Cedrus LLC Sells 1,311 Shares of Entergy Co. (NYSE:ETR)

Cedrus LLC lessened its holdings in shares of Entergy Co. (NYSE:ETR) by 41.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,859 shares of the utilities provider’s stock after selling 1,311 shares during the period. Cedrus LLC’s holdings in Entergy were worth $245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ETR. Raymond James & Associates grew its holdings in Entergy by 2.9% during the third quarter. Raymond James & Associates now owns 652,335 shares of the utilities provider’s stock valued at $85,854,000 after purchasing an additional 18,488 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of Entergy by 11.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 9,051 shares of the utilities provider’s stock valued at $1,191,000 after purchasing an additional 938 shares during the period. Blue Trust Inc. lifted its stake in Entergy by 700.0% in the 3rd quarter. Blue Trust Inc. now owns 1,696 shares of the utilities provider’s stock valued at $223,000 after acquiring an additional 1,484 shares in the last quarter. Net Worth Advisory Group bought a new stake in shares of Entergy in the third quarter worth $227,000. Finally, Claro Advisors LLC bought a new stake in Entergy during the 3rd quarter worth about $1,413,000. Institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling

In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.16, for a total value of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,307,787.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,810 shares of company stock valued at $6,140,626 in the last three months. Insiders own 0.39% of the company’s stock.

Entergy Price Performance

Shares of ETR opened at $135.28 on Monday. The business has a 50-day simple moving average of $125.66 and a two-hundred day simple moving average of $114.89. Entergy Co. has a 12-month low of $90.78 and a 12-month high of $135.79. The stock has a market cap of $28.89 billion, a PE ratio of 13.57, a PEG ratio of 2.46 and a beta of 0.74. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The business 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 earned $1.84 EPS. Analysts anticipate that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were issued a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.34%. Entergy’s payout ratio is 45.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ETR. BMO Capital Markets upped their price objective on Entergy from $131.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Scotiabank raised their price objective on shares of Entergy from $115.00 to $119.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their target price on shares of Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. 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. Finally, Barclays reduced their price objective on shares of Entergy from $138.00 to $137.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and an average price target of $130.96.

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.