Amalgamated Bank Trims Stake in Entergy Co. (NYSE:ETR)

Amalgamated Bank reduced its position in Entergy Co. (NYSE:ETR) by 28.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,948 shares of the utilities provider’s stock after selling 16,969 shares during the quarter. Amalgamated Bank’s holdings in Entergy were worth $5,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETR. Bank & Trust Co raised its position in Entergy by 12.8% during the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 90 shares during the last quarter. Prossimo Advisors LLC raised its position in Entergy by 1.5% during the 3rd quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after purchasing an additional 90 shares during the last quarter. HBK Sorce Advisory LLC raised its position in Entergy by 2.3% during the 2nd quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock valued at $436,000 after purchasing an additional 92 shares during the last quarter. Alliance Wealth Advisors LLC raised its position in Entergy by 3.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider’s stock valued at $341,000 after purchasing an additional 92 shares during the last quarter. Finally, Marino Stram & Associates LLC raised its position in shares of Entergy by 1.6% in the 3rd quarter. Marino Stram & Associates LLC now owns 5,986 shares of the utilities provider’s stock worth $788,000 after acquiring an additional 95 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Entergy

In other news, insider Eliecer Viamontes sold 200 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $147.00, for a total value of $29,400.00. Following the transaction, the insider now directly owns 4,173 shares in the company, valued at $613,431. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $122.56, for a total value of $398,320.00. Following the transaction, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at approximately $4,288,742.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eliecer Viamontes sold 200 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $147.00, for a total value of $29,400.00. Following the completion of the transaction, the insider now directly owns 4,173 shares in the company, valued at approximately $613,431. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,338 shares of company stock worth $4,460,238 in the last ninety days. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ETR shares. Scotiabank increased their target price on Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their target price on Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Guggenheim increased their target price on Entergy from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets increased their target price on Entergy from $146.00 to $166.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Barclays upped their price target on Entergy from $137.00 to $152.00 and gave the stock an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Entergy Stock Performance

Shares of ETR opened at $145.96 on Friday. The business’s fifty day simple moving average is $131.25 and its two-hundred day simple moving average is $118.08. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. Entergy Co. has a 12 month low of $94.85 and a 12 month high of $156.85. The company has a market cap of $31.30 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 2.69 and a beta of 0.71.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period last year, the business posted $3.27 EPS. Research analysts anticipate that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be paid a $1.20 dividend. This is an increase from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Wednesday, November 13th. Entergy’s dividend payout ratio (DPR) is 55.05%.

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.