Plimoth Trust Co. LLC Sells 260 Shares of Entergy Co. (NYSE:ETR)

Plimoth Trust Co. LLC trimmed its holdings in Entergy Co. (NYSE:ETR) by 4.4% in the third quarter, HoldingsChannel reports. The fund owned 5,685 shares of the utilities provider’s stock after selling 260 shares during the period. Plimoth Trust Co. LLC’s holdings in Entergy were worth $748,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ETR. Ameriprise Financial Inc. raised its stake in Entergy by 47.1% in the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock worth $693,260,000 after buying an additional 2,075,776 shares in the last quarter. Capital International Investors boosted its position 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 worth $440,690,000 after purchasing an additional 1,630,057 shares in the last quarter. Millennium Management LLC grew its stake 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 worth $200,804,000 after buying an additional 1,219,419 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position 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 valued at $741,135,000 after buying an additional 763,834 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake 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 valued at $114,876,000 after buying an additional 506,239 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of several analyst reports. Scotiabank raised their price target on Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their target price on shares of Entergy from $131.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Wells Fargo & Company increased their price target on shares of Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. KeyCorp upped their price objective on Entergy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Bank of America lifted their target price on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.96.

Insider Transactions at Entergy

In related news, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total transaction of $72,018.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,092,241.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s 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 completion of the transaction, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,810 shares of company stock valued at $6,140,626 over the last three months. Corporate insiders own 0.39% of the company’s stock.

Entergy Stock Performance

Shares of ETR stock traded down $0.24 during mid-day trading on Monday, reaching $135.04. 1,022,528 shares of the company’s stock traded hands, compared to its average volume of 1,557,390. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. The firm has a market capitalization of $28.84 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74. Entergy Co. has a 12 month low of $90.78 and a 12 month high of $136.02. The firm has a 50 day moving average price of $125.66 and a two-hundred day moving average price of $114.89.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.76 by $0.16. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate 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 company earned $1.84 earnings per share. On average, research analysts forecast that Entergy Co. will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were given a $1.13 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.35%. Entergy’s payout ratio is currently 45.34%.

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.