Insider Selling: Entergy Co. (NYSE:ETR) COO Sells 7,922 Shares of Stock

Entergy Co. (NYSE:ETR) COO Peter S. Norgeot, Jr. sold 7,922 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the transaction, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,549,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Entergy Stock Performance

Shares of ETR stock remained flat at $130.03 on Tuesday. 3,302,763 shares of the stock were exchanged, compared to its average volume of 1,586,084. The firm has a 50-day moving average of $118.98 and a 200-day moving average of $111.12. 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 company has a market cap of $27.77 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 2.31 and a beta of 0.73. Entergy Co. has a twelve month low of $87.10 and a twelve month high of $131.03.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS 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 business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the company posted $1.84 EPS. As a group, equities analysts anticipate that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s dividend payout ratio (DPR) is 45.34%.

Hedge Funds Weigh In On Entergy

Institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of Entergy in the 2nd quarter valued at approximately $3,876,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Entergy during the 2nd quarter valued at approximately $42,000. Clearbridge Investments LLC grew its holdings in Entergy by 15.5% in the second quarter. Clearbridge Investments LLC now owns 3,181 shares of the utilities provider’s stock valued at $340,000 after purchasing an additional 427 shares during the last quarter. Truist Financial Corp increased its holdings in Entergy by 42.0% during the 2nd quarter. Truist Financial Corp now owns 906,795 shares of the utilities provider’s stock valued at $97,027,000 after acquiring an additional 268,004 shares in the last quarter. Finally, Brandes Investment Partners LP acquired a new position in shares of Entergy during the 2nd quarter worth approximately $32,017,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America upped their target price on shares of Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. 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 report on Wednesday, June 12th. Guggenheim upped their price objective on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley upped their target price on shares of Entergy from $100.00 to $109.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets upped their price target on Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.35.

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.