Brookstone Capital Management Sells 25,636 Shares of Entergy Co. (NYSE:ETR)

Brookstone Capital Management cut its holdings in shares of Entergy Co. (NYSE:ETR) by 20.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,108 shares of the utilities provider’s stock after selling 25,636 shares during the period. Brookstone Capital Management’s holdings in Entergy were worth $10,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Kestra Advisory Services LLC grew its holdings in Entergy by 16.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 7,704 shares of the utilities provider’s stock worth $713,000 after acquiring an additional 1,075 shares during the period. Acadian Asset Management LLC increased its holdings in Entergy by 790.9% in the third quarter. Acadian Asset Management LLC now owns 18,584 shares of the utilities provider’s stock valued at $1,718,000 after purchasing an additional 16,498 shares during the last quarter. LPL Financial LLC increased its holdings in Entergy by 30.1% in the third quarter. LPL Financial LLC now owns 339,475 shares of the utilities provider’s stock valued at $31,401,000 after purchasing an additional 78,465 shares during the last quarter. Mariner LLC lifted its stake in Entergy by 24.2% in the third quarter. Mariner LLC now owns 19,247 shares of the utilities provider’s stock valued at $1,780,000 after buying an additional 3,752 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Entergy by 8.8% during the 3rd quarter. Stifel Financial Corp now owns 144,223 shares of the utilities provider’s stock worth $13,342,000 after buying an additional 11,673 shares during the period. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Up 0.3 %

ETR stock opened at $106.71 on Friday. The business has a 50-day moving average of $108.83 and a 200-day moving average of $104.24. Entergy Co. has a fifty-two week low of $87.10 and a fifty-two week high of $114.28. The stock has a market capitalization of $22.79 billion, a P/E ratio of 10.70, a P/E/G ratio of 2.01 and a beta of 0.73. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45.

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

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd were paid a $1.13 dividend. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $4.52 annualized dividend and a yield of 4.24%. Entergy’s payout ratio is currently 45.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ETR. Wells Fargo & Company increased their price target on shares of Entergy from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Morgan Stanley reduced their price target on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a research report on Monday. Barclays upped their price objective on shares of Entergy from $107.00 to $116.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. BMO Capital Markets raised their price objective on Entergy from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $109.50 target price (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. One equities 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.com, Entergy currently has an average rating of “Moderate Buy” and a consensus price target of $113.73.

Insiders Place Their Bets

In other news, insider Haley Fisackerly sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Haley Fisackerly sold 1,500 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $273,260.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the transaction, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

About Entergy

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.