Townsquare Capital LLC Sells 58,584 Shares of Entergy Corporation (NYSE:ETR)

Key Points

• Townsquare Capital LLC reduced its stake in Entergy Corporation by 44.8%, selling 58,584 shares and holding 72,315 shares valued at approximately $6.18 million at the end of the period.
• Entergy reported quarterly earnings of $1.05 EPS, exceeding analyst expectations, but with revenue of $3.02 billion falling short of the forecasted $3.11 billion.
• Entergy declared a quarterly dividend of $0.60 per share, yielding 2.7%, with the ex-dividend date set for August 13th.

Townsquare Capital LLC decreased its position in Entergy Corporation (NYSE:ETR - Free Report) by 44.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,315 shares of the utilities provider's stock after selling 58,584 shares during the period. Townsquare Capital LLC's holdings in Entergy were worth $6,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Glen Eagle Advisors LLC grew its position 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 buying an additional 180 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Entergy during the 1st quarter worth approximately $28,000. Glass Jacobson Investment Advisors llc acquired a new position in Entergy during the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new stake in Entergy in the fourth quarter valued at approximately $30,000. Finally, Grove Bank & Trust raised its holdings in 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 period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Price Performance

Entergy stock opened at $90.44 on Friday. The firm has a market cap of $40.37 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57. Entergy Corporation has a one year low of $57.65 and a one year high of $92.40. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The stock's fifty day moving average price is $84.36 and its two-hundred day moving average price is $83.49.

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

Entergy Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ETR shares. JPMorgan Chase & Co. boosted their price target on shares of Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Barclays cut their price objective on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Mizuho set a $97.00 price objective on Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. 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. Finally, Raymond James Financial initiated coverage on shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $88.07.

Insider Activity

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