Intech Investment Management LLC Sells 5,116 Shares of Entergy Corporation (NYSE:ETR)

Intech Investment Management LLC lowered its stake in shares of Entergy Corporation (NYSE:ETR) by 13.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 33,079 shares of the utilities provider’s stock after selling 5,116 shares during the quarter. Intech Investment Management LLC’s holdings in Entergy were worth $4,354,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares in the last quarter. Cetera Trust Company N.A bought a new stake in Entergy during the third quarter worth about $29,000. Iron Horse Wealth Management LLC acquired a new stake in Entergy during the second quarter worth about $25,000. Coastline Trust Co bought a new position in Entergy in the 3rd quarter valued at about $31,000. Finally, American National Bank lifted its holdings in shares of Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares during the period. Institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

ETR stock opened at $151.06 on Friday. The company has a market capitalization of $32.39 billion, a P/E ratio of 18.40, a PEG ratio of 2.50 and a beta of 0.71. The company has a fifty day moving average price of $137.74 and a 200-day moving average price of $121.50. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. Entergy Corporation has a 52-week low of $96.15 and a 52-week high of $156.85.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company earned $3.27 EPS. As a group, equities analysts expect that Entergy Corporation will post 7.21 EPS for the current year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a yield of 3.18%. Entergy’s dividend payout ratio is presently 58.47%.

Insider Buying and Selling at Entergy

In related news, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $619,920.00. Following the completion of the sale, the insider now owns 5,117 shares of the company’s stock, valued at $614,040. This trade represents a 50.24 % 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, insider Haley Fisackerly sold 4,134 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $149.03, for a total value of $616,090.02. Following the completion of the transaction, the insider now directly owns 2,016 shares in the company, valued at approximately $300,444.48. This trade represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,472 shares of company stock valued at $5,076,328. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ETR shares. Wells Fargo & Company lifted their price objective on shares of Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Scotiabank lifted their price target on Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Guggenheim upped their price objective on Entergy from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Royal Bank of Canada increased their target price on shares of Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $150.42.

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.