Forsta AP Fonden Lowers Stock Position in Entergy Corporation (NYSE:ETR)

Key Points

• Forsta AP Fonden reduced its stake in Entergy Corporation by 57.4%, leaving it with 74,700 shares valued at approximately $6.39 million.
• A number of hedge funds recently made adjustments to their holdings in Entergy, with institutional investors owning 88.07% of the stock.
• Entergy recently announced a quarterly dividend of $0.60 per share, representing a yield of 2.7%, with the ex-dividend date set for August 13.

Forsta AP Fonden trimmed its stake in Entergy Corporation (NYSE:ETR - Free Report) by 57.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,700 shares of the utilities provider's stock after selling 100,800 shares during the period. Forsta AP Fonden's holdings in Entergy were worth $6,386,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Glen Eagle Advisors LLC increased its position in shares of Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Entergy in the first quarter worth approximately $28,000. Glass Jacobson Investment Advisors llc bought a new position in shares of Entergy in the fourth quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of Entergy in the fourth quarter worth approximately $30,000. Finally, Grove Bank & Trust increased its position in shares of Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock worth $30,000 after purchasing an additional 230 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ETR shares. Morgan Stanley cut their target price on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Mizuho set a $97.00 price objective on Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Barclays decreased their target price on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. BMO Capital Markets upped their target price on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.07.

Entergy Stock Performance

Shares of Entergy stock traded down $0.78 during trading on Friday, hitting $89.51. 787,125 shares of the company's stock traded hands, compared to its average volume of 3,552,870. 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 1 year low of $58.46 and a 1 year high of $92.40. The stock has a market capitalization of $39.96 billion, a P/E ratio of 22.29, a PEG ratio of 2.48 and a beta of 0.57. The business has a 50-day simple moving average of $85.01 and a 200-day simple moving average of $83.74.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.14. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%. During the same period last year, the firm posted $1.92 earnings per share. As a group, analysts forecast that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The company 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 $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is presently 59.85%.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

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.