75%. The business had revenue of $31.17 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the business earned $1.14 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, sell-side analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Thursday, May 2nd were paid a dividend of $1.13 per share. The ex-dividend date was Wednesday, May 1st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.25%. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 1,500 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the sale, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the transaction, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at $235,465.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Haley Fisackerly sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total transaction of $165,345.00. Following the transaction, the insider now directly owns 2,479 shares of the company’s stock, valued at $273,260.17. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

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.