Entergy Co. (NYSE:ETR) Shares Sold by Richardson Financial Services Inc.

Richardson Financial Services Inc. decreased its position in shares of Entergy Co. (NYSE:ETR) by 13.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,063 shares of the utilities provider’s stock after selling 326 shares during the period. Richardson Financial Services Inc.’s holdings in Entergy were worth $221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tidemark LLC acquired a new stake in shares of Entergy during the fourth quarter worth about $25,000. Iron Horse Wealth Management LLC acquired a new stake in Entergy during the 2nd quarter worth approximately $25,000. Heritage Wealth Advisors boosted its position in Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after buying an additional 239 shares during the period. American National Bank grew its stake in shares of Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares in the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Entergy during the second quarter worth $32,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Entergy

In other news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,307,787.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the completion of the sale, the chief operating officer now directly owns 37,888 shares in the company, valued at approximately $4,363,182.08. The disclosure for this sale can be found here. Insiders have sold a total of 42,888 shares of company stock worth $5,110,766 over the last ninety days. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ETR has been the subject of several analyst reports. Mizuho boosted their target price on Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $109.50 target price (down previously from $117.00) on shares of Entergy in a report on Wednesday, June 12th. Morgan Stanley boosted their price target on shares of Entergy from $100.00 to $109.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Barclays upgraded shares of Entergy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $115.00 to $138.00 in a report on Tuesday. Finally, BMO Capital Markets boosted their target price on shares of Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. One equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Entergy currently has an average rating of “Moderate Buy” and a consensus target price of $125.35.

Entergy Stock Down 0.4 %

ETR opened at $128.61 on Thursday. The stock has a market capitalization of $27.46 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 2.31 and a beta of 0.73. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. Entergy Co. has a one year low of $87.10 and a one year high of $129.66. The business’s 50-day simple moving average is $117.73 and its 200-day simple moving average is $110.50.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. The company 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 business earned $1.84 earnings per share. Analysts anticipate that Entergy Co. will post 7.22 EPS for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 3.51%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s dividend payout ratio is presently 45.34%.

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.