10,277 Entergy Corporation $ETR Shares Sold by Providence First Trust Co

Providence First Trust Co cut its position in Entergy Corporation (NYSE:ETR) by 78.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,874 shares of the utilities provider’s stock after selling 10,277 shares during the period. Providence First Trust Co’s holdings in Entergy were worth $285,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ETR. BlackRock Inc. acquired a new position in shares of Entergy in the 2nd quarter valued at $4,861,376,000. Bank of America Corp DE increased its position in shares of Entergy by 5.3% in the 1st quarter. Bank of America Corp DE now owns 17,369,775 shares of the utilities provider’s stock valued at $1,951,668,000 after buying an additional 870,847 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Entergy during the 2nd quarter worth $633,338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Entergy by 4.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,941,157 shares of the utilities provider’s stock worth $452,681,000 after buying an additional 161,411 shares during the period. Finally, Legal & General Group Plc bought a new position in Entergy during the second quarter worth about $430,404,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ETR. BMO Capital Markets decreased their price objective on Entergy from $124.00 to $123.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Truist Financial set a $119.00 price objective on Entergy and gave the company a “buy” rating in a report on Monday, October 12th. JPMorgan Chase & Co. lowered their target price on shares of Entergy from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. BTIG Research reaffirmed a “buy” rating and issued a $124.00 target price (up from $117.00) on shares of Entergy in a report on Tuesday. Finally, Scotiabank cut their target price on shares of Entergy from $129.00 to $121.00 and set an “outperform” rating for the company in a research note on Wednesday, September 30th. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.57.

Insider Activity

In other news, insider Laura Landreaux sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $106.20, for a total value of $594,720.00. Following the transaction, the insider owned 22,589 shares of the company’s stock, valued at approximately $2,398,951.80. This represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

Entergy Stock Performance

NYSE ETR opened at $110.42 on Friday. The firm has a 50-day moving average of $104.77 and a 200-day moving average of $107.68. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.70 and a current ratio of 1.18. The stock has a market cap of $52.76 billion, a PE ratio of 25.38, a P/E/G ratio of 2.47 and a beta of 0.44. Entergy Corporation has a 52-week low of $90.87 and a 52-week high of $118.44.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.25. Entergy had a net margin of 14.63% and a return on equity of 11.44%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the business earned $1.53 EPS. On average, sell-side analysts anticipate that Entergy Corporation will post 4.41 EPS for the current year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a dividend of $0.68 per share. This is a boost from Entergy’s previous quarterly dividend of $0.64. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, November 13th. Entergy’s dividend payout ratio is presently 62.53%.

About Entergy

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers.

Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy.

The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.