Stanley Laman Group Ltd. Decreases Stake in Entergy Corporation $ETR

Stanley Laman Group Ltd. cut its stake in shares of Entergy Corporation (NYSE:ETR) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,937 shares of the utilities provider’s stock after selling 7,654 shares during the quarter. Entergy accounts for about 1.2% of Stanley Laman Group Ltd.’s portfolio, making the stock its 5th largest position. Stanley Laman Group Ltd.’s holdings in Entergy were worth $7,808,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Choreo LLC grew its holdings in shares of Entergy by 12.3% during the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock valued at $816,000 after purchasing an additional 1,042 shares during the last quarter. First American Trust FSB bought a new stake in Entergy during the 1st quarter worth approximately $3,896,000. Zurich Insurance Group Ltd FI bought a new stake in Entergy during the 1st quarter worth approximately $32,658,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Entergy by 26.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock worth $8,219,000 after acquiring an additional 19,862 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Entergy by 369.8% during the 1st quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock worth $7,352,000 after acquiring an additional 67,696 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Entergy Stock Down 0.2%

Entergy stock opened at $95.80 on Friday. The company has a market capitalization of $42.77 billion, a PE ratio of 23.86, a PEG ratio of 2.61 and a beta of 0.62. Entergy Corporation has a 12-month low of $66.75 and a 12-month high of $98.58. The firm’s fifty day moving average is $91.02 and its 200 day moving average is $86.10. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR) last issued its earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. The business had revenue of $2.37 billion for the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. As a group, sell-side analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 annualized dividend and a yield of 2.5%. Entergy’s dividend payout ratio is currently 59.85%.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider directly owned 3,318 shares of the company’s stock, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ETR shares. BMO Capital Markets reissued an “outperform” rating and set a $104.00 target price (up from $96.00) on shares of Entergy in a report on Tuesday. Evercore ISI set a $98.00 target price on shares of Entergy and gave the stock an “in-line” rating in a report on Monday, October 6th. Mizuho set a $97.00 target price on shares of Entergy and gave the stock an “outperform” rating in a report on Thursday, July 31st. Scotiabank set a $105.00 price objective on shares of Entergy and gave the company an “outperform” rating in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.57.

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.