Entropy Technologies LP Reduces Stock Holdings in Entergy Co. (NYSE:ETR)

Entropy Technologies LP cut its stake in Entergy Co. (NYSE:ETR - Free Report) by 83.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,160 shares of the utilities provider's stock after selling 30,813 shares during the quarter. Entropy Technologies LP's holdings in Entergy were worth $811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Iron Horse Wealth Management LLC bought a new stake in shares of Entergy during the 2nd quarter worth approximately $25,000. Cetera Trust Company N.A bought a new stake in shares of Entergy during the third quarter worth $29,000. Fortitude Family Office LLC boosted its stake in shares of Entergy by 423.8% during 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 period. American National Bank grew its holdings in shares of Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider's stock worth $30,000 after purchasing an additional 134 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new stake in Entergy during the 2nd quarter valued at about $32,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Eliecer Viamontes sold 5,166 shares of Entergy stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the transaction, the insider now owns 5,117 shares in the company, valued at $614,040. The trade was a 50.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew S. Marsh sold 19,200 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.35, for a total value of $2,310,720.00. Following the transaction, the chief executive officer now owns 150,731 shares in the company, valued at $18,140,475.85. This represents a 11.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,472 shares of company stock valued at $5,076,328 in the last ninety days. Insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ETR shares. Bank of America lowered shares of Entergy from a "buy" rating to a "neutral" rating and raised their target price for the stock from $138.00 to $154.00 in a research report on Monday, November 4th. BMO Capital Markets lifted their target price on Entergy from $146.00 to $166.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Argus raised Entergy to a "strong-buy" rating in a research report on Wednesday, August 28th. Mizuho lifted their price objective on Entergy from $138.00 to $165.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Finally, StockNews.com raised Entergy from a "sell" rating to a "hold" rating in a research report on Saturday, November 9th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $150.96.

Entergy Stock Performance

NYSE:ETR traded up $2.09 during trading hours on Friday, hitting $149.13. 2,590,142 shares of the company were exchanged, compared to its average volume of 1,616,442. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy Co. has a 52-week low of $96.15 and a 52-week high of $156.85. The stock has a market capitalization of $31.97 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.47 and a beta of 0.71. The company's 50 day moving average price is $134.47 and its 200-day moving average price is $119.71.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.08. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period in the prior year, the firm earned $3.27 EPS. As a group, research analysts forecast that Entergy Co. will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.22%. This is a boost from Entergy's previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. Entergy's payout ratio is presently 58.47%.

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.