Concord Wealth Partners Sells 204 Shares of Entergy Co. (NYSE:ETR)

Concord Wealth Partners reduced its stake in shares of Entergy Co. (NYSE:ETR) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,502 shares of the utilities provider’s stock after selling 204 shares during the quarter. Concord Wealth Partners’ holdings in Entergy were worth $253,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of Entergy by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 38,239 shares of the utilities provider’s stock valued at $3,537,000 after buying an additional 467 shares in the last quarter. SVB Wealth LLC boosted its stake in Entergy by 7.1% in the 3rd quarter. SVB Wealth LLC now owns 2,513 shares of the utilities provider’s stock worth $232,000 after purchasing an additional 166 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Entergy by 14.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,021 shares of the utilities provider’s stock valued at $2,407,000 after purchasing an additional 3,345 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Entergy by 51.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 136,927 shares of the utilities provider’s stock valued at $12,666,000 after purchasing an additional 46,219 shares in the last quarter. Finally, Dakota Wealth Management acquired a new position in shares of Entergy during the third quarter worth about $217,000. Institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

ETR has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $117.00 target price on shares of Entergy in a research report on Monday, February 26th. Barclays cut their price objective on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. BMO Capital Markets increased their target price on shares of Entergy from $110.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. KeyCorp lifted their price target on shares of Entergy from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Scotiabank cut their price target on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.45.

Entergy Stock Performance

Shares of ETR opened at $106.98 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45. The firm has a 50-day moving average of $103.80 and a 200-day moving average of $100.99. The company has a market cap of $22.81 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.98 and a beta of 0.69. Entergy Co. has a one year low of $87.10 and a one year high of $108.45.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The business had revenue of $31.17 billion for the quarter, compared to the consensus estimate of $3.16 billion. Entergy had a return on equity of 10.20% and a net margin of 17.75%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. As a group, equities analysts forecast that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

Insider Buying and Selling at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 1,500 shares of Entergy stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the completion of the transaction, the insider now directly owns 3,442 shares of the company’s stock, valued at $348,433.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Entergy news, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $100.35, for a total value of $200,700.00. Following the completion of the transaction, the executive vice president now directly owns 16,037 shares in the company, valued at approximately $1,609,312.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Deanna D. Rodriguez sold 1,500 shares of Entergy stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total transaction of $151,845.00. Following the transaction, the insider now owns 3,442 shares in the company, valued at approximately $348,433.66. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $1,226,685 in the last quarter. 0.39% of the stock is currently owned by insiders.

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.