SG Americas Securities LLC Reduces Holdings in Entergy Co. (NYSE:ETR)

SG Americas Securities LLC decreased its position in shares of Entergy Co. (NYSE:ETR) by 96.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,486 shares of the utilities provider’s stock after selling 75,947 shares during the period. SG Americas Securities LLC’s holdings in Entergy were worth $327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in shares of Entergy by 6.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock worth $25,275,000 after purchasing an additional 13,882 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Entergy by 55.4% in the 1st quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock worth $1,571,000 after purchasing an additional 5,303 shares during the last quarter. Viking Fund Management LLC increased its position in shares of Entergy by 6.3% in the 1st quarter. Viking Fund Management LLC now owns 125,600 shares of the utilities provider’s stock worth $13,273,000 after purchasing an additional 7,400 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Entergy in the 1st quarter worth about $1,245,000. Finally, Cetera Advisors LLC increased its position in shares of Entergy by 145.2% in the 1st quarter. Cetera Advisors LLC now owns 24,136 shares of the utilities provider’s stock worth $2,551,000 after purchasing an additional 14,293 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,549,090. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $122.56, for a total transaction of $398,320.00. Following the sale, the chief operating officer now owns 34,993 shares in the company, valued at $4,288,742.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $4,549,090. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,810 shares of company stock worth $6,140,626 in the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ETR. Morgan Stanley boosted their target price on shares of Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Argus raised shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Scotiabank lifted their price target 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. BMO Capital Markets lifted their price target on shares of Entergy from $131.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada lifted their price target on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.96.

Entergy Trading Up 0.5 %

Shares of NYSE:ETR opened at $135.28 on Friday. The company has a 50 day moving average of $125.66 and a 200-day moving average of $114.82. The firm has a market cap of $28.89 billion, a P/E ratio of 13.57, a P/E/G ratio of 2.46 and a beta of 0.74. Entergy Co. has a twelve month low of $90.78 and a twelve month high of $135.79. 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 issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. The company had revenue of $2.95 billion during 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 period in the prior year, the business posted $1.84 EPS. As a group, 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. Investors 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 3.34%. Entergy’s payout ratio is currently 45.34%.

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.