11,512 Entergy Corporation $ETR Shares Sold by Narwhal Capital Management

Narwhal Capital Management lowered its holdings in Entergy Corporation (NYSE:ETR) by 76.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,622 shares of the utilities provider’s stock after selling 11,512 shares during the period. Narwhal Capital Management’s holdings in Entergy were worth $360,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Apella Capital LLC grew its position in shares of Entergy by 5.3% in the second quarter. Apella Capital LLC now owns 2,060 shares of the utilities provider’s stock valued at $237,000 after purchasing an additional 104 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Entergy by 0.9% during the 1st quarter. Bessemer Group Inc. now owns 12,423 shares of the utilities provider’s stock worth $1,394,000 after purchasing an additional 108 shares in the last quarter. Hidden Cove Wealth Management LLC lifted its holdings in Entergy by 6.3% during the 3rd quarter. Hidden Cove Wealth Management LLC now owns 2,037 shares of the utilities provider’s stock worth $202,000 after purchasing an additional 120 shares in the last quarter. Signature Equity Partners LLC boosted its stake in Entergy by 23.9% in the 3rd quarter. Signature Equity Partners LLC now owns 627 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 121 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Entergy by 7.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,778 shares of the utilities provider’s stock valued at $176,000 after buying an additional 123 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ETR shares. Scotiabank decreased their price target on shares of Entergy from $129.00 to $121.00 and set an “outperform” rating on the stock in a report on Wednesday, September 30th. Morgan Stanley lifted their price objective on Entergy from $98.00 to $101.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 21st. Wall Street Zen upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets reduced their target price on Entergy from $124.00 to $123.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Finally, Mizuho decreased their target price on Entergy from $122.00 to $121.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Twenty investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.57.

Insiders Place Their Bets

In other news, insider Laura Landreaux sold 5,600 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $106.20, for a total transaction of $594,720.00. Following the sale, the insider owned 22,589 shares of the company’s stock, valued at $2,398,951.80. This trade represents a 19.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Entergy Price Performance

Shares of NYSE ETR opened at $111.82 on Wednesday. The company’s 50-day moving average is $105.00 and its 200 day moving average is $107.85. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.18 and a quick ratio of 0.93. The stock has a market capitalization of $53.43 billion, a P/E ratio of 25.70, a P/E/G ratio of 2.50 and a beta of 0.44. Entergy Corporation has a 1 year low of $90.87 and a 1 year high of $118.44.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Monday, November 2nd. The utilities provider reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.25. The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Entergy had a net margin of 14.63% and a return on equity of 11.44%. During the same quarter in the prior year, the company earned $1.53 earnings per share. On average, sell-side analysts expect that Entergy Corporation will post 4.41 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a $0.68 dividend. This is a positive change from Entergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.72 dividend on an annualized basis and a yield of 2.4%. Entergy’s payout ratio is presently 62.53%.

Entergy Company Profile

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers. Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy. The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.