Adams Diversified Equity Fund Inc. Sells 35,000 Shares of Entergy Corporation (NYSE:ETR)

Adams Diversified Equity Fund Inc. lessened its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 21.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 128,000 shares of the utilities provider's stock after selling 35,000 shares during the quarter. Adams Diversified Equity Fund Inc.'s holdings in Entergy were worth $10,943,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Acropolis Investment Management LLC lifted its stake in shares of Entergy by 0.7% in the first quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock worth $1,535,000 after acquiring an additional 129 shares during the period. Gen Wealth Partners Inc raised its holdings in Entergy by 27.5% during the 4th quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider's stock worth $51,000 after purchasing an additional 144 shares during the last quarter. NBT Bank N A NY raised its holdings in Entergy by 100.0% during the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock worth $26,000 after purchasing an additional 170 shares during the last quarter. Legacy Investment Solutions LLC lifted its position in shares of Entergy by 85.1% in the 4th quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider's stock worth $31,000 after purchasing an additional 172 shares during the period. Finally, Duncker Streett & Co. Inc. increased its position in shares of Entergy by 100.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock worth $27,000 after buying an additional 179 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Performance

Shares of ETR traded up $0.59 on Thursday, reaching $81.91. 2,281,370 shares of the company's stock traded hands, compared to its average volume of 3,589,738. The stock's 50 day simple moving average is $82.66 and its two-hundred day simple moving average is $81.45. The stock has a market cap of $35.28 billion, a PE ratio of 26.59, a PEG ratio of 2.26 and a beta of 0.59. Entergy Corporation has a 52-week low of $52.07 and a 52-week high of $88.38. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 1.91.

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

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.93%. Entergy's dividend payout ratio (DPR) is presently 77.92%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. KeyCorp raised shares of Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research report on Wednesday, May 14th. UBS Group lifted their price objective on shares of Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a report on Friday, March 21st. Raymond James Financial initiated coverage on shares of Entergy in a report on Friday, June 13th. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. lifted their price target on Entergy from $87.00 to $98.00 and gave the company an "overweight" rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley decreased their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $86.25.

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.