Ieq Capital LLC Sells 725 Shares of Entergy Corporation (NYSE:ETR)

Ieq Capital LLC trimmed its position in Entergy Corporation (NYSE:ETR) by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,119 shares of the utilities provider’s stock after selling 725 shares during the quarter. Ieq Capital LLC’s holdings in Entergy were worth $236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETR. State Street Corp raised its stake in shares of Entergy by 1.1% during the third quarter. State Street Corp now owns 11,408,776 shares of the utilities provider’s stock worth $1,501,509,000 after buying an additional 128,667 shares during the last quarter. FMR LLC grew its holdings in Entergy by 5.0% during the 3rd quarter. FMR LLC now owns 6,613,647 shares of the utilities provider’s stock worth $870,422,000 after acquiring an additional 315,750 shares during the period. Franklin Resources Inc. raised its position in shares of Entergy by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after acquiring an additional 1,981,611 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Entergy by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider’s stock valued at $651,206,000 after purchasing an additional 37,279 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Entergy by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after purchasing an additional 1,354,355 shares during the period. 88.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. BMO Capital Markets lifted their price objective on Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $58.00 to $75.00 in a research note on Monday, November 4th. Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Finally, Barclays lifted their price target on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and a consensus price target of $82.14.

Insider Activity at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.39% of the company’s stock.

Entergy Stock Up 2.4 %

ETR stock opened at $87.29 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. The stock has a market capitalization of $37.57 billion, a P/E ratio of 35.85, a P/E/G ratio of 2.34 and a beta of 0.72. Entergy Corporation has a fifty-two week low of $49.80 and a fifty-two week high of $88.38. The business has a 50-day moving average of $80.59 and a 200-day moving average of $72.43.

Entergy (NYSE:ETR) last released its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the firm earned $0.26 earnings per share. On average, sell-side analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.75%. Entergy’s payout ratio is presently 98.77%.

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.