Entergy Co. (NYSE:ETR) Position Reduced by First American Bank

First American Bank cut its position in shares of Entergy Co. (NYSE:ETR) by 6.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,532 shares of the utilities provider’s stock after selling 937 shares during the quarter. First American Bank’s holdings in Entergy were worth $1,781,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Entergy by 12.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after purchasing an additional 763,834 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Entergy by 47.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after purchasing an additional 2,075,776 shares during the period. Capital International Investors increased its holdings in shares of Entergy by 64.2% in the 1st quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after purchasing an additional 1,630,057 shares during the period. ClearBridge Investments Ltd increased its holdings in Entergy by 0.6% in the second quarter. ClearBridge Investments Ltd now owns 3,137,110 shares of the utilities provider’s stock worth $335,671,000 after buying an additional 20,025 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in Entergy by 22.5% in the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock worth $290,963,000 after buying an additional 505,705 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Down 1.5 %

Shares of ETR stock opened at $135.38 on Monday. The stock has a market cap of $28.95 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74. Entergy Co. has a one year low of $90.78 and a one year high of $138.24. The stock has a fifty day moving average price of $127.51 and a 200 day moving average price of $115.98. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.76 by $0.16. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period last year, the business earned $1.84 earnings per share. Analysts predict that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This is a boost from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.55%. Entergy’s dividend payout ratio (DPR) is presently 54.07%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BMO Capital Markets increased their price objective on Entergy from $131.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Morgan Stanley increased their price objective on Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Wells Fargo & Company increased their price objective on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Argus upgraded Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Entergy has an average rating of “Moderate Buy” and an average price target of $131.19.

Insider Buying and Selling at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the completion of the sale, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew S. Marsh sold 3,200 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,307,787.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,810 shares of company stock valued at $6,140,626. 0.39% of the stock is currently owned by company insiders.

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.