Procyon Advisors LLC Trims Holdings in Entergy Co. (NYSE:ETR)

Procyon Advisors LLC lessened its holdings in shares of Entergy Co. (NYSE:ETR) by 11.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,043 shares of the utilities provider’s stock after selling 543 shares during the period. Procyon Advisors LLC’s holdings in Entergy were worth $409,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in Entergy by 1.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 38,239 shares of the utilities provider’s stock valued at $3,537,000 after purchasing an additional 467 shares during the period. Alberta Investment Management Corp increased its holdings in Entergy by 73.3% during the 2nd quarter. Alberta Investment Management Corp now owns 27,412 shares of the utilities provider’s stock valued at $2,669,000 after purchasing an additional 11,598 shares during the period. Ferguson Wellman Capital Management Inc. increased its holdings in Entergy by 1.7% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 595,644 shares of the utilities provider’s stock valued at $60,273,000 after purchasing an additional 9,696 shares during the period. Los Angeles Capital Management LLC increased its holdings in Entergy by 464.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 12,044 shares of the utilities provider’s stock valued at $1,114,000 after purchasing an additional 9,910 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Entergy by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 26,038,725 shares of the utilities provider’s stock valued at $2,408,582,000 after purchasing an additional 104,803 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Shares of NYSE ETR opened at $105.68 on Friday. Entergy Co. has a twelve month low of $87.10 and a twelve month high of $111.90. The firm has a market cap of $22.54 billion, a P/E ratio of 9.53, a PEG ratio of 2.07 and a beta of 0.70. The company has a 50 day moving average of $100.85 and a 200 day moving average of $99.13. The company has a quick ratio of 0.32, a current ratio of 0.57 and a debt-to-equity ratio of 1.57.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $3.27 billion. Entergy had a net margin of 19.41% and a return on equity of 10.54%. During the same period in the previous year, the business earned $0.51 EPS. As a group, research analysts expect that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a $1.13 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $4.52 annualized dividend and a dividend yield of 4.28%. Entergy’s dividend payout ratio (DPR) is 40.76%.

Insider Transactions at Entergy

In other news, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the sale, the executive vice president now directly owns 9,911 shares in the company, valued at approximately $1,019,247.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Entergy news, EVP Kimberly Cook-Nelson sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the transaction, the executive vice president now owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marcus V. Brown sold 8,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $102.84, for a total transaction of $874,140.00. Following the transaction, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $1,226,685 in the last three months. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $117.00 price objective on shares of Entergy in a research report on Monday, February 26th. Barclays lifted their price objective on Entergy from $105.00 to $108.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. lifted their price objective on Entergy from $117.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, December 1st. Finally, BMO Capital Markets lifted their price objective on Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and a consensus target price of $111.09.

Entergy 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.