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

FCG Investment Co lessened its holdings in shares of Entergy Co. (NYSE:ETR) by 43.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. 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.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC raised its position in Entergy by 12.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after acquiring an additional 763,834 shares in the last quarter. Ameriprise Financial Inc. raised its position in Entergy by 47.1% during the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after acquiring an additional 2,075,776 shares in the last quarter. Capital International Investors raised its position in Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after acquiring an additional 1,630,057 shares in the last quarter. ClearBridge Investments Ltd raised its position in Entergy by 0.6% during the second quarter. ClearBridge Investments Ltd now owns 3,137,110 shares of the utilities provider’s stock valued at $335,671,000 after acquiring an additional 20,025 shares in the last quarter. Finally, Capital Research Global Investors raised its position in shares of Entergy by 22.5% in the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock valued at $290,963,000 after purchasing an additional 505,705 shares during the period. Institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of Entergy stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares in the company, valued at $4,363,182.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the sale, the insider now owns 5,117 shares in the company, valued at approximately $614,040. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the completion of the sale, the chief operating officer now owns 37,888 shares in the company, valued at $4,363,182.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,810 shares of company stock worth $6,140,626 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Entergy Trading Down 1.5 %

Shares of ETR stock opened at $135.38 on Monday. Entergy Co. has a 1 year low of $90.78 and a 1 year high of $138.24. The firm’s fifty day simple moving average is $127.51 and its 200 day simple moving average is $115.98. The firm has a market capitalization of $28.95 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.62 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 earnings per share for the quarter, topping 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 firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company earned $1.84 earnings per share. As a group, sell-side analysts predict that Entergy Co. will post 7.22 EPS for the current year.

Entergy Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Argus raised shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. BMO Capital Markets lifted their price target on shares of Entergy from $131.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Scotiabank lifted their price target on shares of Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Barclays dropped their price target on shares of Entergy from $138.00 to $137.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and a consensus price target of $131.19.

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.