Entergy Co. (NYSE:ETR) Holdings Decreased by Federated Hermes Inc.

Federated Hermes Inc. reduced its holdings in Entergy Co. (NYSE:ETR) by 2.5% in the 2nd quarter, Holdings Channel reports. The fund owned 2,785,771 shares of the utilities provider’s stock after selling 71,792 shares during the period. Entergy makes up about 0.7% of Federated Hermes Inc.’s portfolio, making the stock its 27th biggest position. Federated Hermes Inc.’s holdings in Entergy were worth $298,077,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its stake in shares of Entergy by 6.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock worth $25,275,000 after acquiring an additional 13,882 shares during the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Entergy by 11.1% during the 4th quarter. Cetera Advisor Networks LLC now owns 55,261 shares of the utilities provider’s stock worth $5,592,000 after purchasing an additional 5,509 shares in the last quarter. Norges Bank acquired a new stake in shares of Entergy during the 4th quarter valued at about $127,675,000. Groupama Asset Managment bought a new stake in shares of Entergy in the 4th quarter valued at approximately $15,783,000. Finally, Acadian Asset Management LLC increased its holdings in Entergy by 55.4% in the first quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock worth $1,571,000 after buying an additional 5,303 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Trading Up 1.1 %

Shares of Entergy stock opened at $123.57 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The company has a market cap of $26.42 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 2.31 and a beta of 0.73. The company’s fifty day simple moving average is $115.89 and its 200-day simple moving average is $109.66. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $123.73.

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

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s dividend payout ratio is presently 45.34%.

Insider Activity

In related news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now directly owns 37,888 shares in the company, valued at $4,363,182.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,307,787.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,888 shares of company stock worth $5,110,766. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $109.50 target price (down from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Morgan Stanley lifted their price objective on shares of Entergy from $100.00 to $109.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Mizuho raised their target price on Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, May 31st. Guggenheim upped their price target on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Bank of America boosted their target price on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and an average price target of $123.04.

About Entergy

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.