Insider Selling: Entergy Co. (NYSE:ETR) COO Sells $1,029,860.00 in Stock

by · The Markets Daily

Entergy Co. (NYSE:ETR – Get Free Report) COO Peter S. Norgeot, Jr. sold 7,922 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now owns 34,993 shares of the company’s stock, valued at $4,549,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Entergy Stock Down 0.1 %

Shares of NYSE:ETR opened at $129.58 on Friday. The firm has a market cap of $27.67 billion, a P/E ratio of 13.00, a P/E/G ratio of 2.46 and a beta of 0.73. Entergy Co. has a 12-month low of $87.10 and a 12-month high of $131.03. The business has a fifty day simple moving average of $119.80 and a 200 day simple moving average of $111.44. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period last year, the company earned $1.84 earnings per share. Analysts predict that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s dividend payout ratio is presently 45.34%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America boosted their price target on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. KeyCorp boosted their target price on Entergy from $123.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. raised their price target on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Scotiabank upped their price objective on shares of Entergy from $115.00 to $119.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.81.

Get Our Latest Analysis on Entergy

Hedge Funds Weigh In On Entergy

Several hedge funds and other institutional investors have recently bought and sold shares of ETR. Quest Partners LLC acquired a new position in shares of Entergy in the 4th quarter valued at about $125,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Entergy by 4.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 27,145 shares of the utilities provider’s stock worth $2,747,000 after buying an additional 1,124 shares in the last quarter. US Bancorp DE grew its position in shares of Entergy by 5.9% during the 4th quarter. US Bancorp DE now owns 25,343 shares of the utilities provider’s stock worth $2,565,000 after buying an additional 1,405 shares during the period. Commerce Bank increased its stake in shares of Entergy by 1.8% in the 4th quarter. Commerce Bank now owns 13,102 shares of the utilities provider’s stock valued at $1,326,000 after acquiring an additional 228 shares in the last quarter. Finally, SageView Advisory Group LLC lifted its position in shares of Entergy by 5.7% during the 4th quarter. SageView Advisory Group LLC now owns 7,575 shares of the utilities provider’s stock valued at $759,000 after acquiring an additional 406 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

About Entergy

(Get 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.

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