Legacy Financial Advisors Inc. Decreases Stock Position in Entergy Co. (NYSE:ETR)

Legacy Financial Advisors Inc. reduced its position in Entergy Co. (NYSE:ETR) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,524 shares of the utilities provider’s stock after selling 115 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Entergy were worth $1,233,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its holdings in shares of Entergy by 6.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock valued at $25,275,000 after purchasing an additional 13,882 shares during the last quarter. Cetera Advisor Networks LLC increased its position in Entergy by 11.1% during the fourth quarter. Cetera Advisor Networks LLC now owns 55,261 shares of the utilities provider’s stock worth $5,592,000 after purchasing an additional 5,509 shares during the last quarter. Norges Bank purchased a new position in Entergy during the fourth quarter worth about $127,675,000. Groupama Asset Managment acquired a new position in Entergy in the 4th quarter valued at about $15,783,000. Finally, Acadian Asset Management LLC boosted its position in shares of Entergy by 55.4% during the first quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock worth $1,571,000 after buying an additional 5,303 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Price Performance

Shares of NYSE:ETR opened at $129.28 on Friday. Entergy Co. has a 12 month low of $87.10 and a 12 month high of $129.70. The firm has a market capitalization of $27.61 billion, a P/E ratio of 12.97, a P/E/G ratio of 2.31 and a beta of 0.73. 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 company’s fifty day moving average price is $118.52 and its 200 day moving average price is $110.81.

Entergy (NYSE:ETR) last posted its 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. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period in the previous year, the business earned $1.84 EPS. As a group, sell-side analysts predict 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. Stockholders of record on Tuesday, August 13th were issued a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.50%. Entergy’s payout ratio is 45.34%.

Insider Activity

In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’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 transaction, the chief operating officer now owns 37,888 shares of the company’s stock, valued at $4,363,182.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $122.56, for a total transaction of $398,320.00. Following the completion of the sale, the chief operating officer now owns 34,993 shares of the company’s stock, valued at approximately $4,288,742.08. The disclosure for this sale can be found here. Insiders have sold 42,888 shares of company stock valued at $5,110,766 in the last ninety days. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ETR shares. Morgan Stanley raised their target price on Entergy from $100.00 to $109.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. UBS Group raised their price objective on shares of Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $109.50 target price (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Scotiabank raised their price target on shares of Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their price objective on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research report 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus target price 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.