Lmcg Investments LLC Reduces Holdings in Entergy Corporation $ETR

Lmcg Investments LLC lowered its stake in shares of Entergy Corporation (NYSE:ETR) by 12.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 150,989 shares of the utilities provider’s stock after selling 21,068 shares during the period. Lmcg Investments LLC’s holdings in Entergy were worth $12,550,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. My Legacy Advisors LLC boosted its position in shares of Entergy by 0.8% during the 2nd quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider’s stock worth $1,361,000 after purchasing an additional 128 shares during the period. Acropolis Investment Management LLC boosted its position in shares of Entergy by 0.7% during the 1st quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider’s stock worth $1,535,000 after purchasing an additional 129 shares during the period. Mattson Financial Services LLC boosted its position in shares of Entergy by 100.0% during the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 150 shares during the period. Cary Street Partners Investment Advisory LLC boosted its position in shares of Entergy by 18.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 165 shares during the period. Finally, Horizon Investments LLC boosted its position in shares of Entergy by 1.8% during the 1st quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider’s stock worth $854,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is owned by company insiders.

Entergy Price Performance

Shares of ETR opened at $95.19 on Friday. Entergy Corporation has a twelve month low of $64.72 and a twelve month high of $98.58. The firm’s fifty day simple moving average is $90.45 and its 200-day simple moving average is $85.70. The firm has a market capitalization of $42.49 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.60 and a beta of 0.62. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

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

Entergy Dividend Announcement

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

Wall Street Analysts Forecast Growth

ETR has been the subject of several recent research reports. KeyCorp reissued an “overweight” rating and issued a $96.00 price target (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Barclays set a $100.00 price target on shares of Entergy and gave the company an “overweight” rating in a research report on Monday. Raymond James Financial initiated coverage on shares of Entergy in a research report on Friday, June 13th. They issued a “market perform” rating for the company. Finally, Morgan Stanley decreased their price target on shares of Entergy from $86.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Entergy has an average rating of “Moderate Buy” and an average price target of $93.00.

Entergy 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.