Coastal Investment Advisors Inc. decreased its position in shares of Entergy Co. (NYSE:ETR) by 31.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,463 shares of the utilities provider’s stock after selling 662 shares during the period. Coastal Investment Advisors Inc.’s holdings in Entergy were worth $172,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in ETR. Nordea Investment Management AB grew its holdings in shares of Entergy by 4.3% in the first quarter. Nordea Investment Management AB now owns 10,301 shares of the utilities provider’s stock worth $985,000 after acquiring an additional 429 shares during the period. Calton & Associates Inc. bought a new stake in shares of Entergy in the second quarter worth $214,000. Crossmark Global Holdings Inc. grew its holdings in shares of Entergy by 6.3% in the second quarter. Crossmark Global Holdings Inc. now owns 10,276 shares of the utilities provider’s stock worth $1,058,000 after acquiring an additional 612 shares during the period. Farmers Trust Co. grew its holdings in shares of Entergy by 0.9% in the second quarter. Farmers Trust Co. now owns 26,962 shares of the utilities provider’s stock worth $2,775,000 after acquiring an additional 236 shares during the period. Finally, Chicago Capital LLC bought a new stake in shares of Entergy in the second quarter worth $256,000. 86.24% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Leo P. Denault sold 24,211 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $110.00, for a total value of $2,663,210.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Marcus V. Brown sold 21,445 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $2,358,950.00. Following the completion of the transaction, the executive vice president now owns 38,411 shares in the company, valued at $4,225,210. The disclosure for this sale can be found here. Insiders have sold 59,156 shares of company stock worth $6,188,830 over the last quarter. 0.27% of the stock is owned by company insiders.
Several brokerages recently commented on ETR. KeyCorp lifted their price objective on Entergy from $118.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday. ValuEngine downgraded Entergy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their target price on Entergy from $116.00 to $129.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Citigroup lifted their target price on Entergy from $109.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their target price on Entergy from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Entergy has an average rating of “Buy” and an average price target of $111.70.
NYSE ETR opened at $119.02 on Tuesday. The company has a market capitalization of $23.32 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 3.18 and a beta of 0.29. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.52 and a current ratio of 0.73. The business’s fifty day moving average is $115.94 and its 200 day moving average is $105.06. Entergy Co. has a fifty-two week low of $81.02 and a fifty-two week high of $119.17.
Entergy (NYSE:ETR) last released its earnings results on Wednesday, July 31st. The utilities provider reported $1.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.03). The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a net margin of 8.97% and a return on equity of 13.75%. During the same quarter last year, the firm posted $1.42 earnings per share. On average, sell-side analysts forecast that Entergy Co. will post 5.27 EPS for the current year.
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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