Highstreet Asset Management Inc. reduced its stake in Entergy Co. (NYSE:ETR) by 39.7% during the third quarter, Holdings Channel reports. The fund owned 8,026 shares of the utilities provider’s stock after selling 5,286 shares during the quarter. Highstreet Asset Management Inc.’s holdings in Entergy were worth $651,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Braun Bostich & Associates Inc. increased its holdings in Entergy by 1,320.4% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,392 shares of the utilities provider’s stock valued at $112,000 after acquiring an additional 1,294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Entergy by 402.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,855 shares of the utilities provider’s stock valued at $152,000 after acquiring an additional 1,486 shares during the last quarter. Advisors Preferred LLC increased its holdings in Entergy by 200.8% in the 2nd quarter. Advisors Preferred LLC now owns 2,178 shares of the utilities provider’s stock valued at $176,000 after acquiring an additional 1,454 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Entergy by 65.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,191 shares of the utilities provider’s stock valued at $177,000 after acquiring an additional 869 shares during the last quarter. Finally, ELM Advisors LLC bought a new stake in Entergy in the 3rd quarter valued at $178,000. Institutional investors own 91.97% of the company’s stock.
In related news, EVP Donald W. Vinci sold 10,033 shares of Entergy stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $87.00, for a total transaction of $872,871.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marcus V. Brown sold 3,600 shares of Entergy stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $85.64, for a total transaction of $308,304.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,533 shares of company stock worth $2,123,475. Insiders own 0.24% of the company’s stock.
Entergy stock opened at $85.97 on Friday. Entergy Co. has a twelve month low of $71.95 and a twelve month high of $87.31. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.49 and a current ratio of 0.64. The stock has a market capitalization of $15.56 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.76 and a beta of 0.39.
Entergy (NYSE:ETR) last posted its earnings results on Wednesday, October 31st. The utilities provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.94. Entergy had a net margin of 4.01% and a return on equity of 16.94%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the firm posted $2.35 EPS. On average, equities analysts forecast that Entergy Co. will post 6.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 8th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This is an increase from Entergy’s previous quarterly dividend of $0.89. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.23%. Entergy’s payout ratio is 50.56%.
A number of analysts have issued reports on ETR shares. Goldman Sachs Group upgraded shares of Entergy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $87.00 to $88.00 in a report on Thursday, July 19th. Howard Weil started coverage on shares of Entergy in a report on Tuesday, July 24th. They issued a “sector perform” rating and a $84.00 price target on the stock. Scotiabank started coverage on shares of Entergy in a report on Tuesday, July 24th. They issued a “hold” rating and a $84.00 price target on the stock. UBS Group upgraded shares of Entergy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $92.00 in a report on Friday, August 3rd. Finally, Bank of America lifted their price target on shares of Entergy from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $89.63.
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Entergy Company Profile
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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