Entergy Corporation $ETR Stock Holdings Reduced by Narwhal Capital Management

Narwhal Capital Management cut its stake in shares of Entergy Corporation (NYSE:ETR) by 76.1% in the third quarter, HoldingsChannel reports. The fund owned 3,622 shares of the utilities provider’s stock after selling 11,512 shares during the period. Narwhal Capital Management’s holdings in Entergy were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Apella Capital LLC grew its position in shares of Entergy by 5.3% during the second quarter. Apella Capital LLC now owns 2,060 shares of the utilities provider’s stock worth $237,000 after purchasing an additional 104 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Entergy by 0.9% in the 1st quarter. Bessemer Group Inc. now owns 12,423 shares of the utilities provider’s stock valued at $1,394,000 after acquiring an additional 108 shares during the last quarter. Hidden Cove Wealth Management LLC boosted its holdings in shares of Entergy by 6.3% in the 3rd quarter. Hidden Cove Wealth Management LLC now owns 2,037 shares of the utilities provider’s stock worth $202,000 after purchasing an additional 120 shares during the period. Signature Equity Partners LLC boosted its holdings in shares of Entergy by 23.9% in the 3rd quarter. Signature Equity Partners LLC now owns 627 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 121 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Entergy by 7.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,778 shares of the utilities provider’s stock valued at $176,000 after purchasing an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Stock Up 0.0%

Shares of ETR stock opened at $111.82 on Wednesday. Entergy Corporation has a 1-year low of $90.87 and a 1-year high of $118.44. The stock’s fifty day moving average price is $105.00 and its 200 day moving average price is $107.85. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.18 and a quick ratio of 0.93. The company has a market cap of $53.43 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.50 and a beta of 0.44.

Entergy (NYSE:ETR) last released its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.25. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Entergy had a return on equity of 11.44% and a net margin of 14.63%. During the same period last year, the business posted $1.53 earnings per share. On average, research analysts expect that Entergy Corporation will post 4.41 earnings per share for the current fiscal year.

Entergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.4%. This is an increase from Entergy’s previous quarterly dividend of $0.64. The ex-dividend date is Friday, November 13th. Entergy’s dividend payout ratio is currently 62.53%.

Insider Activity at Entergy

In related news, insider Laura Landreaux sold 5,600 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $106.20, for a total value of $594,720.00. Following the completion of the transaction, the insider directly owned 22,589 shares of the company’s stock, valued at $2,398,951.80. This trade represents a 19.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

ETR has been the subject of several analyst reports. LADENBURG THALM/SH SH lowered their target price on shares of Entergy from $120.50 to $113.50 and set a “buy” rating for the company in a report on Monday, October 12th. Morgan Stanley upped their price target on shares of Entergy from $98.00 to $101.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. KeyCorp reduced their price objective on shares of Entergy from $123.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. BMO Capital Markets decreased their price objective on shares of Entergy from $124.00 to $123.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Finally, Mizuho decreased their target price on Entergy from $122.00 to $121.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus price target of $121.57.

Entergy Profile

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers. Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy. The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.