New York Life Investment Management LLC Sells 224 Shares of Entergy Co. (NYSE:ETR)

New York Life Investment Management LLC trimmed its stake in shares of Entergy Co. (NYSE:ETR) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,997 shares of the utilities provider’s stock after selling 224 shares during the period. New York Life Investment Management LLC’s holdings in Entergy were worth $3,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Entergy by 157.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 165 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new position in Entergy in the third quarter worth approximately $32,000. Fortis Group Advisors LLC purchased a new position in shares of Entergy during the 3rd quarter worth $32,000. CVA Family Office LLC bought a new stake in shares of Entergy during the 4th quarter valued at $41,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Entergy in the 3rd quarter worth $43,000. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Scotiabank lowered their target price on Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets boosted their price objective on Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Barclays reduced their target price on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $117.00 price target on shares of Entergy in a report on Monday, February 26th. Finally, KeyCorp increased their price objective on shares of Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.45.

Entergy Price Performance

Shares of NYSE:ETR opened at $108.08 on Monday. The firm has a market cap of $23.08 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 2.01 and a beta of 0.69. The firm has a fifty day moving average price of $104.02 and a 200 day moving average price of $101.21. Entergy Co. has a fifty-two week low of $87.10 and a fifty-two week high of $108.45. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69.

Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a net margin of 17.75% and a return on equity of 10.20%. The company had revenue of $31.17 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the company earned $1.14 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Wednesday, May 1st. Entergy’s payout ratio is 45.34%.

Insider Transactions at Entergy

In related news, insider Deanna D. Rodriguez sold 1,500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $101.23, for a total value of $151,845.00. Following the sale, the insider now owns 3,442 shares in the company, valued at $348,433.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Deanna D. Rodriguez sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total value of $151,845.00. Following the sale, the insider now directly owns 3,442 shares in the company, valued at $348,433.66. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $1,226,685 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.