Entergy Corporation $ETR Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC reduced its stake in shares of Entergy Corporation (NYSE:ETR) by 12.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 150,989 shares of the utilities provider’s stock after selling 21,068 shares during the quarter. Lmcg Investments LLC’s holdings in Entergy were worth $12,550,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETR. Choreo LLC increased its stake in Entergy by 12.3% in the first quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock valued at $816,000 after purchasing an additional 1,042 shares during the period. First American Trust FSB acquired a new position in Entergy in the first quarter valued at $3,896,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Entergy by 26.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock valued at $8,219,000 after purchasing an additional 19,862 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in Entergy in the first quarter valued at $32,658,000. Finally, Empowered Funds LLC increased its stake in Entergy by 369.8% in the first quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock valued at $7,352,000 after purchasing an additional 67,696 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Trading Down 0.4%

Shares of Entergy stock opened at $95.19 on Friday. Entergy Corporation has a 52-week low of $64.72 and a 52-week high of $98.58. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The company’s 50-day simple moving average is $90.45 and its 200-day simple moving average is $85.70. The firm has a market cap of $42.49 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 2.60 and a beta of 0.62.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The business had revenue of $2.37 billion for the quarter. As a group, equities research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, August 13th. Entergy’s dividend payout ratio is presently 59.85%.

Insiders Place Their Bets

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider directly owned 3,318 shares in the company, valued at approximately $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

ETR has been the topic of a number of recent research reports. Scotiabank set a $105.00 price objective on shares of Entergy and gave the company an “outperform” rating in a research note on Friday, October 3rd. Mizuho set a $97.00 price objective on shares of Entergy and gave the company an “outperform” rating in a research note on Thursday, July 31st. Raymond James Financial initiated coverage on shares of Entergy in a research note on Friday, June 13th. They issued a “market perform” rating on the stock. Jefferies Financial Group began coverage on shares of Entergy in a research note on Thursday, September 4th. They issued a “buy” rating and a $109.00 price objective on the stock. Finally, Morgan Stanley dropped their price target on shares of Entergy from $86.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 25th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.00.

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.