IFM Investors Pty Ltd Cuts Stock Position in Entergy Co. (NYSE:ETR)

IFM Investors Pty Ltd trimmed its holdings in shares of Entergy Co. (NYSE:ETR) by 11.9% in the third quarter, Holdings Channel reports. The firm owned 67,844 shares of the utilities provider’s stock after selling 9,195 shares during the period. IFM Investors Pty Ltd’s holdings in Entergy were worth $8,929,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC acquired a new position in shares of Entergy during the second quarter worth about $25,000. Heritage Wealth Advisors raised its holdings in shares of Entergy by 2,172.7% during the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after buying an additional 239 shares during the period. Cetera Trust Company N.A acquired a new position in Entergy during the 3rd quarter worth approximately $29,000. American National Bank boosted its holdings in Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares during the period. Finally, TruNorth Capital Management LLC acquired a new stake in Entergy in the second quarter valued at approximately $32,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ETR. KeyCorp boosted their target price on shares of Entergy from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company upped their price objective 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. Bank of America lifted their target price on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Guggenheim increased their price target on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, UBS Group raised their price objective on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.19.

Insider Buying and Selling

In other Entergy news, CEO Andrew S. Marsh sold 19,200 shares of Entergy stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.35, for a total value of $2,310,720.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,140,475.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew S. Marsh sold 19,200 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,140,475.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,810 shares of company stock worth $6,140,626 over the last quarter. 0.39% of the stock is owned by company insiders.

Entergy Price Performance

Shares of NYSE ETR opened at $137.46 on Friday. The business has a 50 day simple moving average of $126.75 and a 200-day simple moving average of $115.48. Entergy Co. has a twelve month low of $90.78 and a twelve month high of $137.70. The company has a market capitalization of $29.35 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. As a group, equities research analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy 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.