First County Bank CT Sells 994 Shares of Entergy Corporation (NYSE:ETR)

First County Bank CT decreased its stake in shares of Entergy Corporation (NYSE:ETR) by 15.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,480 shares of the utilities provider’s stock after selling 994 shares during the quarter. First County Bank CT’s holdings in Entergy were worth $721,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC raised its holdings in shares of Entergy by 21.7% in the 1st quarter. Quent Capital LLC now owns 550 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 98 shares during the period. Blair William & Co. IL lifted its holdings in Entergy by 37.7% during the 1st quarter. Blair William & Co. IL now owns 4,183 shares of the utilities provider’s stock valued at $442,000 after purchasing an additional 1,146 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Entergy by 55.4% during the 1st quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock worth $1,571,000 after buying an additional 5,303 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Entergy during the first quarter worth approximately $291,000. Finally, Bessemer Group Inc. boosted its stake in Entergy by 15.9% in the 1st quarter. Bessemer Group Inc. now owns 3,082 shares of the utilities provider’s stock valued at $325,000 after purchasing an additional 423 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. Guggenheim raised their target price on Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $116.00 to $150.00 in a research note on Monday, November 4th. Finally, Mizuho lifted their price target on shares of Entergy from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus target price of $150.42.

Entergy Stock Up 0.8 %

Shares of NYSE:ETR opened at $151.93 on Friday. The business has a fifty day simple moving average of $137.26 and a 200 day simple moving average of $121.21. Entergy Corporation has a 12-month low of $96.15 and a 12-month high of $156.85. The firm has a market cap of $32.57 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.50 and a beta of 0.71. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77.

Entergy (NYSE:ETR) last released its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same quarter in the prior year, the firm posted $3.27 EPS. Analysts predict that Entergy Corporation will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This is an increase from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Wednesday, November 13th. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

Insider Buying and Selling

In other Entergy news, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the transaction, the insider now directly owns 5,117 shares of the company’s stock, valued at approximately $614,040. This trade represents a 50.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 4,134 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total transaction of $616,090.02. Following the completion of the sale, the insider now owns 2,016 shares in the company, valued at $300,444.48. This represents a 67.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,472 shares of company stock valued at $5,076,328 over the last 90 days. Company insiders own 0.39% of the company’s stock.

About Entergy

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.