Park Place Capital Corp Sells 913 Shares of Entergy Co. (NYSE:ETR)

Park Place Capital Corp lowered its position in shares of Entergy Co. (NYSE:ETR) by 20.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,491 shares of the utilities provider’s stock after selling 913 shares during the period. Park Place Capital Corp’s holdings in Entergy were worth $374,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital International Investors grew its holdings in shares of Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after buying an additional 1,630,057 shares during the last quarter. Franklin Resources Inc. lifted its stake in Entergy by 25.2% in the 4th quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock worth $400,901,000 after purchasing an additional 796,316 shares in the last quarter. ClearBridge Investments Ltd raised its holdings in shares of Entergy by 29.3% during the 4th quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock worth $315,254,000 after acquiring an additional 706,059 shares during the period. Federated Hermes Inc. raised its position in Entergy by 9.8% in the fourth quarter. Federated Hermes Inc. now owns 2,904,933 shares of the utilities provider’s stock valued at $293,950,000 after purchasing an additional 258,806 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Entergy by 22.5% during the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock worth $290,963,000 after buying an additional 505,705 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $109.50 price objective (down from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. BMO Capital Markets boosted their price objective on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company upped their price objective on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday. Scotiabank increased their price objective on shares of Entergy from $104.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, Morgan Stanley reduced their price objective on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.19.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the transaction, the insider now directly owns 2,479 shares in the company, valued at $273,260.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

Entergy Stock Down 3.8 %

Shares of Entergy stock traded down $4.56 on Monday, hitting $116.24. The company had a trading volume of 694,920 shares, compared to its average volume of 1,512,953. Entergy Co. has a twelve month low of $87.10 and a twelve month high of $123.61. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.45. The stock has a 50-day moving average of $109.08 and a 200-day moving average of $105.75. The firm has a market capitalization of $24.82 billion, a P/E ratio of 12.12, a P/E/G ratio of 2.29 and a beta of 0.71.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.76 by $0.16. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter in the prior year, the firm posted $1.84 EPS. Research analysts predict that Entergy Co. will post 7.21 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th will be given a $1.13 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.89%. Entergy’s payout ratio is presently 45.34%.

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.