Beverly Hills Private Wealth LLC Trims Stake in Entergy Co. (NYSE:ETR)

Beverly Hills Private Wealth LLC lessened its holdings in shares of Entergy Co. (NYSE:ETR) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,327 shares of the utilities provider’s stock after selling 206 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Entergy were worth $249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETR. Y.D. More Investments Ltd purchased a new stake in Entergy in the second quarter worth $107,000. Jupiter Asset Management Ltd. increased its stake in Entergy by 49.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 21,903 shares of the utilities provider’s stock worth $2,344,000 after buying an additional 7,247 shares during the period. LPL Financial LLC boosted its position in Entergy by 9.9% in the 2nd quarter. LPL Financial LLC now owns 430,896 shares of the utilities provider’s stock valued at $46,106,000 after buying an additional 38,856 shares during the period. Vaughan David Investments LLC IL grew its stake in Entergy by 2.1% in the 2nd quarter. Vaughan David Investments LLC IL now owns 377,007 shares of the utilities provider’s stock worth $40,340,000 after acquiring an additional 7,837 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Entergy during the second quarter worth approximately $623,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Price Performance

Shares of NYSE ETR opened at $127.09 on Friday. The firm has a market cap of $27.18 billion, a P/E ratio of 12.75, a P/E/G ratio of 2.31 and a beta of 0.73. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $127.34. The business’s 50 day moving average price is $116.32 and its 200 day moving average price is $109.85. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the company earned $1.84 earnings per share. On average, sell-side analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were issued a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.56%. Entergy’s payout ratio is 45.34%.

Insider Activity

In other news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $122.56, for a total transaction of $398,320.00. Following the transaction, the chief operating officer now owns 34,993 shares in the company, valued at approximately $4,288,742.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $122.56, for a total transaction of $398,320.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,288,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew S. Marsh sold 19,200 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.35, for a total value of $2,310,720.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,140,475.85. The disclosure for this sale can be found here. Insiders have sold 42,888 shares of company stock worth $5,110,766 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ETR shares. Bank of America increased their price objective on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Morgan Stanley upped their price objective on shares of Entergy from $100.00 to $109.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $109.50 price objective (down from $117.00) on shares of Entergy in a report on Wednesday, June 12th. Finally, Wells Fargo & Company lifted their target price on Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and an average price target of $123.04.

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.