Susquehanna Portfolio Strategies LLC Lowers Position in Entergy Co. (NYSE:ETR)

Susquehanna Portfolio Strategies LLC decreased its position in shares of Entergy Co. (NYSE:ETR) by 16.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,537 shares of the utilities provider’s stock after selling 5,191 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Entergy were worth $2,839,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its position in shares of Entergy by 47.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after acquiring an additional 2,075,776 shares during the last quarter. Capital International Investors raised its holdings in Entergy by 64.2% during the 1st quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after buying an additional 1,630,057 shares during the period. Millennium Management LLC boosted its stake in Entergy by 185.5% during the second quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider’s stock worth $200,804,000 after buying an additional 1,219,419 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Entergy in the 1st quarter worth about $92,257,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Entergy by 12.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock worth $741,135,000 after buying an additional 763,834 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Stock Performance

Shares of ETR opened at $131.13 on Friday. The stock has a 50-day moving average of $120.18 and a two-hundred day moving average of $111.56. 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 stock has a market cap of $28.00 billion, a P/E ratio of 13.15, a P/E/G ratio of 2.46 and a beta of 0.73. Entergy Co. has a one year low of $87.10 and a one year high of $131.55.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $2.98 billion. During the same period in the prior year, the company posted $1.84 EPS. As a group, research analysts predict that Entergy Co. will post 7.22 EPS for the current year.

Entergy Dividend Announcement

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 $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 3.45%. The ex-dividend date was Tuesday, August 13th. Entergy’s payout ratio is presently 45.34%.

Analyst Ratings Changes

Several equities analysts have commented on ETR shares. Scotiabank upped their price objective on Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Argus raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Guggenheim raised their price objective on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America increased their target price on shares of Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Barclays raised shares of Entergy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $115.00 to $138.00 in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and an average price target of $127.81.

Insiders Place Their Bets

In other news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the completion of the sale, the insider now owns 5,117 shares of the company’s stock, valued at $614,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the transaction, the insider now directly owns 5,117 shares in the company, valued at approximately $614,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,810 shares of company stock worth $6,140,626. Company insiders own 0.39% of the company’s stock.

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.