1832 Asset Management L.P. Sells 240,261 Shares of Entergy Co. (NYSE:ETR)

1832 Asset Management L.P. lowered its stake in shares of Entergy Co. (NYSE:ETR) by 35.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 428,757 shares of the utilities provider’s stock after selling 240,261 shares during the quarter. 1832 Asset Management L.P. owned about 0.20% of Entergy worth $45,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors boosted its holdings in Entergy by 22.5% in the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock worth $290,963,000 after acquiring an additional 505,705 shares in the last quarter. Capital International Investors boosted its stake in Entergy by 64.2% in the 1st quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock worth $440,690,000 after purchasing an additional 1,630,057 shares in the last quarter. Capital Group Private Client Services Inc. bought a new stake in Entergy during the 1st quarter valued at about $17,678,000. Advisors Asset Management Inc. increased its stake in Entergy by 6.6% during the 1st quarter. Advisors Asset Management Inc. now owns 34,778 shares of the utilities provider’s stock valued at $3,675,000 after purchasing an additional 2,155 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in Entergy by 2.8% in the first quarter. CreativeOne Wealth LLC now owns 5,312 shares of the utilities provider’s stock worth $561,000 after buying an additional 146 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ETR has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Entergy from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. 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. Scotiabank decreased their price target on Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Mizuho increased their price objective on Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Barclays decreased their target price on Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Entergy currently has an average rating of “Moderate Buy” and an average price target of $113.42.

Insiders Place Their Bets

In other Entergy news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the transaction, the insider now directly owns 2,479 shares in the company, valued at $273,260.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the transaction, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total transaction of $165,345.00. Following the sale, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

Entergy Stock Performance

Shares of Entergy stock traded up $2.21 on Friday, hitting $113.63. 1,405,502 shares of the company’s stock were exchanged, compared to its average volume of 1,290,799. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69. The stock has a market capitalization of $24.26 billion, a PE ratio of 11.40, a PEG ratio of 2.11 and a beta of 0.71. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $114.28. The company has a 50-day simple moving average of $108.48 and a 200-day simple moving average of $105.21.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). Entergy had a return on equity of 10.20% and a net margin of 17.75%. The company had revenue of $31.17 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that Entergy Co. will post 7.21 EPS for the current year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 3.98%. Entergy’s dividend payout ratio is 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.