Soros Fund Management LLC Sells 17,405 Shares of Entergy Corporation $ETR

Soros Fund Management LLC reduced its holdings in shares of Entergy Corporation (NYSE:ETR) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,077,874 shares of the utilities provider’s stock after selling 17,405 shares during the period. Entergy comprises 1.1% of Soros Fund Management LLC’s portfolio, making the stock its 22nd largest holding. Soros Fund Management LLC owned 0.24% of Entergy worth $89,593,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. HB Wealth Management LLC raised its stake in Entergy by 15.2% during the 2nd quarter. HB Wealth Management LLC now owns 22,271 shares of the utilities provider’s stock valued at $1,851,000 after acquiring an additional 2,932 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Entergy during the first quarter worth about $32,658,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Entergy by 26.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock worth $8,219,000 after purchasing an additional 19,862 shares during the last quarter. Empowered Funds LLC grew its stake in Entergy by 369.8% in the 1st quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock valued at $7,352,000 after acquiring an additional 67,696 shares during the last quarter. Finally, G&S Capital LLC purchased a new position in shares of Entergy during the 2nd quarter worth approximately $2,557,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Trading Down 0.1%

NYSE ETR opened at $93.28 on Friday. The company’s fifty day simple moving average is $95.55 and its 200-day simple moving average is $89.59. The stock has a market cap of $41.66 billion, a P/E ratio of 23.03, a PEG ratio of 2.34 and a beta of 0.62. Entergy Corporation has a 52 week low of $73.15 and a 52 week high of $98.58. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The firm had revenue of $2.37 billion for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. Equities research analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Thursday, November 13th were issued a dividend of $0.64 per share. The ex-dividend date was Thursday, November 13th. This represents a $2.56 annualized dividend and a yield of 2.7%. This is a boost from Entergy’s previous quarterly dividend of $0.60. Entergy’s dividend payout ratio (DPR) is presently 63.21%.

Analyst Upgrades and Downgrades

ETR has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Entergy in a research report on Wednesday, October 8th. Morgan Stanley set a $91.00 target price on Entergy in a research report on Thursday, November 20th. Evercore ISI boosted their price target on Entergy from $98.00 to $101.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Citigroup raised their price objective on Entergy from $91.00 to $106.00 and gave the stock a “neutral” rating in a report on Tuesday, November 18th. Finally, Wells Fargo & Company raised Entergy to a “strong-buy” rating in a research note on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.78.

Insider Buying and Selling at Entergy

In other Entergy news, Director Ralph Lewis Ropp bought 1,000 shares of Entergy stock in a transaction dated Wednesday, November 12th. The stock was bought at an average cost of $96.69 per share, for a total transaction of $96,690.00. Following the purchase, the director owned 1,050 shares in the company, valued at $101,524.50. This represents a 2,000.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 5,136 shares of Entergy stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total transaction of $495,624.00. Following the completion of the sale, the insider owned 7,899 shares of the company’s stock, valued at approximately $762,253.50. This trade represents a 39.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,179 shares of company stock valued at $981,707 in the last three months. Corporate insiders own 0.39% of the company’s stock.

Entergy Company 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.