Investors Sell Shares of Entergy Corporation (ETR) on Strength Following Insider Selling
Investors sold shares of Entergy Corporation (NYSE:ETR) on strength during trading hours on Monday after an insider sold shares in the company. $13.01 million flowed into the stock on the tick-up and $38.42 million flowed out of the stock on the tick-down, for a money net flow of $25.41 million out of the stock. Of all equities tracked, Entergy Corporation had the 28th highest net out-flow for the day. Entergy Corporation traded up $0.41 for the day and closed at $78.25Specifically, insider Sallie T. Rainer sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $77.78, for a total transaction of $77,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexis M. Herman sold 995 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $76.38, for a total transaction of $75,998.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,495 shares of company stock valued at $192,363. 0.24% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $78.00 price target on shares of Entergy Corporation in a report on Friday, August 4th. BidaskClub raised shares of Entergy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Morgan Stanley upped their price target on shares of Entergy Corporation from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of Entergy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating on shares of Entergy Corporation in a report on Friday, August 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $78.77.
The stock’s 50-day moving average is $76.40 and its 200 day moving average is $76.13. The firm’s market capitalization is $14.05 billion.
Entergy Corporation (NYSE:ETR) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $1.91. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the business posted $3.16 earnings per share. On average, equities analysts predict that Entergy Corporation will post $6.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be issued a $0.87 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.45%. Entergy Corporation’s payout ratio is -69.74%.
Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Entergy Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock worth $1,513,680,000 after buying an additional 470,255 shares during the last quarter. BlackRock Inc. raised its stake in shares of Entergy Corporation by 1.0% in the second quarter. BlackRock Inc. now owns 16,243,801 shares of the utilities provider’s stock worth $1,247,035,000 after buying an additional 154,117 shares during the last quarter. State Street Corp raised its stake in shares of Entergy Corporation by 1.2% in the first quarter. State Street Corp now owns 9,721,185 shares of the utilities provider’s stock worth $738,419,000 after buying an additional 115,341 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Entergy Corporation by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 4,461,044 shares of the utilities provider’s stock worth $338,859,000 after buying an additional 305,111 shares during the last quarter. Finally, AJO LP raised its stake in shares of Entergy Corporation by 16.0% in the second quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock worth $270,119,000 after buying an additional 485,602 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.
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About Entergy Corporation
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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