Entergy Co. (NYSE:ETR) Stock Position Cut by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its stake in shares of Entergy Co. (NYSE:ETR) by 21.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,653 shares of the utilities provider’s stock after selling 28,055 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Entergy were worth $11,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. HBK Sorce Advisory LLC increased its stake in shares of Entergy by 2.3% during the second quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock valued at $436,000 after acquiring an additional 92 shares during the period. Quent Capital LLC raised its stake in shares of Entergy by 21.7% in the 1st 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 shares of Entergy by 0.5% in the second quarter. Delta Financial Advisors LLC now owns 22,121 shares of the utilities provider’s stock valued at $2,367,000 after buying an additional 105 shares during the period. iA Global Asset Management Inc. boosted its stake in Entergy by 1.3% during the first quarter. iA Global Asset Management Inc. now owns 8,830 shares of the utilities provider’s stock valued at $933,000 after buying an additional 114 shares in the last quarter. Finally, First Bank & Trust grew its holdings in Entergy by 0.6% during the second 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 during the period. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Up 0.6 %

Shares of Entergy stock opened at $130.04 on Tuesday. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $130.16. The company has a market cap of $27.77 billion, a P/E ratio of 13.04, a P/E/G ratio of 2.31 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average price of $118.98 and a 200 day moving average price of $111.12.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping 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 net margin of 14.75% and a return on equity of 10.10%. During the same period last year, the company posted $1.84 earnings per share. As a group, analysts expect that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

Wall Street Analyst Weigh In

ETR has been the subject of a number of research analyst reports. Mizuho upped their price target on shares of Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, May 31st. BMO Capital Markets increased their target price on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $109.50 price target (down previously from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Argus upgraded Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Bank of America lifted their target price on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.35.

Insider Activity at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 19,200 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.35, for a total value of $2,310,720.00. Following the transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,140,475.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Entergy news, COO Peter S. Norgeot, Jr. sold 3,250 shares of Entergy stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $122.56, for a total value of $398,320.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,288,742.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew S. Marsh sold 19,200 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,140,475.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,888 shares of company stock valued at $5,110,766. Insiders own 0.39% of the company’s stock.

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.