Kayne Anderson Capital Advisors LP Sells 56,648 Shares of Entergy Corporation $ETR

Kayne Anderson Capital Advisors LP lessened its holdings in Entergy Corporation (NYSE:ETR) by 8.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 593,705 shares of the utilities provider’s stock after selling 56,648 shares during the period. Entergy comprises 1.1% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 18th biggest holding. Kayne Anderson Capital Advisors LP owned approximately 0.13% of Entergy worth $49,349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sienna Gestion grew its position in Entergy by 10.0% in the second quarter. Sienna Gestion now owns 122,219 shares of the utilities provider’s stock valued at $9,275,000 after acquiring an additional 11,099 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in Entergy by 7.3% in the second quarter. Resona Asset Management Co. Ltd. now owns 143,083 shares of the utilities provider’s stock valued at $11,879,000 after acquiring an additional 9,787 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in Entergy in the second quarter valued at about $30,000. TKG Advisors LLC bought a new position in Entergy in the second quarter valued at about $5,161,000. Finally, Code Waechter LLC grew its position in Entergy by 22.2% in the second quarter. Code Waechter LLC now owns 4,154 shares of the utilities provider’s stock valued at $345,000 after acquiring an additional 754 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling

In other news, insider Haley Fisackerly sold 5,136 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total transaction of $495,624.00. Following the transaction, the insider directly owned 7,899 shares of the company’s stock, valued at $762,253.50. This represents a 39.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anastasia Minor sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total value of $481,950.00. Following the transaction, the insider directly owned 10,122 shares in the company, valued at $975,659.58. The trade was a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,324 shares of company stock worth $994,902 over the last ninety days. 0.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of recent analyst reports. Evercore ISI lifted their target price on Entergy from $98.00 to $101.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Royal Bank Of Canada upgraded Entergy to a “moderate buy” rating in a report on Tuesday, October 28th. Jefferies Financial Group initiated coverage on Entergy in a report on Thursday, September 4th. They set a “buy” rating and a $109.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Entergy in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Entergy has an average rating of “Moderate Buy” and an average price target of $102.37.

Entergy Price Performance

Entergy stock opened at $96.28 on Thursday. The stock’s 50 day moving average is $92.73 and its 200 day moving average is $87.48. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.52. The firm has a market cap of $43.00 billion, a P/E ratio of 23.77, a P/E/G ratio of 2.40 and a beta of 0.63. Entergy Corporation has a one year low of $72.17 and a one year high of $98.58.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%.The firm had revenue of $2.37 billion for the quarter. As a group, research analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $0.60. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.7%. Entergy’s payout ratio is currently 63.21%.

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.