DAVENPORT & Co LLC Has $372,000 Stake in Entergy Corporation $ETR

DAVENPORT & Co LLC decreased its stake in shares of Entergy Corporation (NYSE:ETR) by 85.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,480 shares of the utilities provider’s stock after selling 26,400 shares during the period. DAVENPORT & Co LLC’s holdings in Entergy were worth $372,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marks Group Wealth Management Inc raised its position in shares of Entergy by 58.2% in the 2nd quarter. Marks Group Wealth Management Inc now owns 28,161 shares of the utilities provider’s stock valued at $2,341,000 after buying an additional 10,357 shares in the last quarter. Simplicity Wealth LLC acquired a new position in shares of Entergy in the 2nd quarter valued at approximately $408,000. AMF Tjanstepension AB acquired a new position in shares of Entergy in the 2nd quarter valued at approximately $30,969,000. 111 Capital acquired a new position in shares of Entergy in the 2nd quarter valued at approximately $1,019,000. Finally, Segment Wealth Management LLC raised its position in shares of Entergy by 17.2% in the 2nd quarter. Segment Wealth Management LLC now owns 7,107 shares of the utilities provider’s stock valued at $591,000 after buying an additional 1,045 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the firm’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 completion of the sale, the insider owned 3,318 shares in the company, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.39% of the company’s stock.

Entergy Stock Down 0.4%

Shares of NYSE ETR opened at $95.19 on Monday. The firm has a market cap of $42.49 billion, a PE ratio of 23.71, a P/E/G ratio of 2.59 and a beta of 0.62. Entergy Corporation has a 12-month low of $64.72 and a 12-month high of $98.58. The company’s fifty day simple moving average is $90.45 and its 200 day simple moving average is $85.72. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR) last issued its 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, sell-side analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, August 13th. Entergy’s dividend payout ratio (DPR) is 59.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Scotiabank set a $105.00 target price on shares of Entergy and gave the company an “outperform” rating in a research report on Friday, October 3rd. Barclays set a $100.00 price objective on shares of Entergy and gave the stock an “overweight” rating in a research report on Monday, October 6th. KeyCorp reiterated an “overweight” rating and set a $96.00 price objective (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Evercore ISI set a $98.00 price objective on shares of Entergy and gave the stock an “in-line” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.00.

About Entergy

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.