Concord Wealth Partners Decreases Position in Entergy Co. (NYSE:ETR)

Concord Wealth Partners lowered its stake in Entergy Co. (NYSE:ETR) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,502 shares of the utilities provider’s stock after selling 204 shares during the period. Concord Wealth Partners’ holdings in Entergy were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in Entergy by 157.1% in the third quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 165 shares in the last quarter. Fortis Group Advisors LLC acquired a new position in shares of Entergy during the 3rd quarter worth about $32,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Entergy in the 3rd quarter valued at about $32,000. CVA Family Office LLC acquired a new stake in shares of Entergy during the 4th quarter worth about $41,000. Finally, Millburn Ridgefield Corp purchased a new stake in Entergy during the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

Entergy Stock Up 1.3 %

Entergy stock opened at $106.98 on Thursday. The stock has a 50 day moving average of $103.80 and a two-hundred day moving average of $100.99. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.98 and a beta of 0.69. Entergy Co. has a twelve month low of $87.10 and a twelve month high of $108.45. The company has a current ratio of 0.69, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (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 firm had revenue of $31.17 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business earned $1.14 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is 45.34%.

Insider Activity

In other news, EVP Kimberly Cook-Nelson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 directly owns 16,037 shares in the company, valued at $1,609,312.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Entergy news, insider Deanna D. Rodriguez sold 1,500 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the transaction, the insider now owns 3,442 shares of the company’s stock, valued at approximately $348,433.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the sale, the executive vice president now directly owns 16,037 shares of the company’s stock, valued at $1,609,312.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,000 shares of company stock valued at $1,226,685. 0.39% of the stock is currently owned by company insiders.

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.