Greenwood Gearhart Inc. Cuts Stake in Entergy Corporation $ETR

Key Points

• Greenwood Gearhart Inc. reduced its stake in Entergy Corporation by 24.7%, selling 8,165 shares during the second quarter, with remaining holdings valued at approximately $2.06 million.
• Entergy announced a quarterly dividend of $0.60 per share, reflecting a 2.5% yield and a payout ratio of 59.85%.
• Analyst ratings for Entergy are generally positive, with a consensus rating of "Moderate Buy" and average price target of $93.00 following recent ratings updates from several firms.

Greenwood Gearhart Inc. reduced its stake in Entergy Corporation (NYSE:ETR - Free Report) by 24.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,849 shares of the utilities provider's stock after selling 8,165 shares during the period. Greenwood Gearhart Inc.'s holdings in Entergy were worth $2,065,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Wealthstar Advisors LLC grew its stake in shares of Entergy by 6.1% in the second quarter. Wealthstar Advisors LLC now owns 8,630 shares of the utilities provider's stock worth $717,000 after acquiring an additional 493 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Entergy by 22.0% in the second quarter. IFP Advisors Inc now owns 35,086 shares of the utilities provider's stock worth $2,928,000 after acquiring an additional 6,327 shares during the last quarter. Callan Family Office LLC boosted its position in shares of Entergy by 179.0% during the second quarter. Callan Family Office LLC now owns 18,392 shares of the utilities provider's stock valued at $1,529,000 after buying an additional 11,800 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Entergy by 6.2% during the second quarter. Blair William & Co. IL now owns 23,041 shares of the utilities provider's stock valued at $1,915,000 after buying an additional 1,355 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Entergy during the second quarter valued at $842,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays set a $100.00 price objective on Entergy and gave the company an "overweight" rating in a research report on Monday. Mizuho set a $97.00 price objective on Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. Morgan Stanley dropped their price objective on Entergy from $86.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Finally, Jefferies Financial Group assumed coverage on Entergy in a research report on Thursday, September 4th. They set a "buy" rating and a $109.00 price objective on the stock. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $93.00.

Entergy Stock Down 0.4%

NYSE ETR opened at $95.19 on Friday. The stock's 50-day moving average price is $90.45 and its 200-day moving average price is $85.70. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 52 week low of $64.72 and a 52 week high of $98.58. The company has a market capitalization of $42.49 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.60 and a beta of 0.62.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The firm had revenue of $2.37 billion for the quarter. Entergy had a return on equity of 11.52% and a net margin of 14.35%. On average, equities research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is currently 59.85%.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction that occurred 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 transaction, the insider owned 3,318 shares in the company, valued at approximately $300,279. The trade was a 57.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.

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