Kayne Anderson Capital Advisors LP Sells 56,648 Shares of Entergy Corporation $ETR

Kayne Anderson Capital Advisors LP decreased its position in shares of Entergy Corporation (NYSE:ETR) by 8.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 593,705 shares of the utilities provider’s stock after selling 56,648 shares during the quarter. Entergy makes up 1.1% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 18th largest position. Kayne Anderson Capital Advisors LP’s holdings in Entergy were worth $49,349,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mattson Financial Services LLC boosted its stake in Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 150 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Entergy in the 1st quarter valued at about $28,000. Atwood & Palmer Inc. raised its holdings in shares of Entergy by 135.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. GoalVest Advisory LLC raised its holdings in shares of Entergy by 5,733.3% in the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 344 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Entergy in the 2nd quarter valued at about $30,000. Institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ETR. Bank of America raised their price objective on Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Scotiabank set a $105.00 price objective on Entergy and gave the company an “outperform” rating in a report on Friday, October 3rd. BTIG Research raised Entergy to a “strong-buy” rating in a report on Wednesday, October 22nd. Morgan Stanley set a $93.00 price objective on Entergy and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Barclays set a $100.00 price objective on Entergy and gave the company an “overweight” rating in a report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and an average target price of $102.37.

Entergy Trading Up 0.1%

NYSE ETR opened at $96.28 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 1.62. Entergy Corporation has a twelve month low of $72.17 and a twelve month high of $98.58. The firm has a market capitalization of $43.00 billion, a PE ratio of 23.77, a P/E/G ratio of 2.40 and a beta of 0.63. The stock’s 50 day moving average is $92.73 and its 200 day moving average is $87.48.

Entergy (NYSE:ETR) last released its earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%.The business had revenue of $2.37 billion for the quarter. Research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.7%. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, November 13th. Entergy’s dividend payout ratio is presently 63.21%.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 5,136 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total value of $495,624.00. Following the completion of the transaction, the insider owned 7,899 shares in the company, valued at $762,253.50. The trade was a 39.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anastasia Minor sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the sale, the insider owned 10,122 shares of the company’s stock, valued at approximately $975,659.58. This trade represents a 33.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,324 shares of company stock worth $994,902 over the last three months. Corporate insiders own 0.39% of the company’s stock.

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.