First County Bank CT Sells 1,042 Shares of Entergy Co. (NYSE:ETR)

First County Bank CT decreased its stake in shares of Entergy Co. (NYSE:ETR) by 13.9% during the second quarter, Holdings Channel reports. The firm owned 6,474 shares of the utilities provider’s stock after selling 1,042 shares during the quarter. First County Bank CT’s holdings in Entergy were worth $693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. The Manufacturers Life Insurance Company lifted its holdings in shares of Entergy by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 461,175 shares of the utilities provider’s stock valued at $49,346,000 after buying an additional 18,422 shares during the period. Millennium Management LLC lifted its holdings in Entergy by 185.5% in the second quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider’s stock valued at $200,804,000 after acquiring an additional 1,219,419 shares during the period. MBB Public Markets I LLC bought a new position in Entergy in the second quarter valued at about $1,637,000. Dark Forest Capital Management LP grew its stake in shares of Entergy by 122.0% during the 2nd quarter. Dark Forest Capital Management LP now owns 6,887 shares of the utilities provider’s stock valued at $737,000 after purchasing an additional 3,785 shares during the period. Finally, Decade Renewable Partners LP increased its position in shares of Entergy by 45.0% during the 2nd quarter. Decade Renewable Partners LP now owns 115,118 shares of the utilities provider’s stock valued at $12,318,000 after purchasing an additional 35,716 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Shares of NYSE:ETR opened at $129.58 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. The firm has a market cap of $27.67 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 2.46 and a beta of 0.73. The firm has a fifty day moving average price of $120.18 and a 200 day moving average price of $111.56. Entergy Co. has a fifty-two week low of $87.10 and a fifty-two week high of $131.03.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business posted $1.84 earnings per share. As a group, sell-side analysts expect that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 annualized dividend and a dividend yield of 3.49%. Entergy’s dividend payout ratio (DPR) is 45.34%.

Analyst Ratings Changes

Several analysts recently issued reports on ETR shares. BMO Capital Markets boosted their target price on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $109.50 price target (down previously from $117.00) on shares of Entergy in a report on Wednesday, June 12th. Guggenheim raised their price objective on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Mizuho boosted their price objective on Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Bank of America raised their target price on shares of Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and an average target price of $127.81.

Insider Activity

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now owns 34,993 shares in the company, valued at $4,549,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the completion of the transaction, the chief operating officer now owns 34,993 shares in the company, valued at $4,549,090. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $4,288,742.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,810 shares of company stock worth $6,140,626. 0.39% of the stock is currently owned by insiders.

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.