Martin Capital Partners LLC Cuts Holdings in Entergy Corporation (NYSE:ETR)

Martin Capital Partners LLC lowered its stake in shares of Entergy Corporation (NYSE:ETR) by 33.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 32,816 shares of the utilities provider’s stock after selling 16,734 shares during the period. Entergy makes up approximately 3.0% of Martin Capital Partners LLC’s portfolio, making the stock its 7th biggest holding. Martin Capital Partners LLC’s holdings in Entergy were worth $2,488,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Entergy in the 3rd quarter valued at about $27,000. Cetera Trust Company N.A bought a new stake in Entergy in the third quarter valued at approximately $29,000. Fortitude Family Office LLC lifted its position in Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 178 shares during the last quarter. IFS Advisors LLC bought a new position in shares of Entergy in the fourth quarter worth approximately $30,000. Finally, Ulland Investment Advisors LLC raised its holdings in Entergy by 100.0% during the 4th quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Entergy Stock Down 0.5 %

ETR opened at $81.66 on Wednesday. The firm has a 50-day simple moving average of $77.34 and a two-hundred day simple moving average of $69.08. Entergy Corporation has a 52 week low of $48.08 and a 52 week high of $84.26. The company has a market capitalization of $35.02 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.50 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.94%. Entergy’s payout ratio is presently 58.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. BMO Capital Markets lowered their price objective on shares of Entergy from $83.00 to $79.50 and set an “outperform” rating for the company in a research note on Monday, November 18th. Wells Fargo & Company lifted their price objective on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price for the company in a report on Thursday, January 30th. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Finally, Scotiabank reduced their price target on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. Five 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.81.

Insider Activity at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the sale, the insider now owns 3,952 shares in the company, valued at $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Haley Fisackerly sold 8,268 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total transaction of $616,090.02. Following the completion of the transaction, the insider now directly owns 4,032 shares in the company, valued at $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

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.