Sound Income Strategies LLC Has $12.95 Million Holdings in Entergy Co. (NYSE:ETR)

Sound Income Strategies LLC grew its stake in shares of Entergy Co. (NYSE:ETR) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,377 shares of the utilities provider’s stock after acquiring an additional 4,027 shares during the period. Sound Income Strategies LLC’s holdings in Entergy were worth $12,947,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its position in shares of Entergy by 6.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock valued at $25,275,000 after buying an additional 13,882 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Entergy by 55.4% in the first quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock valued at $1,571,000 after buying an additional 5,303 shares in the last quarter. Viking Fund Management LLC raised its position in Entergy by 6.3% during the first quarter. Viking Fund Management LLC now owns 125,600 shares of the utilities provider’s stock valued at $13,273,000 after purchasing an additional 7,400 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Entergy during the first quarter valued at approximately $1,245,000. Finally, Cetera Advisors LLC raised its position in Entergy by 145.2% during the first quarter. Cetera Advisors LLC now owns 24,136 shares of the utilities provider’s stock valued at $2,551,000 after purchasing an additional 14,293 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on ETR. Morgan Stanley boosted their price objective on shares of Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Bank of America boosted their target price on shares of Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Argus raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Guggenheim boosted their target price on shares of Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, UBS Group boosted their target price on shares of Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Entergy has a consensus rating of “Moderate Buy” and a consensus price target of $128.50.

Insider Buying and Selling

In other Entergy news, insider Eliecer Viamontes sold 5,166 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the sale, the insider now directly owns 5,117 shares in the company, valued at $614,040. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the sale, the insider now owns 5,117 shares in the company, valued at approximately $614,040. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,810 shares of company stock valued at $6,140,626. Company insiders own 0.39% of the company’s stock.

Entergy Stock Up 1.2 %

ETR stock traded up $1.58 during trading on Friday, reaching $130.64. The stock had a trading volume of 879,433 shares, compared to its average volume of 1,571,335. Entergy Co. has a one year low of $90.78 and a one year high of $133.38. The company’s 50 day moving average is $123.94 and its two-hundred day moving average is $113.82. The company has a market capitalization of $27.90 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 2.46 and a beta of 0.74. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the firm earned $1.84 EPS. Equities research analysts forecast that Entergy Co. will post 7.22 EPS for the current year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

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.