Beverly Hills Private Wealth LLC Reduces Stake in Entergy Corporation $ETR

Beverly Hills Private Wealth LLC reduced its position in Entergy Corporation (NYSE:ETR) by 14.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,210 shares of the utilities provider’s stock after selling 895 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Entergy were worth $433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ETR. Mattson Financial Services LLC boosted its stake in shares of Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after buying an additional 150 shares during the last quarter. Atwood & Palmer Inc. lifted its position in Entergy by 135.7% during the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Entergy during the first quarter valued at $28,000. Wayfinding Financial LLC purchased a new position in Entergy during the first quarter valued at $32,000. Finally, Wellington Shields & Co. LLC purchased a new position in Entergy during the first quarter valued at $34,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the sale, the insider directly owned 3,318 shares of the company’s stock, valued at approximately $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.

Entergy Price Performance

NYSE:ETR opened at $96.72 on Tuesday. Entergy Corporation has a 52 week low of $66.75 and a 52 week high of $98.58. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The business’s 50-day simple moving average is $91.16 and its two-hundred day simple moving average is $86.23. The stock has a market cap of $43.18 billion, a PE ratio of 24.09, a P/E/G ratio of 2.41 and a beta of 0.62.

Entergy (NYSE:ETR) last issued its earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. Entergy had a return on equity of 11.52% and a net margin of 14.35%.The firm had revenue of $2.37 billion for the quarter. As a group, analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy’s payout ratio is 59.85%.

Analyst Ratings Changes

Several research firms recently weighed in on ETR. Scotiabank set a $105.00 target price on Entergy and gave the company an “outperform” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Entergy in a research report on Wednesday, October 8th. Mizuho set a $97.00 target price on Entergy and gave the company an “outperform” rating in a research report on Thursday, July 31st. BMO Capital Markets reiterated an “outperform” rating and set a $104.00 target price (up from $96.00) on shares of Entergy in a research report on Tuesday, October 14th. Finally, Barclays set a $100.00 target price on Entergy and gave the company an “overweight” rating in a research report on Monday, October 6th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.57.

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.