Entergy Corporation (NYSE:ETR) Shares Sold by Foundry Partners LLC

Foundry Partners LLC decreased its holdings in shares of Entergy Corporation (NYSE:ETR) by 9.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,397 shares of the utilities provider’s stock after selling 543 shares during the quarter. Foundry Partners LLC’s holdings in Entergy were worth $710,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ETR. Fortitude Family Office LLC boosted its stake in Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after buying an additional 178 shares during the last quarter. Cetera Trust Company N.A purchased a new position in shares of Entergy during the 3rd quarter worth $29,000. Iron Horse Wealth Management LLC acquired a new position in shares of Entergy during the 2nd quarter valued at about $25,000. Coastline Trust Co purchased a new stake in shares of Entergy in the third quarter valued at about $31,000. Finally, American National Bank increased its position in Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 134 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Eliecer Viamontes sold 5,166 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $619,920.00. Following the completion of the transaction, the insider now directly owns 5,117 shares of the company’s stock, valued at approximately $614,040. This represents a 50.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Haley Fisackerly sold 4,134 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total value of $616,090.02. Following the sale, the insider now owns 2,016 shares of the company’s stock, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,472 shares of company stock worth $5,076,328. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of Entergy from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $116.00 to $150.00 in a report on Monday, November 4th. BMO Capital Markets lowered their price objective on Entergy from $166.00 to $159.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. UBS Group lifted their target price on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Scotiabank increased their price target on Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Finally, StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.42.

Entergy Price Performance

Entergy stock opened at $151.06 on Friday. Entergy Corporation has a 52-week low of $96.15 and a 52-week high of $156.85. The company’s 50 day moving average is $137.74 and its two-hundred day moving average is $121.50. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The firm has a market cap of $32.39 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.50 and a beta of 0.71.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same quarter last year, the company earned $3.27 EPS. On average, research analysts expect that Entergy Corporation will post 7.21 EPS for the current fiscal year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. This is a boost from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, November 13th. Entergy’s payout ratio is 58.47%.

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.