Ceredex Value Advisors LLC Sells 176,625 Shares of Entergy Co. (NYSE:ETR)

Ceredex Value Advisors LLC trimmed its holdings in Entergy Co. (NYSE:ETR) by 56.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,200 shares of the utilities provider’s stock after selling 176,625 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Entergy were worth $18,189,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ETR. Bank & Trust Co raised its position in shares of Entergy by 12.8% in the 3rd quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 90 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in Entergy by 2.3% in the 2nd quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock worth $436,000 after acquiring an additional 92 shares in the last quarter. Alliance Wealth Advisors LLC lifted its position in shares of Entergy by 3.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider’s stock valued at $341,000 after acquiring an additional 92 shares in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Entergy by 5.4% in the third quarter. CarsonAllaria Wealth Management Ltd. now owns 1,858 shares of the utilities provider’s stock worth $245,000 after buying an additional 95 shares in the last quarter. Finally, Marino Stram & Associates LLC grew its position in shares of Entergy by 1.6% in the third quarter. Marino Stram & Associates LLC now owns 5,986 shares of the utilities provider’s stock valued at $788,000 after purchasing an additional 95 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Entergy

In other Entergy news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the completion of the transaction, the insider now directly owns 5,117 shares of the company’s stock, valued at $614,040. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Entergy news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $619,920.00. Following the completion of the transaction, the insider now owns 5,117 shares in the company, valued at approximately $614,040. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total value of $1,029,860.00. Following the transaction, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,549,090. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,810 shares of company stock worth $6,140,626 in the last 90 days. 0.39% of the stock is currently owned by company insiders.

Entergy Stock Down 6.5 %

ETR stock opened at $144.79 on Friday. The firm has a 50 day simple moving average of $129.72 and a 200-day simple moving average of $117.12. The company has a market capitalization of $30.96 billion, a P/E ratio of 17.64, a PEG ratio of 2.54 and a beta of 0.74. Entergy Co. has a twelve month low of $94.85 and a twelve month high of $156.85. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period in the previous year, the business earned $3.27 EPS. On average, equities research analysts predict that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, November 13th. Entergy’s dividend payout ratio is presently 58.47%.

Wall Street Analyst Weigh In

ETR has been the topic of a number of analyst reports. KeyCorp lifted their target price on shares of Entergy from $143.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday. StockNews.com cut Entergy from a “hold” rating to a “sell” rating in a research note on Friday. Morgan Stanley lifted their price target on Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Guggenheim lifted their target price on Entergy from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday. Finally, UBS Group increased their price target on Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and a consensus price target of $141.96.

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.