Intech Investment Management LLC Reduces Position in Entergy Corporation (NYSE:ETR)

Intech Investment Management LLC lessened its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. 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.

Several other institutional investors have also added to or reduced their stakes in the business. OneDigital Investment Advisors LLC boosted its holdings in Entergy by 2.1% in the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider's stock worth $451,000 after acquiring an additional 69 shares in the last quarter. Bank & Trust Co lifted its holdings in shares of Entergy by 12.8% during the third quarter. Bank & Trust Co now owns 795 shares of the utilities provider's stock worth $105,000 after purchasing an additional 90 shares during the period. Prossimo Advisors LLC lifted its holdings in shares of Entergy by 1.5% during the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider's stock worth $786,000 after purchasing an additional 90 shares during the period. HBK Sorce Advisory LLC lifted its holdings in shares of Entergy by 2.3% during the second quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider's stock worth $436,000 after purchasing an additional 92 shares during the period. Finally, Alliance Wealth Advisors LLC lifted its holdings in shares of Entergy by 3.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider's stock worth $341,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Entergy Trading Down 0.3 %

NYSE ETR traded down $0.49 on Friday, reaching $151.06. 1,850,035 shares of the company were exchanged, compared to its average volume of 2,233,452. The business's fifty day moving average price is $137.74 and its 200 day moving average price is $121.50. The stock has a market capitalization of $32.39 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 2.53 and a beta of 0.71. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. Entergy Corporation has a fifty-two week low of $96.15 and a fifty-two week high of $156.85.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. The company 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 quarter in the prior year, the business earned $3.27 EPS. Analysts forecast that Entergy Corporation will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. KeyCorp lifted their target price on Entergy from $143.00 to $162.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. BMO Capital Markets reduced their price target on Entergy from $166.00 to $159.00 and set an "outperform" rating for the company in a research report on Monday, November 18th. Royal Bank of Canada lifted their price target on Entergy from $137.00 to $140.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Mizuho lifted their price target on Entergy from $138.00 to $165.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Finally, Argus upgraded Entergy to a "strong-buy" rating in a research report on Wednesday, August 28th. Five equities research analysts have rated the stock with 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 stock has an average rating of "Moderate Buy" and an average price target of $150.42.

Insider Activity at Entergy

In other news, CEO Andrew S. Marsh sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares of the company's stock, valued at $18,092,241.93. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $122.56, for a total value of $398,320.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares of the company's stock, valued at $4,288,742.08. This represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,472 shares of company stock valued at $5,076,328 in the last three months. 0.39% of the stock is currently owned by company 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.