Wesbanco Bank Inc. Sells 217 Shares of Entergy Co. (NYSE:ETR)

Wesbanco Bank Inc. reduced its stake in shares of Entergy Co. (NYSE:ETR) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,269 shares of the utilities provider’s stock after selling 217 shares during the quarter. Wesbanco Bank Inc.’s holdings in Entergy were worth $825,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ETR. Ameriprise Financial Inc. grew its holdings in Entergy by 47.1% during the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after purchasing an additional 2,075,776 shares during the period. Capital International Investors grew its holdings in shares of Entergy by 64.2% in the 1st quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after buying an additional 1,630,057 shares during the period. Millennium Management LLC grew its holdings in shares of Entergy by 185.5% in the 2nd quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider’s stock valued at $200,804,000 after buying an additional 1,219,419 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Entergy by 12.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock worth $741,135,000 after buying an additional 763,834 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Entergy by 89.2% during the second quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider’s stock worth $114,876,000 after acquiring an additional 506,239 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Insider Activity at Entergy

In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were 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 directly 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 this hyperlink. In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eliecer Viamontes sold 5,166 shares of Entergy stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the sale, the insider now directly owns 5,117 shares of the company’s stock, valued at approximately $614,040. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,810 shares of company stock worth $6,140,626. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ETR. Wells Fargo & Company increased their price target on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Argus upgraded shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Morgan Stanley raised their price objective on shares of Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada upped their target price on shares of Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.96.

Entergy Stock Performance

NYSE ETR opened at $133.36 on Wednesday. The firm’s fifty day moving average price is $124.61 and its two-hundred day moving average price is $114.26. Entergy Co. has a 1 year low of $90.78 and a 1 year high of $134.63. The firm has a market capitalization of $28.48 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74. 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 earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.16. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same period last year, the business posted $1.84 EPS. As a group, research analysts anticipate that Entergy Co. will post 7.22 EPS for the current year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Tuesday, August 13th. Entergy’s payout ratio is presently 45.34%.

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.