American International Group Inc. Sells 499 Shares of Entergy Co. (NYSE:ETR)

American International Group Inc. lessened its stake in shares of Entergy Co. (NYSE:ETR) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 55,456 shares of the utilities provider’s stock after selling 499 shares during the period. American International Group Inc.’s holdings in Entergy were worth $5,612,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ETR. Norges Bank acquired a new stake in shares of Entergy in the 4th quarter valued at approximately $127,675,000. Franklin Resources Inc. grew its position in shares of Entergy by 25.2% in the 4th quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock valued at $400,901,000 after acquiring an additional 796,316 shares during the period. ClearBridge Investments Ltd grew its position in shares of Entergy by 29.3% in the 4th quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock valued at $315,254,000 after acquiring an additional 706,059 shares during the period. Bank of Nova Scotia raised its holdings in shares of Entergy by 2,786.9% in the 3rd quarter. Bank of Nova Scotia now owns 492,613 shares of the utilities provider’s stock valued at $45,567,000 after purchasing an additional 475,549 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Entergy by 220.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 685,186 shares of the utilities provider’s stock valued at $69,334,000 after purchasing an additional 471,291 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 2,479 shares of the company’s stock, valued at approximately $273,260.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the transaction, the insider now owns 2,479 shares of the company’s stock, valued at approximately $273,260.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was 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 directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Entergy Stock Performance

Shares of NYSE:ETR opened at $105.78 on Friday. Entergy Co. has a 12-month low of $87.10 and a 12-month high of $114.28. The company’s 50 day moving average price is $108.53 and its two-hundred day moving average price is $104.11. The firm has a market cap of $22.59 billion, a PE ratio of 10.61, a PEG ratio of 2.00 and a beta of 0.73. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.68.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The company had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. Entergy had a return on equity of 10.20% and a net margin of 17.75%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 EPS. Equities research analysts predict that Entergy Co. will post 7.23 earnings per share for the current year.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Thursday, May 2nd were given a dividend of $1.13 per share. The ex-dividend date was Wednesday, May 1st. This represents a $4.52 annualized dividend and a yield of 4.27%. Entergy’s dividend payout ratio is 45.34%.

Analyst Ratings Changes

A number of brokerages have weighed in on ETR. Barclays boosted their price target on Entergy from $107.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Morgan Stanley increased their price target on Entergy from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $109.50 price objective (down from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Scotiabank dropped their price objective on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, BMO Capital Markets lifted their target price on shares of Entergy from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and a consensus target price of $114.12.

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.