Cornercap Investment Counsel Inc. Has $852,000 Stake in Entergy Co. (NYSE:ETR)

Cornercap Investment Counsel Inc. reduced its holdings in Entergy Co. (NYSE:ETR) by 32.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,474 shares of the utilities provider’s stock after selling 3,041 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Entergy were worth $852,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ETR. Iron Horse Wealth Management LLC bought a new position in Entergy during the second quarter valued at about $25,000. Cetera Trust Company N.A acquired a new stake in shares of Entergy during the 3rd quarter worth approximately $29,000. Fortitude Family Office LLC increased its position in shares of Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 178 shares during the period. American National Bank raised its stake in shares of Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 134 shares in the last quarter. Finally, TruNorth Capital Management LLC bought a new position in Entergy in the second quarter worth $32,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Down 0.4 %

Shares of NYSE:ETR opened at $147.05 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The firm has a market cap of $31.53 billion, a P/E ratio of 17.91, a P/E/G ratio of 2.47 and a beta of 0.71. Entergy Co. has a 12 month low of $96.15 and a 12 month high of $156.85. The company’s 50-day moving average price is $133.98 and its two-hundred day moving average price is $119.52.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the previous year, the business posted $3.27 EPS. As a group, research analysts forecast that Entergy Co. will post 7.21 EPS for the current fiscal year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a yield of 3.26%. This is a boost from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is 58.47%.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,134 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total transaction of $616,090.02. Following the sale, the insider now owns 2,016 shares of the company’s stock, valued at approximately $300,444.48. This trade represents a 67.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew S. Marsh sold 600 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,092,241.93. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,472 shares of company stock worth $5,076,328. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ETR. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and increased their price objective for the company from $138.00 to $154.00 in a research note on Monday, November 4th. Guggenheim raised their price target on shares of Entergy from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Scotiabank lifted their price objective on Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $116.00 to $150.00 in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their price target on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

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.