Sienna Gestion Sells 6,562 Shares of Entergy Corporation $ETR

Key Points

• Sienna Gestion decreased its stake in Entergy Corporation by 5.6%, owning 111,120 shares valued at approximately $9.23 million after the reduction.
• Entergy reported $1.05 earnings per share for the latest quarter, exceeding analysts' expectations of $0.91, despite a revenue of $3.02 billion, which fell short of the $3.11 billion forecasted.
• The company announced a quarterly dividend of $0.60, yielding 2.6% annually, with the payment set for September 2nd to shareholders recorded by August 13th.

Sienna Gestion reduced its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,120 shares of the utilities provider's stock after selling 6,562 shares during the quarter. Sienna Gestion's holdings in Entergy were worth $9,234,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ETR. Bank of America Corp DE boosted its position in shares of Entergy by 142.8% during the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after purchasing an additional 10,347,926 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after purchasing an additional 5,368,396 shares in the last quarter. Capital International Investors boosted its position in shares of Entergy by 103.6% during the fourth quarter. Capital International Investors now owns 7,773,654 shares of the utilities provider's stock valued at $589,389,000 after purchasing an additional 3,956,122 shares in the last quarter. Millennium Management LLC boosted its position in shares of Entergy by 474.0% during the fourth quarter. Millennium Management LLC now owns 3,876,985 shares of the utilities provider's stock valued at $293,953,000 after purchasing an additional 3,201,530 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Entergy by 964.8% during the first quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider's stock valued at $261,232,000 after purchasing an additional 2,768,734 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Performance

Shares of ETR traded down $1.20 during trading hours on Monday, hitting $87.92. The stock had a trading volume of 1,915,087 shares, compared to its average volume of 3,563,941. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. Entergy Corporation has a 12 month low of $58.79 and a 12 month high of $92.40. The firm has a market capitalization of $39.25 billion, a PE ratio of 21.90, a PEG ratio of 2.42 and a beta of 0.57. The stock has a fifty day moving average price of $85.15 and a 200 day moving average price of $83.87.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.91 by $0.14. Entergy had a return on equity of 11.52% and a net margin of 14.35%. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. Analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. Entergy's payout ratio is presently 59.85%.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the sale, the insider owned 3,318 shares of the company's stock, valued at $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ETR shares. BMO Capital Markets lifted their price target on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Barclays dropped their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Mizuho set a $97.00 price objective on Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Raymond James Financial started coverage on Entergy in a research note on Friday, June 13th. They set a "market perform" rating for the company. Finally, KeyCorp reiterated an "overweight" rating and set a $96.00 price objective (up previously from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Six investment 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.07.

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.