Tredje AP fonden Sells 519 Shares of Entergy Co. (NYSE:ETR)

Tredje AP fonden cut its stake in shares of Entergy Co. (NYSE:ETR) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,960 shares of the utilities provider’s stock after selling 519 shares during the quarter. Tredje AP fonden’s holdings in Entergy were worth $3,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ETR. HBK Sorce Advisory LLC lifted its holdings in shares of Entergy by 2.3% during the 2nd quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock worth $436,000 after acquiring an additional 92 shares during the last quarter. Quent Capital LLC lifted its stake in Entergy by 21.7% during the first quarter. Quent Capital LLC now owns 550 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 98 shares during the last quarter. Delta Financial Advisors LLC boosted its holdings in shares of Entergy by 0.5% in the 2nd quarter. Delta Financial Advisors LLC now owns 22,121 shares of the utilities provider’s stock worth $2,367,000 after purchasing an additional 105 shares in the last quarter. iA Global Asset Management Inc. increased its position in shares of 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 purchasing an additional 114 shares during the last quarter. Finally, First Bank & Trust raised its holdings in shares of Entergy by 0.6% during the 2nd quarter. First Bank & Trust now owns 20,540 shares of the utilities provider’s stock valued at $2,198,000 after buying an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

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

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the business posted $1.84 earnings per share. On average, equities research analysts anticipate that Entergy Co. will post 7.22 earnings per share 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 paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Tuesday, August 13th. Entergy’s payout ratio is currently 45.34%.

Insiders Place Their Bets

In related news, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total transaction of $72,018.00. Following the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,092,241.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Andrew S. Marsh sold 600 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. The sale was disclosed in a document filed with the SEC, which is accessible through 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 stock was 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 $4,363,182.08. The disclosure for this sale can be found here. Insiders sold 42,888 shares of company stock worth $5,110,766 over the last three months. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on shares of Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley increased their target price on shares of Entergy from $100.00 to $109.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $109.50 price target (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Barclays raised 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 research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.35.

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.