Inspire Advisors LLC Sells 2,630 Shares of Entergy Corporation $ETR

Inspire Advisors LLC lowered its holdings in shares of Entergy Corporation (NYSE:ETR) by 18.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,907 shares of the utilities provider’s stock after selling 2,630 shares during the period. Inspire Advisors LLC’s holdings in Entergy were worth $990,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ETR. Choreo LLC grew its holdings in Entergy by 12.3% in the first quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock worth $816,000 after purchasing an additional 1,042 shares during the period. First American Trust FSB bought a new position in shares of Entergy during the 1st quarter worth about $3,896,000. Zurich Insurance Group Ltd FI bought a new stake in Entergy in the 1st quarter valued at about $32,658,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Entergy by 26.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock worth $8,219,000 after buying an additional 19,862 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Entergy by 369.8% in the first quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock worth $7,352,000 after acquiring an additional 67,696 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETR has been the subject of several recent research reports. KeyCorp restated an “overweight” rating and set a $106.00 price objective (up previously from $96.00) on shares of Entergy in a report on Wednesday, October 15th. BMO Capital Markets restated an “outperform” rating and set a $104.00 price target (up previously from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. Scotiabank set a $105.00 price objective on shares of Entergy and gave the stock an “outperform” rating in a report on Friday, October 3rd. Morgan Stanley set a $93.00 price objective on shares of Entergy and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.59.

Insider Activity at Entergy

In related news, 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 sale, the insider directly owned 7,899 shares in the company, valued at approximately $762,253.50. This trade represents a 39.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anastasia Minor sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the sale, the insider directly owned 10,122 shares of the company’s stock, valued at approximately $975,659.58. This represents a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 10,179 shares of company stock valued at $981,707. 0.39% of the stock is owned by insiders.

Entergy Price Performance

ETR opened at $94.54 on Wednesday. Entergy Corporation has a 1 year low of $73.15 and a 1 year high of $98.58. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.52. The company has a market capitalization of $42.22 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 2.40 and a beta of 0.63. The firm’s fifty day moving average price is $94.21 and its two-hundred day moving average price is $88.27.

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

Entergy Increases Dividend

The firm also recently announced 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 is a boost from Entergy’s previous quarterly dividend of $0.60. This represents a $2.56 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, November 13th. Entergy’s dividend payout ratio is currently 63.21%.

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.