Goelzer Investment Management Inc. Cuts Stock Holdings in Entergy Co. (NYSE:ETR)

Goelzer Investment Management Inc. cut its stake in shares of Entergy Co. (NYSE:ETR) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,297 shares of the utilities provider’s stock after selling 473 shares during the period. Goelzer Investment Management Inc.’s holdings in Entergy were worth $7,278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Iron Horse Wealth Management LLC purchased a new stake in Entergy during the second quarter valued at about $25,000. Heritage Wealth Advisors increased its position in Entergy by 2,172.7% during the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 239 shares in the last quarter. American National Bank raised its holdings in Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after buying an additional 134 shares during the period. TruNorth Capital Management LLC acquired a new position in Entergy during the second quarter valued at approximately $32,000. Finally, Rothschild Investment LLC purchased a new stake in Entergy during the second quarter worth approximately $34,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Price Performance

ETR traded down $0.50 on Friday, reaching $132.50. The company had a trading volume of 1,033,419 shares, compared to its average volume of 1,575,130. Entergy Co. has a one year low of $89.57 and a one year high of $133.38. The company has a market capitalization of $28.29 billion, a P/E ratio of 13.29, a PEG ratio of 2.46 and a beta of 0.74. The company has a fifty day moving average of $122.68 and a 200-day moving average of $112.80. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last posted 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. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same quarter last year, the business earned $1.84 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s payout ratio is currently 45.34%.

Insiders Place Their Bets

In related news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total value of $1,321,115.52. Following the sale, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,810 shares of company stock worth $6,140,626. 0.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ETR has been the topic of several recent research reports. Scotiabank lifted their target price on shares of Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Argus upgraded Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. LADENBURG THALM/SH SH reiterated 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 boosted their price target on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets increased their price objective 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. One equities 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.58.

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.