Entergy Co. (NYSE:ETR) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management cut its holdings in shares of Entergy Co. (NYSE:ETR) by 5.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,111 shares of the utilities provider’s stock after selling 118 shares during the period. Financial Advocates Investment Management’s holdings in Entergy were worth $226,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ETR. Capital International Investors grew its holdings in Entergy by 64.2% in the first 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. Norges Bank acquired a new stake in Entergy in the 4th quarter valued at $127,675,000. Confluence Investment Management LLC purchased a new stake in Entergy in the 1st quarter worth $92,257,000. Franklin Resources Inc. raised its position in Entergy by 25.2% during the fourth quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock worth $400,901,000 after acquiring an additional 796,316 shares during the period. Finally, ClearBridge Investments Ltd lifted its holdings in Entergy by 29.3% during the fourth quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock valued at $315,254,000 after purchasing an additional 706,059 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Up 0.5 %

ETR stock opened at $119.83 on Friday. Entergy Co. has a one year low of $87.10 and a one year high of $123.61. The firm has a market cap of $25.59 billion, a PE ratio of 12.02, a PEG ratio of 2.29 and a beta of 0.71. The firm’s 50 day moving average price is $112.48 and its 200-day moving average price is $108.06. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.45 and a current ratio of 0.94.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.16. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same quarter last year, the firm posted $1.84 earnings per share. On average, equities research analysts anticipate that Entergy Co. will post 7.21 EPS for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be issued a $1.13 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $4.52 annualized dividend and a dividend yield of 3.77%. Entergy’s dividend payout ratio is presently 45.34%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ETR shares. Morgan Stanley upped their price target on shares of Entergy from $100.00 to $109.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. KeyCorp increased their target price on Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, May 20th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $109.50 price target (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. BMO Capital Markets increased their price objective on Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Argus raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.04.

Insider Buying and Selling

In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of Entergy 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 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. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 37,888 shares in the company, valued at $4,363,182.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,272 shares of company stock valued at $1,781,806. Corporate insiders own 0.39% of the company’s stock.

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.