Balyasny Asset Management L.P. Decreases Stock Holdings in Entergy Co. (NYSE:ETR)

Balyasny Asset Management L.P. lowered its stake in Entergy Co. (NYSE:ETRFree Report) by 37.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 768,308 shares of the utilities provider’s stock after selling 462,559 shares during the quarter. Balyasny Asset Management L.P. owned 0.36% of Entergy worth $77,745,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. CWM LLC lifted its position in shares of Entergy by 15.6% in the fourth quarter. CWM LLC now owns 14,747 shares of the utilities provider’s stock valued at $1,492,000 after acquiring an additional 1,989 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake 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 worth $60,273,000 after purchasing an additional 9,696 shares during the last quarter. Financial Counselors Inc. grew its holdings in shares of Entergy by 28.9% during the fourth quarter. Financial Counselors Inc. now owns 159,395 shares of the utilities provider’s stock worth $16,129,000 after buying an additional 35,718 shares in the last quarter. Brendel Financial Advisors LLC purchased a new stake in shares of Entergy during the fourth quarter worth $1,782,000. Finally, Cetera Advisor Networks LLC raised its position in shares of Entergy by 11.1% in the fourth quarter. Cetera Advisor Networks LLC now owns 55,261 shares of the utilities provider’s stock valued at $5,592,000 after buying an additional 5,509 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Trading Down 0.4 %

NYSE ETR opened at $108.06 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45. The stock has a market capitalization of $23.08 billion, a P/E ratio of 10.84, a PEG ratio of 2.05 and a beta of 0.73. The firm’s 50-day moving average is $108.16 and its two-hundred day moving average is $103.81. Entergy Co. has a 12 month low of $87.10 and a 12 month high of $114.28.

Entergy (NYSE:ETRGet Free Report) last issued 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 return on equity of 10.20% and a net margin of 17.75%. The company had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that Entergy Co. will post 7.23 earnings per share for the current year.

Entergy Announces Dividend

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

Analysts Set New Price Targets

ETR has been the subject of several research reports. Mizuho upped their price objective 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 upped their price target on Entergy from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. BMO Capital Markets lifted their price objective on Entergy from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. Barclays upped their target price on Entergy from $107.00 to $116.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Finally, Scotiabank reduced their price target on Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.50.

Get Our Latest Analysis on Entergy

Insider Activity at Entergy

In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the sale, the chief accounting officer now directly owns 2,166 shares in the company, valued at approximately $235,465.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Deanna D. Rodriguez sold 1,500 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total transaction of $151,845.00. Following the completion of the transaction, the insider now owns 3,442 shares of the company’s stock, valued at approximately $348,433.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,729 shares of company stock worth $2,194,615. 0.54% of the stock is currently owned by company insiders.

About Entergy

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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