WCM Investment Management LLC Grows Holdings in Entergy Co. (NYSE:ETR)

WCM Investment Management LLC grew its stake in shares of Entergy Co. (NYSE:ETR) by 324.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,942 shares of the utilities provider’s stock after purchasing an additional 14,482 shares during the quarter. WCM Investment Management LLC’s holdings in Entergy were worth $2,484,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Fortitude Family Office LLC boosted its position in Entergy by 423.8% in the 3rd 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 period. Cetera Trust Company N.A purchased a new stake in shares of Entergy in the third quarter valued at approximately $29,000. Iron Horse Wealth Management LLC bought a new position in Entergy in the second quarter worth approximately $25,000. Heritage Wealth Advisors increased its holdings in Entergy by 2,172.7% during the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 239 shares during the period. Finally, American National Bank raised its position in Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 134 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Performance

ETR opened at $150.35 on Tuesday. The firm’s 50-day moving average price is $132.34 and its 200-day moving average price is $118.72. The company has a market cap of $32.24 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 2.49 and a beta of 0.71. 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 Co. has a 52-week low of $94.85 and a 52-week high of $156.85.

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

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a yield of 3.19%. This is a boost from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is currently 55.05%.

Insider Buying and Selling at Entergy

In other news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $122.56, for a total value of $398,320.00. Following the completion of the transaction, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,288,742.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,092,241.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of Entergy stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $122.56, for a total value of $398,320.00. Following the transaction, the chief operating officer now owns 34,993 shares of the company’s stock, valued at approximately $4,288,742.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,338 shares of company stock worth $4,460,238. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on ETR shares. Argus upgraded Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and boosted their price target for the company from $138.00 to $154.00 in a report on Monday, November 4th. Barclays increased their price objective on shares of Entergy from $137.00 to $152.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Scotiabank boosted their price objective on shares of Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Finally, Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $116.00 to $150.00 in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Entergy Company 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.