Entergy Corporation (NYSE:ETR) Stake Lowered by Martin Capital Partners LLC

Martin Capital Partners LLC lowered its stake in shares of Entergy Corporation (NYSE:ETR) by 33.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,816 shares of the utilities provider’s stock after selling 16,734 shares during the period. Entergy comprises 3.0% of Martin Capital Partners LLC’s portfolio, making the stock its 7th largest holding. Martin Capital Partners LLC’s holdings in Entergy were worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC increased its holdings in shares of Entergy by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 69 shares during the period. Acropolis Investment Management LLC grew its position in shares of Entergy by 0.8% in the 3rd quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock valued at $1,163,000 after buying an additional 69 shares during the last quarter. Great Valley Advisor Group Inc. grew its holdings in Entergy by 0.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after acquiring an additional 74 shares during the period. Bank & Trust Co grew its holdings in Entergy by 12.8% in the third quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 90 shares during the period. Finally, Prossimo Advisors LLC raised its position in shares of Entergy by 1.5% during the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after purchasing an additional 90 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on ETR shares. UBS Group lifted their price target on Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. BMO Capital Markets decreased their price target on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research report on Monday, November 18th. Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $58.00 to $75.00 in a research report on Monday, November 4th. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and upped their price target for the stock from $69.00 to $77.00 in a report on Monday, November 4th. Finally, KeyCorp lowered Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.81.

Insider Activity

In other news, insider Haley Fisackerly sold 8,268 shares of Entergy stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the transaction, the insider now owns 4,032 shares in the company, valued at $300,444.48. This trade represents a 67.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Deanna D. Rodriguez sold 6,088 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the completion of the sale, the insider now owns 3,952 shares of the company’s stock, valued at $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Entergy Trading Down 0.5 %

Shares of NYSE ETR opened at $81.66 on Wednesday. The firm’s 50 day moving average price is $77.34 and its 200-day moving average price is $69.08. Entergy Corporation has a 52-week low of $48.08 and a 52-week high of $84.26. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The company has a market cap of $35.02 billion, a PE ratio of 19.89, a P/E/G ratio of 2.50 and a beta of 0.72.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, February 10th. Entergy’s dividend payout ratio is currently 58.47%.

Entergy Company Profile

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.