Amalgamated Bank Reduces Holdings in Entergy Co. (NYSE:ETR)

Amalgamated Bank cut its holdings in shares of Entergy Co. (NYSE:ETR - Free Report) by 28.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,948 shares of the utilities provider's stock after selling 16,969 shares during the quarter. Amalgamated Bank's holdings in Entergy were worth $5,521,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC purchased a new stake in shares of Entergy in the 2nd quarter valued at approximately $25,000. Heritage Wealth Advisors increased its position in shares of Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 239 shares during the last quarter. Cetera Trust Company N.A purchased a new stake in shares of Entergy in the 3rd quarter valued at approximately $29,000. Fortitude Family Office LLC increased its position in shares of Entergy by 423.8% in the 3rd 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. Finally, American National Bank increased its position in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 134 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Performance

Shares of ETR stock traded up $3.07 during mid-day trading on Friday, hitting $149.03. The stock had a trading volume of 2,464,624 shares, compared to its average volume of 1,610,117. Entergy Co. has a fifty-two week low of $94.85 and a fifty-two week high of $156.85. The firm has a market cap of $31.95 billion, a PE ratio of 18.15, a PEG ratio of 2.69 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The company's 50-day simple moving average is $132.34 and its 200-day simple moving average is $118.56.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The company had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $3.46 billion. During the same quarter last year, the business earned $3.27 EPS. Sell-side analysts anticipate that Entergy Co. will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be paid a $1.20 dividend. This is a boost from Entergy's previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 annualized dividend and a dividend yield of 3.22%. Entergy's dividend payout ratio (DPR) is 55.05%.

Insider Activity at Entergy

In related news, insider Eliecer Viamontes sold 200 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $147.00, for a total value of $29,400.00. Following the completion of the sale, the insider now owns 4,173 shares in the company, valued at $613,431. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the firm's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the completion of the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,092,241.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eliecer Viamontes sold 200 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $147.00, for a total transaction of $29,400.00. Following the transaction, the insider now owns 4,173 shares of the company's stock, valued at $613,431. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,338 shares of company stock worth $4,460,238 over the last 90 days. Company insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ETR. BMO Capital Markets increased their target price on shares of Entergy from $146.00 to $166.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Royal Bank of Canada increased their target price on shares of Entergy from $137.00 to $140.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Wells Fargo & Company increased their target price on shares of Entergy from $137.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Bank of America downgraded shares of Entergy from a "buy" rating to a "neutral" rating and increased their target price for the company from $138.00 to $154.00 in a research report on Monday. Finally, Barclays increased their target price on shares of Entergy from $137.00 to $152.00 and gave the company an "overweight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $150.96.

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.