Mackenzie Financial Corp Lowers Holdings in Entergy Co. (NYSE:ETR)

Mackenzie Financial Corp reduced its position in Entergy Co. (NYSE:ETR) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,525 shares of the utilities provider’s stock after selling 23,987 shares during the quarter. Mackenzie Financial Corp owned 0.09% of Entergy worth $21,349,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC raised its holdings in shares of Entergy by 2.3% in the 2nd quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock valued at $436,000 after purchasing an additional 92 shares in the last quarter. Quent Capital LLC raised its stake in Entergy by 21.7% in the first quarter. Quent Capital LLC now owns 550 shares of the utilities provider’s stock worth $58,000 after buying an additional 98 shares in the last quarter. Delta Financial Advisors LLC lifted its holdings in Entergy by 0.5% during the second quarter. Delta Financial Advisors LLC now owns 22,121 shares of the utilities provider’s stock worth $2,367,000 after buying an additional 105 shares during the period. iA Global Asset Management Inc. boosted its position in Entergy by 1.3% during the 1st quarter. iA Global Asset Management Inc. now owns 8,830 shares of the utilities provider’s stock valued at $933,000 after acquiring an additional 114 shares in the last quarter. Finally, First Bank & Trust raised its position in shares of Entergy by 0.6% in the 2nd quarter. First Bank & Trust now owns 20,540 shares of the utilities provider’s stock worth $2,198,000 after acquiring an additional 116 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ETR. Guggenheim raised their price objective on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley raised their price target on shares of Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. KeyCorp boosted their price objective on shares of Entergy from $123.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. UBS Group raised their target price on shares of Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, Argus raised Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $127.81.

Insider Activity at Entergy

In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,549,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now owns 34,993 shares in the company, valued at $4,549,090. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew S. Marsh sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The disclosure for this sale can be found here. Insiders sold a total of 50,810 shares of company stock worth $6,140,626 in the last three months. Company insiders own 0.39% of the company’s stock.

Entergy Trading Up 1.2 %

Shares of Entergy stock opened at $131.13 on Monday. The stock has a market cap of $28.00 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.46 and a beta of 0.73. The firm has a fifty day moving average price of $120.59 and a 200 day moving average price of $111.88. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $131.55. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62.

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

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Tuesday, August 13th. Entergy’s dividend payout ratio (DPR) is 45.34%.

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.