Entergy Corporation (NYSE:ETR) Stock Position Lowered by First County Bank CT

First County Bank CT lessened its holdings in Entergy Corporation (NYSE:ETR) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,480 shares of the utilities provider’s stock after selling 994 shares during the period. First County Bank CT’s holdings in Entergy were worth $721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fortitude Family Office LLC raised its holdings 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 worth $29,000 after acquiring an additional 178 shares in the last quarter. Cetera Trust Company N.A bought a new stake in shares of Entergy in the 3rd quarter valued at approximately $29,000. Iron Horse Wealth Management LLC acquired a new position in shares of Entergy during the 2nd quarter worth $25,000. Coastline Trust Co bought a new position in shares of Entergy in the 3rd quarter valued at approximately $31,000. Finally, American National Bank raised its position in shares of Entergy by 93.7% in the second 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 period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Entergy stock opened at $151.93 on Friday. The business’s fifty day moving average is $137.26 and its two-hundred day moving average is $121.21. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. Entergy Corporation has a 52 week low of $96.15 and a 52 week high of $156.85. The firm has a market cap of $32.57 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.50 and a beta of 0.71.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company earned $3.27 earnings per share. Equities research analysts forecast that Entergy Corporation will post 7.21 earnings per share for the current fiscal 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 dividend of $1.20 per share. The ex-dividend date of this dividend 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 3.16%. Entergy’s payout ratio is 58.47%.

Analyst Ratings Changes

ETR has been the topic of several recent analyst reports. Argus upgraded shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Barclays upped their price target on Entergy from $137.00 to $152.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their target price on shares of Entergy from $137.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Guggenheim increased their price target on shares of Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, KeyCorp lifted their target price on Entergy from $143.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.42.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,134 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total transaction of $616,090.02. Following the completion of the transaction, the insider now directly owns 2,016 shares of the company’s stock, valued at $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew S. Marsh sold 19,200 shares of Entergy stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.35, for a total value of $2,310,720.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,140,475.85. This represents a 11.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,472 shares of company stock worth $5,076,328. 0.39% of the stock is owned by insiders.

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.