Entergy Corporation (NYSE:ETR) Holdings Trimmed by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel has reduced its holdings in Entergy Corporation by 44.7%, bringing their ownership down to 7,493 shares valued at approximately $595,000.
• Entergy's quarterly earnings exceeded analyst expectations, reporting $0.82 earnings per share against a consensus estimate of $0.60, although revenue fell short at $3.02 billion.
• The company announced a quarterly dividend of $0.60 per share, representing an annual yield of 2.72%, with a payout ratio of 77.92%.

Carnegie Investment Counsel reduced its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 44.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,493 shares of the utilities provider's stock after selling 6,057 shares during the period. Carnegie Investment Counsel's holdings in Entergy were worth $595,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETR. Glen Eagle Advisors LLC boosted its stake in shares of Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after acquiring an additional 180 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Entergy during the first quarter valued at $28,000. Glass Jacobson Investment Advisors llc acquired a new position in shares of Entergy in the 4th quarter valued at $29,000. MV Capital Management Inc. increased its stake in Entergy by 103.6% in the 4th quarter. MV Capital Management Inc. now owns 399 shares of the utilities provider's stock worth $30,000 after purchasing an additional 203 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in Entergy in the 4th quarter worth about $30,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Trading Up 0.1%

Shares of NYSE ETR opened at $88.20 on Friday. The stock has a market cap of $37.99 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 2.40 and a beta of 0.59. The business has a 50 day simple moving average of $82.94 and a 200 day simple moving average of $82.80. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.55 and a current ratio of 0.82. Entergy Corporation has a 52 week low of $56.00 and a 52 week high of $89.35.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.22. Entergy had a net margin of 11.26% and a return on equity of 11.43%. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the prior year, the company posted $0.54 earnings per share. On average, research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.72%. Entergy's payout ratio is currently 77.92%.

Wall Street Analyst Weigh In

Several brokerages have commented on ETR. BMO Capital Markets raised their target price on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Raymond James Financial started coverage on shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. Morgan Stanley lowered their price objective on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. KeyCorp raised their target price on Entergy from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Barclays lowered their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $86.46.

Entergy Company 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.

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