Huber Capital Management LLC Sells 771 Shares of Entergy Co. (NYSE:ETR)

Huber Capital Management LLC lowered its stake in shares of Entergy Co. (NYSE:ETR) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,925 shares of the utilities provider’s stock after selling 771 shares during the quarter. Huber Capital Management LLC’s holdings in Entergy were worth $2,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Entergy by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 739,027 shares of the utilities provider’s stock valued at $74,781,000 after purchasing an additional 3,596 shares during the last quarter. Norges Bank bought a new position in shares of Entergy during the 4th quarter worth approximately $127,675,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Entergy by 123.1% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,869 shares of the utilities provider’s stock worth $594,000 after buying an additional 3,238 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Entergy by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 86,208 shares of the utilities provider’s stock valued at $8,723,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Entergy during the fourth quarter valued at approximately $125,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $122.56, for a total value of $398,320.00. Following the sale, the chief operating officer now owns 34,993 shares in the company, valued at $4,288,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the firm’s 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 sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,288,742.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew S. Marsh sold 19,200 shares of the business’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. Insiders sold 42,888 shares of company stock worth $5,110,766 in the last three months. Corporate insiders own 0.39% of the company’s stock.

Entergy Price Performance

Shares of NYSE ETR opened at $129.28 on Friday. 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 fifty-two week low of $87.10 and a fifty-two week high of $129.70. The stock has a market cap of $27.61 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 2.31 and a beta of 0.73. The stock has a fifty day moving average of $118.52 and a 200-day moving average of $110.81.

Entergy (NYSE:ETR) last announced 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 return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the business posted $1.84 earnings per share. Equities research analysts anticipate that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s payout ratio is 45.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. BMO Capital Markets increased their price target on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Barclays raised shares of Entergy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $115.00 to $138.00 in a research report on Tuesday. Mizuho increased their target price on shares of Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Bank of America lifted their price target on shares of Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.35.

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.