Horrell Capital Management Inc. Sells 2,980 Shares of Entergy Co. (NYSE:ETR)

Horrell Capital Management Inc. reduced its position in shares of Entergy Co. (NYSE:ETR) by 10.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 26,611 shares of the utilities provider’s stock after selling 2,980 shares during the quarter. Horrell Capital Management Inc.’s holdings in Entergy were worth $3,502,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GW Henssler & Associates Ltd. bought a new position in shares of Entergy during the 3rd quarter valued at approximately $14,525,000. Fortitude Family Office LLC boosted its position in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares during the last quarter. abrdn plc boosted its position in shares of Entergy by 1.9% during the 3rd quarter. abrdn plc now owns 107,966 shares of the utilities provider’s stock valued at $14,200,000 after acquiring an additional 1,984 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Entergy by 33.2% during the 3rd quarter. Pallas Capital Advisors LLC now owns 3,301 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 822 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in Entergy by 11.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,330 shares of the utilities provider’s stock worth $701,000 after buying an additional 553 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,307,787.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of Entergy stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares in the company, valued at $4,363,182.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares in the company, valued at $18,307,787.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,810 shares of company stock worth $6,140,626. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ETR shares. Bank of America raised their price target on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. KeyCorp raised their price target on Entergy from $140.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. BMO Capital Markets raised their price target on Entergy from $131.00 to $140.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Finally, Scotiabank raised their price target on Entergy from $115.00 to $119.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, two 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, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.19.

Entergy Trading Down 1.3 %

Shares of NYSE:ETR traded down $1.79 on Tuesday, hitting $134.53. 369,518 shares of the company’s stock were exchanged, compared to its average volume of 1,551,682. Entergy Co. has a 12 month low of $92.31 and a 12 month high of $138.24. The stock has a market capitalization of $28.77 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74. The business’s 50 day simple moving average is $127.87 and its two-hundred day simple moving average is $116.21. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.76 by $0.16. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter last year, the firm posted $1.84 earnings per share. Analysts anticipate that Entergy Co. will post 7.21 EPS 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 dividend of $1.20 per share. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 annualized dividend and a dividend yield of 3.57%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is currently 54.07%.

Entergy 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.