Entergy Co. (NYSE:ETR) Position Reduced by Jmac Enterprises LLC

Jmac Enterprises LLC reduced its stake in shares of Entergy Co. (NYSE:ETR) by 25.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,500 shares of the utilities provider’s stock after selling 1,900 shares during the period. Jmac Enterprises LLC’s holdings in Entergy were worth $724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Entergy by 12.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock worth $741,135,000 after purchasing an additional 763,834 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Entergy by 47.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after acquiring an additional 2,075,776 shares during the last quarter. Capital International Investors boosted its holdings in shares of Entergy by 64.2% in the 1st quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after buying an additional 1,630,057 shares during the period. ClearBridge Investments Ltd raised its position in shares of Entergy by 0.6% during the 2nd quarter. ClearBridge Investments Ltd now owns 3,137,110 shares of the utilities provider’s stock worth $335,671,000 after purchasing an additional 20,025 shares during the period. Finally, Capital Research Global Investors increased its position in Entergy by 22.5% in the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock worth $290,963,000 after buying an additional 505,705 shares during the period. Institutional investors own 88.07% of the company’s stock.

Insider Transactions at Entergy

In other news, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at approximately $4,549,090. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,138 shares of company stock worth $4,430,838 over the last three months. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ETR. JPMorgan Chase & Co. increased their price objective on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Barclays raised their price target on Entergy from $137.00 to $152.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank of Canada increased their target price on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. BMO Capital Markets lifted their price objective on shares of Entergy from $146.00 to $166.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, UBS Group increased their target price on shares of Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Entergy Stock Performance

Shares of ETR stock opened at $146.06 on Thursday. Entergy Co. has a fifty-two week low of $94.85 and a fifty-two week high of $156.85. The stock’s 50-day moving average is $131.25 and its two-hundred day moving average is $118.08. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The firm has a market cap of $31.32 billion, a P/E ratio of 17.79, a PEG ratio of 2.69 and a beta of 0.71.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business earned $3.27 earnings per share. Analysts predict that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be given a $1.20 dividend. This is an increase from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a yield of 3.29%. The ex-dividend date is Wednesday, November 13th. Entergy’s payout ratio is currently 55.05%.

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.