New Millennium Group LLC Reduces Position in Entergy Corporation (NYSE:ETR)

New Millennium Group LLC trimmed its holdings in Entergy Corporation (NYSE:ETR) by 75.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405 shares of the utilities provider’s stock after selling 1,263 shares during the quarter. New Millennium Group LLC’s holdings in Entergy were worth $31,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. raised its holdings in shares of Entergy by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock worth $754,318,000 after acquiring an additional 1,981,611 shares during the period. JPMorgan Chase & Co. increased its position in Entergy by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after purchasing an additional 1,354,355 shares during the last quarter. Confluence Investment Management LLC raised its stake in Entergy by 96.0% during the fourth quarter. Confluence Investment Management LLC now owns 1,607,273 shares of the utilities provider’s stock worth $121,863,000 after purchasing an additional 787,367 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Entergy by 1,490.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 687,874 shares of the utilities provider’s stock valued at $52,155,000 after purchasing an additional 644,622 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Entergy by 16,409.2% in the 3rd quarter. International Assets Investment Management LLC now owns 466,716 shares of the utilities provider’s stock valued at $61,424,000 after buying an additional 463,889 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 8,268 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $74.52, for a total value of $616,090.02. Following the sale, the insider now owns 4,032 shares of the company’s stock, valued at approximately $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at $292,210.88. This trade represents a 60.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,756 shares of company stock valued at $1,095,637 over the last quarter. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

ETR has been the topic of a number of research analyst reports. BMO Capital Markets reduced their target price on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research report on Monday, November 18th. KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their price target on shares of Entergy from $68.50 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Guggenheim lifted their target price on shares of Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Five investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.81.

Entergy Stock Down 0.0 %

ETR opened at $81.17 on Friday. The business has a 50 day moving average price of $77.11 and a two-hundred day moving average price of $68.51. Entergy Corporation has a 52 week low of $48.08 and a 52 week high of $84.26. The company has a market cap of $34.81 billion, a PE ratio of 19.77, a P/E/G ratio of 2.44 and a beta of 0.71. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the firm posted $1.64 EPS. As a group, research analysts anticipate that Entergy Corporation will post 3.59 EPS for the current year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.96%. Entergy’s dividend payout ratio is currently 58.47%.

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.