Peter S. Norgeot, Jr. Sells 3,250 Shares of Entergy Co. (NYSE:ETR) Stock

Entergy Co. (NYSE:ETR) COO Peter S. Norgeot, Jr. sold 3,250 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $122.56, for a total value of $398,320.00. Following the sale, the chief operating officer now owns 34,993 shares of the company’s stock, valued at $4,288,742.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Entergy Stock Performance

Shares of ETR stock traded down $0.56 during trading hours on Tuesday, hitting $121.61. 2,306,777 shares of the company were exchanged, compared to its average volume of 1,539,408. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $26.00 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 2.31 and a beta of 0.73. The firm has a fifty day simple moving average of $114.88 and a 200 day simple moving average of $109.34. Entergy Co. has a 52-week low of $87.10 and a 52-week high of $123.73.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the company earned $1.84 EPS. Research analysts predict that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were given a dividend of $1.13 per share. The ex-dividend date was Tuesday, August 13th. This represents a $4.52 annualized dividend and a dividend yield of 3.72%. Entergy’s dividend payout ratio is currently 45.34%.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. LADENBURG THALM/SH SH restated a “neutral” rating and set a $109.50 price objective (down from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Barclays reduced their target price on Entergy from $116.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Mizuho upped their price objective on Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, KeyCorp lifted their target price on Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and an average price target of $123.04.

Institutional Trading of Entergy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in shares of Entergy in the second quarter worth $3,876,000. Strategic Investment Solutions Inc. IL bought a new position in Entergy in the 2nd quarter worth about $42,000. Clearbridge Investments LLC raised its holdings in shares of Entergy by 15.5% in the 2nd quarter. Clearbridge Investments LLC now owns 3,181 shares of the utilities provider’s stock valued at $340,000 after acquiring an additional 427 shares in the last quarter. Truist Financial Corp boosted its position in shares of Entergy by 42.0% during the 2nd quarter. Truist Financial Corp now owns 906,795 shares of the utilities provider’s stock valued at $97,027,000 after acquiring an additional 268,004 shares during the last quarter. Finally, Brandes Investment Partners LP purchased a new position in shares of Entergy during the second quarter worth about $32,017,000. 88.07% of the stock is currently owned by institutional investors.

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.