Sumitomo Mitsui Trust Holdings Inc. Sells 9,606 Shares of Entergy Co. (NYSE:ETR)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of Entergy Co. (NYSE:ETR) by 1.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 509,653 shares of the utilities provider’s stock after selling 9,606 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Entergy were worth $51,572,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Entergy by 157.1% in the third quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 165 shares during the period. Fairfield Bush & CO. acquired a new position in shares of Entergy in the 1st quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Entergy in the 3rd quarter worth approximately $32,000. Fortis Group Advisors LLC bought a new stake in shares of Entergy in the 3rd quarter valued at $32,000. Finally, Harbour Investments Inc. increased its position in shares of Entergy by 17,550.0% during the third quarter. Harbour Investments Inc. now owns 353 shares of the utilities provider’s stock worth $33,000 after buying an additional 351 shares during the period. Institutional investors own 88.07% of the company’s stock.

Insider Transactions at Entergy

In related news, EVP Marcus V. Brown sold 8,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the transaction, the executive vice president now owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Marcus V. Brown sold 8,500 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the sale, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the firm’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 owns 16,037 shares in the company, valued at approximately $1,609,312.95. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $1,226,685 over the last three months. Corporate insiders own 0.39% of the company’s stock.

Entergy Stock Up 0.5 %

ETR stock opened at $103.75 on Friday. The stock’s 50 day simple moving average is $102.44 and its 200 day simple moving average is $100.01. The company has a market cap of $22.12 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 2.04 and a beta of 0.71. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.32 and a current ratio of 0.57. Entergy Co. has a fifty-two week low of $87.10 and a fifty-two week high of $109.85.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. Entergy had a return on equity of 10.54% and a net margin of 19.41%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, research analysts expect that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Wednesday, May 1st. Entergy’s dividend payout ratio is currently 40.76%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ETR. Royal Bank of Canada restated an “outperform” rating and issued a $117.00 target price on shares of Entergy in a report on Monday, February 26th. Barclays cut their target price on Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, BMO Capital Markets lifted their target price on Entergy from $110.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $109.78.

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.