Traders Sell Entergy (ETR) on Strength After Insider Selling
Traders sold shares of Entergy Co. (NYSE:ETR) on strength during trading hours on Wednesday after an insider sold shares in the company. $39.00 million flowed into the stock on the tick-up and $48.87 million flowed out of the stock on the tick-down, for a money net flow of $9.87 million out of the stock. Of all equities tracked, Entergy had the 26th highest net out-flow for the day. Entergy traded up $1.17 for the day and closed at $88.98Specifically, insider Sallie T. Rainer sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $86.61, for a total value of $173,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Paul D. Hinnenkamp sold 7,000 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $87.50, for a total transaction of $612,500.00. The disclosure for this sale can be found here. Insiders sold 76,727 shares of company stock valued at $6,644,282 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.
A number of equities research analysts have commented on ETR shares. Wells Fargo & Co raised their price target on shares of Entergy from $91.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Morgan Stanley raised their price objective on shares of Entergy from $83.00 to $87.00 and gave the company a “hold” rating in a research note on Tuesday, September 11th. Bank of America raised their price objective on shares of Entergy from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. JPMorgan Chase & Co. raised their price objective on shares of Entergy from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, August 29th. Finally, Citigroup raised their price objective on shares of Entergy from $88.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, October 17th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Entergy currently has a consensus rating of “Buy” and a consensus price target of $89.63.
The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.49 and a current ratio of 0.64. The company has a market cap of $15.77 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42.
The company also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Thursday, November 8th were given a dividend of $0.91 per share. This is a positive change from Entergy’s previous quarterly dividend of $0.89. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Wednesday, November 7th. Entergy’s dividend payout ratio (DPR) is presently 50.56%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Braun Bostich & Associates Inc. lifted its position in shares of Entergy by 1,320.4% during the second quarter. Braun Bostich & Associates Inc. now owns 1,392 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 1,294 shares in the last quarter. Advisors Preferred LLC lifted its position in shares of Entergy by 200.8% during the second quarter. Advisors Preferred LLC now owns 2,178 shares of the utilities provider’s stock valued at $176,000 after purchasing an additional 1,454 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Entergy by 65.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,191 shares of the utilities provider’s stock valued at $177,000 after purchasing an additional 869 shares in the last quarter. ELM Advisors LLC bought a new position in shares of Entergy during the third quarter valued at about $178,000. Finally, Segment Wealth Management LLC bought a new position in shares of Entergy during the third quarter valued at about $202,000. 91.31% of the stock is currently owned by institutional investors.
Entergy Company Profile (NYSE:ETR)
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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