SG Americas Securities LLC Sells 37,800 Shares of Entergy Corporation $ETR

SG Americas Securities LLC cut its stake in Entergy Corporation (NYSE:ETR) by 49.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,335 shares of the utilities provider’s stock after selling 37,800 shares during the quarter. SG Americas Securities LLC’s holdings in Entergy were worth $3,270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ETR. Mattson Financial Services LLC raised its position in Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after buying an additional 150 shares during the last quarter. Atwood & Palmer Inc. boosted its holdings in Entergy by 135.7% during the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 190 shares during the last quarter. GoalVest Advisory LLC grew its stake 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 worth $29,000 after acquiring an additional 344 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Entergy in the 2nd quarter worth $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Entergy in the second quarter valued at about $31,000. Institutional investors own 88.07% of the company’s stock.

Entergy Trading Down 1.0%

NYSE:ETR opened at $94.54 on Wednesday. Entergy Corporation has a 12 month low of $73.15 and a 12 month high of $98.58. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 1.62. The firm’s 50 day moving average is $94.21 and its 200 day moving average is $88.27. The stock has a market capitalization of $42.22 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.40 and a beta of 0.63.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. The business had revenue of $2.37 billion during the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%. Sell-side analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be paid a $0.64 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.56 dividend on an annualized basis and a yield of 2.7%. This is an increase from Entergy’s previous quarterly dividend of $0.60. Entergy’s dividend payout ratio (DPR) 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 that occurred on Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total value of $495,624.00. Following the sale, the insider owned 7,899 shares of the company’s stock, 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 SEC, which is available at the SEC website. Also, Director Ralph Lewis Ropp purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average price of $96.69 per share, for a total transaction of $96,690.00. Following the completion of the purchase, the director directly owned 1,050 shares in the company, valued at $101,524.50. This represents a 2,000.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 10,179 shares of company stock valued at $981,707 over the last three months. 0.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ETR has been the topic of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Entergy in a report on Wednesday, October 8th. Wells Fargo & Company upgraded Entergy to a “strong-buy” rating in a research note on Tuesday, October 28th. BTIG Research raised Entergy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Barclays set a $100.00 price objective on Entergy and gave the stock an “overweight” rating in a research report on Monday, October 6th. Finally, Evercore ISI raised their target price on Entergy from $98.00 to $101.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and an average price target of $102.59.

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.