Foster & Motley Inc. Trims Position in Entergy Co. (NYSE:ETR)

Foster & Motley Inc. trimmed its holdings in shares of Entergy Co. (NYSE:ETR) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,075 shares of the utilities provider’s stock after selling 1,091 shares during the quarter. Foster & Motley Inc.’s holdings in Entergy were worth $1,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETR. Iron Horse Wealth Management LLC acquired a new stake in shares of Entergy during the 2nd quarter worth about $25,000. Heritage Wealth Advisors increased its position in shares of Entergy by 2,172.7% during the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 239 shares during the last quarter. Cetera Trust Company N.A acquired a new stake in shares of Entergy during the 3rd quarter worth about $29,000. Fortitude Family Office LLC increased its position in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares during the last quarter. Finally, American National Bank increased its position in shares of Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 134 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eliecer Viamontes sold 5,166 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the sale, the insider now owns 5,117 shares of the company’s stock, valued at $614,040. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,138 shares of company stock worth $4,430,838. 0.54% of the stock is owned by insiders.

Entergy Price Performance

ETR stock opened at $146.06 on Thursday. The business has a 50 day moving average price of $131.25 and a 200 day moving average price of $118.08. The stock has a market cap of $31.32 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 2.69 and a beta of 0.71. Entergy Co. has a fifty-two week low of $94.85 and a fifty-two week high of $156.85. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same quarter in the previous year, the business earned $3.27 earnings per share. Equities research analysts anticipate that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a yield of 3.29%. This is a boost from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is currently 55.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Guggenheim lifted their target price on Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, November 1st. UBS Group lifted their target price on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Argus raised Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their target price on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, Barclays lifted their target price on Entergy from $137.00 to $152.00 and gave the company an “overweight” rating in a research report on Tuesday. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

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.