Moors & Cabot Inc. Lowers Holdings in Entergy Corporation $ETR

Moors & Cabot Inc. reduced its position in Entergy Corporation (NYSE:ETR) by 20.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,177 shares of the utilities provider’s stock after selling 796 shares during the quarter. Moors & Cabot Inc.’s holdings in Entergy were worth $264,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ETR. TD Asset Management Inc increased its stake in shares of Entergy by 964.8% during the first quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider’s stock worth $261,232,000 after acquiring an additional 2,768,734 shares during the period. Vanguard Group Inc. lifted its position in Entergy by 5.2% in the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider’s stock valued at $4,687,331,000 after purchasing an additional 2,695,348 shares during the period. Alkeon Capital Management LLC purchased a new stake in Entergy in the 1st quarter valued at approximately $194,429,000. Nuveen LLC acquired a new position in Entergy during the 1st quarter worth approximately $123,648,000. Finally, Zimmer Partners LP raised its stake in shares of Entergy by 285.5% during the 1st quarter. Zimmer Partners LP now owns 1,133,474 shares of the utilities provider’s stock worth $96,901,000 after buying an additional 839,474 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Performance

Shares of ETR opened at $97.12 on Monday. Entergy Corporation has a 12-month low of $72.64 and a 12-month high of $98.58. The stock has a market cap of $43.37 billion, a P/E ratio of 23.98, a PEG ratio of 2.40 and a beta of 0.63. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 1.62. The company has a 50-day moving average of $93.06 and a two-hundred day moving average of $87.71.

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

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, November 13th. Entergy’s payout ratio is presently 63.21%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. KeyCorp restated an “overweight” rating and issued a $106.00 price target (up from $96.00) on shares of Entergy in a research note on Wednesday, October 15th. BTIG Research upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Entergy in a research note on Wednesday, October 8th. Evercore ISI raised their price objective on shares of Entergy from $98.00 to $101.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Finally, Mizuho boosted their price objective on shares of Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.37.

Insider Buying and Selling at Entergy

In related news, insider Anastasia Minor sold 5,000 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the sale, the insider owned 10,122 shares of the company’s stock, valued at $975,659.58. This trade represents a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Haley Fisackerly sold 5,136 shares of Entergy stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total value of $495,624.00. Following the sale, the insider owned 7,899 shares of the company’s stock, valued at approximately $762,253.50. This represents a 39.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,324 shares of company stock worth $994,902 over the last 90 days. Company insiders own 0.39% of the company’s stock.

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.