Moors & Cabot Inc. Lowers Stock Holdings in Entergy Corporation $ETR

Moors & Cabot Inc. reduced its holdings in Entergy Corporation (NYSE:ETR) by 20.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,177 shares of the utilities provider’s stock after selling 796 shares during the quarter. Moors & Cabot Inc.’s holdings in Entergy were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ETR. Mesirow Financial Investment Management Inc. grew its holdings in Entergy by 3.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,864 shares of the utilities provider’s stock valued at $321,000 after buying an additional 116 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Entergy by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 41,397 shares of the utilities provider’s stock worth $3,377,000 after acquiring an additional 118 shares during the last quarter. My Legacy Advisors LLC grew its holdings in Entergy by 0.8% in the second quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider’s stock valued at $1,361,000 after purchasing an additional 128 shares during the period. New Hampshire Trust increased its position in Entergy by 3.6% during the second quarter. New Hampshire Trust now owns 4,103 shares of the utilities provider’s stock worth $341,000 after purchasing an additional 141 shares during the last quarter. Finally, Mattson Financial Services LLC raised its stake in Entergy by 100.0% during the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 150 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETR has been the subject of several research reports. Bank of America boosted their price objective on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Royal Bank Of Canada upgraded Entergy to a “moderate buy” rating in a report on Tuesday, October 28th. Scotiabank set a $105.00 price target on Entergy and gave the company an “outperform” rating in a research report on Friday, October 3rd. Barclays set a $100.00 price objective on Entergy and gave the stock an “overweight” rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.37.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 5,136 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total transaction of $495,624.00. Following the completion of the sale, the insider owned 7,899 shares in the company, valued at $762,253.50. This trade represents a 39.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anastasia Minor sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the completion of the transaction, the insider directly owned 10,122 shares in the company, valued at approximately $975,659.58. The trade was a 33.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,324 shares of company stock valued at $994,902 in the last three months. 0.39% of the stock is currently owned by company insiders.

Entergy Stock Performance

Shares of NYSE:ETR opened at $97.12 on Monday. The company has a market cap of $43.37 billion, a P/E ratio of 23.98, a PEG ratio of 2.40 and a beta of 0.63. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71. Entergy Corporation has a one year low of $72.64 and a one year high of $98.58. The business’s 50-day simple moving average is $93.06 and its 200 day simple moving average is $87.71.

Entergy (NYSE:ETR) last posted its earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. The business had revenue of $2.37 billion for the quarter. On average, sell-side analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.6%. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, November 13th. Entergy’s payout ratio is presently 63.21%.

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.