Van ECK Associates Corp Sells 314 Shares of Entergy Co. (NYSE:ETR)

Van ECK Associates Corp cut its holdings in shares of Entergy Co. (NYSE:ETR) by 0.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,346 shares of the utilities provider’s stock after selling 314 shares during the period. Van ECK Associates Corp’s holdings in Entergy were worth $11,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Entergy by 6.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock valued at $25,275,000 after purchasing an additional 13,882 shares in the last quarter. Acadian Asset Management LLC lifted its position in Entergy by 55.4% during the first quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock valued at $1,571,000 after acquiring an additional 5,303 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Entergy during the first quarter valued at approximately $1,245,000. Cetera Advisors LLC lifted its position in Entergy by 145.2% during the first quarter. Cetera Advisors LLC now owns 24,136 shares of the utilities provider’s stock valued at $2,551,000 after acquiring an additional 14,293 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Entergy by 17.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 41,605 shares of the utilities provider’s stock valued at $4,397,000 after acquiring an additional 6,197 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Insider Activity at Entergy

In related 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the sale, the insider now owns 5,117 shares in the company, valued at approximately $614,040. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of Entergy stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,610 shares of company stock worth $5,751,954. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ETR. Barclays increased their target price on shares of Entergy from $137.00 to $152.00 and gave the company an “overweight” rating in a research report on Tuesday. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and increased their target price for the company from $138.00 to $154.00 in a research report on Monday. JPMorgan Chase & Co. increased their target price on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Wells Fargo & Company increased their target price on shares of Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Argus raised shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Entergy Stock Up 2.5 %

NYSE:ETR opened at $145.95 on Wednesday. The firm has a market capitalization of $31.21 billion, a P/E ratio of 17.78, a PEG ratio of 2.74 and a beta of 0.71. Entergy Co. has a 1-year low of $94.85 and a 1-year high of $156.85. The company’s fifty day moving average price is $130.72 and its 200-day moving average price is $117.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same quarter in the prior year, the business earned $3.27 earnings per share. As a group, equities research analysts anticipate that Entergy Co. will post 7.21 EPS for the current year.

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is currently 58.47%.

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.