Forsta AP Fonden Has $11.85 Million Stock Holdings in Entergy Co. (NYSE:ETR)

Forsta AP Fonden lowered its stake in Entergy Co. (NYSE:ETR) by 0.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,000 shares of the utilities provider’s stock after selling 100 shares during the quarter. Forsta AP Fonden’s holdings in Entergy were worth $11,845,000 at the end of the most recent reporting period.

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

Entergy Stock Performance

Shares of ETR stock opened at $135.38 on Monday. Entergy Co. has a 12 month low of $90.78 and a 12 month high of $138.24. The company’s fifty day simple moving average is $127.51 and its 200-day simple moving average is $115.98. The firm has a market cap of $28.95 billion, a PE ratio of 16.19, a P/E/G ratio of 2.55 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 results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.76 by $0.16. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same period in the previous year, the firm posted $1.84 EPS. Equities research analysts expect that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.55%. This is an increase from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is currently 54.07%.

Insiders Place Their Bets

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’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 completion of the transaction, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at approximately $4,549,090. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,549,090. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew S. Marsh sold 600 shares of the business’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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold 50,810 shares of company stock valued at $6,140,626 in the last 90 days. 0.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ETR. Scotiabank lifted their price target 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. Royal Bank of Canada boosted their target price on Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Argus raised Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. UBS Group boosted their price objective on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and an average price target of $131.19.

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.