Park Place Capital Corp Has $465,000 Position in Entergy Co. (NYSE:ETR)

Park Place Capital Corp cut its holdings in Entergy Co. (NYSE:ETR) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,404 shares of the utilities provider’s stock after selling 577 shares during the quarter. Park Place Capital Corp’s holdings in Entergy were worth $465,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidemark LLC acquired a new stake in Entergy in the fourth quarter valued at approximately $25,000. Fortis Group Advisors LLC acquired a new stake in Entergy in the third quarter valued at approximately $32,000. OLD Point Trust & Financial Services N A acquired a new stake in Entergy in the fourth quarter valued at approximately $35,000. CVA Family Office LLC acquired a new stake in Entergy in the fourth quarter valued at approximately $41,000. Finally, Atlas Capital Advisors LLC lifted its stake in shares of Entergy by 182.9% in the first quarter. Atlas Capital Advisors LLC now owns 396 shares of the utilities provider’s stock worth $42,000 after buying an additional 256 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Trading Down 1.2 %

Shares of Entergy stock opened at $105.74 on Tuesday. The firm has a market capitalization of $22.58 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 2.02 and a beta of 0.71. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45. The company’s fifty day moving average price is $108.89 and its two-hundred day moving average price is $104.30. Entergy Co. has a 52-week low of $87.10 and a 52-week high of $114.28.

Entergy (NYSE:ETR) last posted its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the company posted $1.14 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts expect that Entergy Co. will post 7.22 EPS for the current year.

Entergy Dividend Announcement

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

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following 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 can be accessed through the SEC website. In related news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total transaction of $165,345.00. Following 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 SEC, which can be accessed through this link. Also, CAO Reginald T. Jackson sold 9,229 shares of the company’s stock in a transaction dated 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 approximately $235,465.86. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $109.50 price objective (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. BMO Capital Markets boosted their price objective on shares of Entergy from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Scotiabank reduced their price objective on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Barclays boosted their price objective on shares of Entergy from $107.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Finally, Morgan Stanley dropped their target price on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.73.

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.