Wells Fargo & Company MN Trims Stock Position in Entergy Co. (NYSE:ETR)

Wells Fargo & Company MN lowered its position in shares of Entergy Co. (NYSE:ETR) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 810,433 shares of the utilities provider’s stock after selling 73,048 shares during the period. Wells Fargo & Company MN owned about 0.38% of Entergy worth $82,008,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Entergy in the third quarter valued at $32,000. Fortis Group Advisors LLC purchased a new stake in shares of Entergy in the third quarter valued at about $32,000. CVA Family Office LLC acquired a new stake in shares of Entergy during the fourth quarter worth about $41,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Entergy during the third quarter worth about $43,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented 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 note on Monday, February 26th. Barclays decreased their price target on Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. KeyCorp boosted their price objective on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday. BMO Capital Markets raised their target price on shares of Entergy from $110.00 to $113.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Finally, Scotiabank dropped their price target on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.45.

Entergy Stock Down 2.9 %

ETR stock opened at $109.38 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. The company’s 50-day moving average price is $106.77 and its 200 day moving average price is $102.81. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $114.28. The company has a market cap of $23.36 billion, a P/E ratio of 10.97, a P/E/G ratio of 2.13 and a beta of 0.69.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The company had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. Entergy had a net margin of 17.75% and a return on equity of 10.20%. Entergy’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 earnings per share. On average, research analysts expect that Entergy Co. will post 7.23 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Wednesday, May 1st. Entergy’s dividend payout ratio is currently 45.34%.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the sale, the insider now owns 2,479 shares of the company’s stock, valued at $273,260.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the sale, the insider now directly owns 2,479 shares in the company, valued at $273,260.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the business’s 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 directly owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The disclosure for this sale can be found here. Insiders sold 22,729 shares of company stock valued at $2,395,315 in the last 90 days. 0.39% of the stock is currently owned by insiders.

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.