Ferguson Wellman Capital Management Inc. Lowers Stock Position in Entergy Co. (NYSE:ETR)

Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of Entergy Co. (NYSE:ETR) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 545,772 shares of the utilities provider’s stock after selling 54,239 shares during the period. Entergy comprises 1.5% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Ferguson Wellman Capital Management Inc. owned approximately 0.26% of Entergy worth $71,829,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Iron Horse Wealth Management LLC purchased a new position in Entergy in the second quarter worth $25,000. Heritage Wealth Advisors lifted its stake in shares of Entergy by 2,172.7% in the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares during the period. American National Bank lifted its stake in shares of Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 134 shares during the period. TruNorth Capital Management LLC purchased a new stake in Entergy during the second quarter worth about $32,000. Finally, Rothschild Investment LLC acquired a new position in Entergy during the second quarter worth about $34,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Trading Up 0.5 %

ETR traded up $0.65 during trading on Friday, hitting $135.28. The company’s stock had a trading volume of 1,017,080 shares, compared to its average volume of 1,560,038. Entergy Co. has a twelve month low of $90.78 and a twelve month high of $135.79. The stock has a market cap of $28.89 billion, a PE ratio of 13.57, a PEG ratio of 2.46 and a beta of 0.74. The firm’s 50 day moving average price is $125.66 and its 200-day moving average price is $114.75. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62.

Entergy (NYSE:ETR) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the firm posted $1.84 earnings per share. On average, analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were issued a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.34%. Entergy’s payout ratio is 45.34%.

Analyst Upgrades and Downgrades

ETR has been the subject of a number of research reports. Guggenheim lifted their price target on shares of Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. BMO Capital Markets lifted their price objective on Entergy from $131.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company boosted their target price on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. UBS Group raised their price target on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, Barclays decreased their price objective on shares of Entergy from $138.00 to $137.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.96.

Insider Activity at Entergy

In other Entergy news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the transaction, the chief operating officer now owns 34,993 shares in the company, valued at $4,549,090. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $122.56, for a total transaction of $398,320.00. Following the completion of the sale, the chief operating officer now owns 34,993 shares of the company’s stock, valued at approximately $4,288,742.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the transaction, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,549,090. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,810 shares of company stock worth $6,140,626. 0.39% of the stock is owned by company insiders.

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.