Entropy Technologies LP Lowers Stock Holdings in Entergy Co. (NYSE:ETR)

Entropy Technologies LP decreased its position in shares of Entergy Co. (NYSE:ETR) by 83.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,160 shares of the utilities provider’s stock after selling 30,813 shares during the quarter. Entropy Technologies LP’s holdings in Entergy were worth $811,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bank & Trust Co lifted its stake in shares of Entergy by 12.8% during the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock valued at $105,000 after buying an additional 90 shares in the last quarter. Prossimo Advisors LLC lifted its stake in shares of Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after buying an additional 90 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of Entergy by 2.3% during the 2nd quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock valued at $436,000 after buying an additional 92 shares in the last quarter. Alliance Wealth Advisors LLC lifted its stake in shares of Entergy by 3.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider’s stock valued at $341,000 after buying an additional 92 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Entergy by 5.4% in the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 1,858 shares of the utilities provider’s stock worth $245,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling at Entergy

In other Entergy news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the sale, the insider now directly owns 5,117 shares of the company’s stock, valued at $614,040. The trade was a 50.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew S. Marsh sold 19,200 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,140,475.85. The trade was a 11.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,472 shares of company stock valued at $5,076,328 in the last three months. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Scotiabank boosted their price target on shares of Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Argus upgraded shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. JPMorgan Chase & Co. boosted their price target on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, Barclays boosted their price target on shares of Entergy from $137.00 to $152.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Entergy Stock Performance

Shares of NYSE:ETR opened at $147.05 on Friday. The company has a market capitalization of $31.53 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 2.49 and a beta of 0.71. Entergy Co. has a 12 month low of $96.15 and a 12 month high of $156.85. The firm’s 50-day moving average is $133.98 and its 200 day moving average is $119.52. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, beating the consensus estimate of $2.91 by $0.08. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period in the prior year, the firm posted $3.27 EPS. Research analysts predict that Entergy Co. will post 7.21 EPS for the current year.

Entergy Increases Dividend

The business also recently disclosed 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 represents a $4.80 annualized dividend and a yield of 3.26%. This is a boost from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, November 13th. Entergy’s payout ratio is 58.47%.

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.