Sumitomo Mitsui Trust Group Inc. Sells 4,101 Shares of Entergy Corporation $ETR

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Entergy Corporation (NYSE:ETR) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 974,255 shares of the utilities provider’s stock after selling 4,101 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Entergy worth $80,980,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Choreo LLC raised its stake in shares of Entergy by 12.3% during the first quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock valued at $816,000 after acquiring an additional 1,042 shares during the last quarter. First American Trust FSB bought a new position in Entergy during the first quarter worth $3,896,000. Zurich Insurance Group Ltd FI bought a new position in Entergy during the first quarter worth $32,658,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Entergy by 26.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock worth $8,219,000 after buying an additional 19,862 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Entergy by 369.8% during the first quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock worth $7,352,000 after buying an additional 67,696 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ETR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Entergy in a research note on Saturday. BMO Capital Markets reissued an “outperform” rating and set a $104.00 target price (up previously from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. BTIG Research raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their target price on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Finally, Barclays set a $100.00 price target on shares of Entergy and gave the stock an “overweight” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the transaction, the insider directly owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Entergy Stock Up 1.0%

Shares of NYSE ETR opened at $96.62 on Monday. The stock has a market capitalization of $43.13 billion, a P/E ratio of 24.06, a P/E/G ratio of 2.43 and a beta of 0.62. The company has a 50-day moving average price of $91.61 and a 200-day moving average price of $86.69. Entergy Corporation has a 1 year low of $66.85 and a 1 year high of $98.58. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. The firm had revenue of $2.37 billion during the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. On average, equities research analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

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.