FCG Investment Co Sells 4,305 Shares of Entergy Co. (NYSE:ETR)

FCG Investment Co trimmed its holdings in Entergy Co. (NYSE:ETR) by 43.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,681 shares of the utilities provider’s stock after selling 4,305 shares during the quarter. FCG Investment Co’s holdings in Entergy were worth $748,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ETR. Founders Financial Securities LLC bought a new position in shares of Entergy in the first quarter valued at about $206,000. LVW Advisors LLC raised its holdings in shares of Entergy by 22.7% in the first quarter. LVW Advisors LLC now owns 2,425 shares of the utilities provider’s stock valued at $256,000 after buying an additional 448 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Entergy by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 511,645 shares of the utilities provider’s stock valued at $54,071,000 after buying an additional 1,992 shares during the last quarter. Norden Group LLC bought a new stake in Entergy during the 1st quarter worth about $3,298,000. Finally, Leeward Investments LLC MA raised its holdings in Entergy by 4.0% during the 1st quarter. Leeward Investments LLC MA now owns 129,619 shares of the utilities provider’s stock worth $13,698,000 after purchasing an additional 4,973 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ETR has been the subject of several recent research reports. Bank of America boosted their price objective on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays dropped their price objective on Entergy from $138.00 to $137.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Scotiabank boosted their price objective on Entergy from $115.00 to $119.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Guggenheim boosted their price objective on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.19.

Insider Transactions at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the sale, the chief operating officer now owns 34,993 shares of the company’s stock, valued at approximately $4,549,090. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the transaction, the chief operating officer now directly owns 34,993 shares in the company, valued at approximately $4,549,090. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,810 shares of company stock worth $6,140,626. 0.39% of the stock is owned by company insiders.

Entergy Price Performance

Shares of ETR opened at $135.38 on Monday. Entergy Co. has a 52-week low of $90.78 and a 52-week high of $138.24. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. The business’s 50 day moving average price is $127.51 and its two-hundred day moving average price is $115.98. The firm has a market cap of $28.95 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74.

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

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be paid a dividend of $1.20 per share. This is an increase from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 3.55%. Entergy’s dividend payout ratio is presently 54.07%.

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.