Entergy Co. (NYSE:ETR) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management lowered its position in shares of Entergy Co. (NYSE:ETR) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,783 shares of the utilities provider’s stock after selling 563 shares during the quarter. Meritage Portfolio Management’s holdings in Entergy were worth $6,454,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Entergy by 14.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,415 shares of the utilities provider’s stock valued at $548,000 after buying an additional 700 shares during the period. Atria Wealth Solutions Inc. boosted its stake in Entergy by 211.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,230 shares of the utilities provider’s stock valued at $732,000 after purchasing an additional 4,909 shares during the period. Cognios Beta Neutral Large Cap Fund LP acquired a new position in Entergy during the 4th quarter valued at about $399,000. GAMMA Investing LLC acquired a new position in Entergy during the 4th quarter valued at about $238,000. Finally, Jennison Associates LLC acquired a new position in Entergy during the 4th quarter valued at about $28,506,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Activity at Entergy

In other news, EVP Marcus V. Brown sold 8,500 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the transaction, the executive vice president now owns 9,911 shares in the company, valued at approximately $1,019,247.24. The sale was disclosed in a filing with the SEC, which is available at this link. In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $102.84, for a total transaction of $874,140.00. Following the sale, the executive vice president now owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the sale, the executive vice president now directly owns 16,037 shares in the company, valued at approximately $1,609,312.95. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $1,226,685 in the last ninety days. 0.39% of the stock is currently owned by insiders.

Entergy Stock Performance

Shares of Entergy stock traded down $1.01 on Friday, reaching $106.52. The stock had a trading volume of 787,948 shares, compared to its average volume of 1,413,035. The business’s 50-day moving average price is $103.28 and its two-hundred day moving average price is $100.57. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.32 and a current ratio of 0.69. Entergy Co. has a fifty-two week low of $87.10 and a fifty-two week high of $108.81. The stock has a market cap of $22.71 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 2.10 and a beta of 0.71.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). Entergy had a return on equity of 10.20% and a net margin of 17.75%. The firm had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Entergy’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that Entergy Co. will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 4.24%. The ex-dividend date is Wednesday, May 1st. Entergy’s payout ratio is currently 45.34%.

Wall Street Analyst Weigh In

A number of analysts have commented on ETR shares. BMO Capital Markets boosted their price target on shares of Entergy from $110.00 to $113.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Barclays dropped their target price on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. Royal Bank of Canada restated an “outperform” rating and set a $117.00 price target on shares of Entergy in a report on Monday, February 26th. KeyCorp boosted their price target on shares of Entergy from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Scotiabank cut their price target on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.45.

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.