Quaero Capital S.A. Cuts Holdings in Entergy Corporation $ETR

Quaero Capital S.A. lessened its holdings in Entergy Corporation (NYSE:ETR) by 48.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,899 shares of the utilities provider’s stock after selling 7,545 shares during the period. Quaero Capital S.A.’s holdings in Entergy were worth $657,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mattson Financial Services LLC lifted its stake in Entergy by 100.0% in the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Entergy in the 1st quarter valued at about $28,000. Atwood & Palmer Inc. raised its position in Entergy by 135.7% during the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. GoalVest Advisory LLC raised its stake in shares of Entergy by 5,733.3% during the second quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 344 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Entergy in the 2nd quarter worth approximately $30,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Entergy to a “strong-buy” rating in a research report on Tuesday, October 28th. KeyCorp reiterated an “overweight” rating and set a $106.00 target price (up previously from $96.00) on shares of Entergy in a report on Wednesday, October 15th. Royal Bank Of Canada raised Entergy to a “moderate buy” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. upped their price target on Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Finally, Morgan Stanley set a $93.00 target price on shares of Entergy and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and an average price target of $102.37.

Entergy Trading Up 0.1%

Shares of NYSE:ETR opened at $96.28 on Thursday. The stock has a market capitalization of $43.00 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.40 and a beta of 0.63. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71. The stock’s 50-day simple moving average is $92.73 and its two-hundred day simple moving average is $87.48. Entergy Corporation has a 52-week low of $72.17 and a 52-week high of $98.58.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. The business had revenue of $2.37 billion for the quarter. Analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.56 dividend on an annualized basis and a yield of 2.7%. This is a boost from Entergy’s previous quarterly dividend of $0.60. Entergy’s payout ratio is presently 63.21%.

Insider Buying and Selling

In other news, insider Haley Fisackerly sold 5,136 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total value of $495,624.00. Following the transaction, the insider owned 7,899 shares of the company’s stock, valued at approximately $762,253.50. The trade was a 39.40% 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, insider Anastasia Minor sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the sale, the insider owned 10,122 shares in the company, valued at approximately $975,659.58. The trade was a 33.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,324 shares of company stock worth $994,902. 0.39% of the stock is owned by insiders.

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.