Zions Bancorporation N.A. Has $5.06 Million Stock Holdings in Entergy Co. (NYSE:ETR)

Zions Bancorporation N.A. reduced its holdings in shares of Entergy Co. (NYSE:ETR) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,324 shares of the utilities provider’s stock after selling 1,262 shares during the quarter. Zions Bancorporation N.A.’s holdings in Entergy were worth $5,064,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ETR. Tidemark LLC bought a new position in Entergy during the 4th quarter valued at $25,000. Iron Horse Wealth Management LLC purchased a new stake in shares of Entergy in the second quarter valued at about $25,000. Heritage Wealth Advisors lifted its position in shares of Entergy by 2,172.7% during the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares in the last quarter. American National Bank grew its position in Entergy by 93.7% in 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 in the last quarter. Finally, TruNorth Capital Management LLC bought a new stake in Entergy in the 2nd quarter worth about $32,000. 88.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ETR. BMO Capital Markets boosted their target price on Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Bank of America raised their target price on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. LADENBURG THALM/SH SH restated a “neutral” rating and set a $109.50 price target (down previously from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Finally, Argus raised shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.04.

Insiders Place Their Bets

In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were 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 owns 37,888 shares in the company, valued at approximately $4,363,182.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of Entergy stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the transaction, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at $4,363,182.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the transaction, the insider now directly owns 5,117 shares in the company, valued at $614,040. The disclosure for this sale can be found here. Insiders have sold 42,888 shares of company stock worth $5,110,766 in the last ninety days. 0.39% of the stock is currently owned by insiders.

Entergy Stock Performance

NYSE:ETR opened at $123.57 on Friday. Entergy Co. has a 52-week low of $87.10 and a 52-week high of $123.73. The business’s fifty day moving average is $115.89 and its 200 day moving average is $109.66. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. The firm has a market cap of $26.42 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 2.31 and a beta of 0.73.

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

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 3.66%. The ex-dividend date was Tuesday, August 13th. Entergy’s payout ratio is 45.34%.

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.