Intech Investment Management LLC Sells 4,965 Shares of Entergy Co. (NYSE:ETR)

Intech Investment Management LLC reduced its holdings in Entergy Co. (NYSE:ETR) by 11.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,195 shares of the utilities provider’s stock after selling 4,965 shares during the period. Intech Investment Management LLC’s holdings in Entergy were worth $4,087,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ETR. Tidemark LLC bought a new position in Entergy during the fourth quarter worth $25,000. Iron Horse Wealth Management LLC acquired a new stake in Entergy during the second quarter worth $25,000. Heritage Wealth Advisors boosted its stake in Entergy by 2,172.7% during the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares in the last quarter. American National Bank raised its stake in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after buying an additional 134 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in shares of Entergy in the 2nd quarter valued at $32,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,363,182.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of Entergy stock in a transaction on 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 of the company’s stock, valued at $4,363,182.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,092,241.93. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,888 shares of company stock valued at $5,110,766. 0.39% of the stock is currently owned by insiders.

Entergy Price Performance

ETR opened at $129.25 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. The stock has a market capitalization of $27.60 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 2.31 and a beta of 0.73. The company’s 50 day simple moving average is $118.52 and its 200-day simple moving average is $110.87. Entergy Co. has a one year low of $87.10 and a one year high of $129.70.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.98 billion. During the same period last year, the company earned $1.84 EPS. Sell-side analysts anticipate that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were given a dividend of $1.13 per share. The ex-dividend date was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.50%. Entergy’s payout ratio is presently 45.34%.

Analysts Set New Price Targets

ETR has been the topic of a number of analyst reports. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $109.50 target price (down previously from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Wells Fargo & Company increased their target price on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BMO Capital Markets boosted their price target on Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Argus upgraded Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Finally, Bank of America boosted their target price on shares of Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.