Beverly Hills Private Wealth LLC Decreases Position in Entergy Co. (NYSE:ETR)

Beverly Hills Private Wealth LLC trimmed its holdings in shares of Entergy Co. (NYSE:ETR) by 8.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tidemark LLC purchased a new stake in Entergy during the 4th quarter valued at about $25,000. Iron Horse Wealth Management LLC purchased a new stake in shares of Entergy during the second quarter valued at approximately $25,000. Heritage Wealth Advisors increased its stake in shares of Entergy by 2,172.7% in the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares during the period. American National Bank increased its position in shares of Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 134 shares during the period. Finally, TruNorth Capital Management LLC bought a new stake in shares of Entergy in the second quarter worth about $32,000. 88.07% of the stock is owned by institutional investors.

Entergy Trading Up 2.9 %

Entergy stock opened at $127.09 on Friday. The business has a 50-day simple moving average of $116.32 and a two-hundred day simple moving average of $109.85. Entergy Co. has a 52-week low of $87.10 and a 52-week high of $127.34. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The company 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 (NYSE:ETR) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same period in the prior year, the company earned $1.84 earnings per share. Analysts predict that Entergy Co. will post 7.22 EPS for the current year.

Entergy Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Argus upgraded shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. BMO Capital Markets lifted their price target on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Mizuho raised their target price on shares of Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Morgan Stanley boosted their price target on Entergy from $100.00 to $109.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Finally, Barclays lowered their price objective on Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.04.

Insider Activity

In other news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the transaction, the insider now directly owns 5,117 shares in the company, valued at $614,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Entergy news, CEO Andrew S. Marsh sold 19,200 shares of the business’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 sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,140,475.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eliecer Viamontes sold 5,166 shares of Entergy stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the sale, the insider now directly owns 5,117 shares in the company, valued at $614,040. The disclosure for this sale can be found here. Insiders have sold a total of 42,888 shares of company stock valued at $5,110,766 in the last ninety days. Corporate insiders own 0.39% of the company’s stock.

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.