Entergy Corporation $ETR Shares Sold by Mackenzie Financial Corp

by · The Markets Daily

Mackenzie Financial Corp trimmed its position in Entergy Corporation (NYSE:ETR – Free Report) by 59.8% during the second quarter, Holdings Channel.com reports. The firm owned 100,807 shares of the utilities provider’s stock after selling 150,266 shares during the period. Mackenzie Financial Corp’s holdings in Entergy were worth $8,379,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ETR. Mesirow Financial Investment Management Inc. raised its stake in Entergy by 3.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 3,864 shares of the utilities provider’s stock valued at $321,000 after buying an additional 116 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Entergy by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 41,397 shares of the utilities provider’s stock worth $3,377,000 after acquiring an additional 118 shares in the last quarter. Virtus Investment Advisers LLC increased its holdings in shares of Entergy by 6.2% in the 2nd quarter. Virtus Investment Advisers LLC now owns 2,119 shares of the utilities provider’s stock valued at $176,000 after acquiring an additional 124 shares during the last quarter. My Legacy Advisors LLC increased its holdings in shares of Entergy by 0.8% in the 2nd quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider’s stock valued at $1,361,000 after acquiring an additional 128 shares during the last quarter. Finally, New Hampshire Trust raised its position in shares of Entergy by 3.6% during the 2nd quarter. New Hampshire Trust now owns 4,103 shares of the utilities provider’s stock worth $341,000 after acquiring an additional 141 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Anastasia Minor sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the transaction, the insider owned 10,122 shares of the company’s stock, valued at $975,659.58. This trade represents a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Haley Fisackerly sold 5,136 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total value of $495,624.00. Following the sale, the insider directly owned 7,899 shares of the company’s stock, valued at approximately $762,253.50. This represents a 39.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,179 shares of company stock valued at $981,707 over the last quarter. 0.47% of the stock is currently owned by insiders.

Entergy Stock Performance

Shares of ETR opened at $93.07 on Wednesday. The company’s 50 day simple moving average is $95.39 and its 200-day simple moving average is $89.15. The firm has a market cap of $41.56 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 2.38 and a beta of 0.62. Entergy Corporation has a 12-month low of $73.15 and a 12-month high of $98.58. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62.

Entergy (NYSE:ETR – Get Free Report) last released its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. The firm had revenue of $2.37 billion during the quarter. As a group, equities analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.8%. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, November 13th. Entergy’s payout ratio is currently 63.21%.

Wall Street Analyst Weigh In

ETR has been the subject of a number of research analyst reports. Barclays set a $100.00 price target on Entergy and gave the company an “overweight” rating in a report on Monday, October 6th. Royal Bank Of Canada upgraded shares of Entergy to a “moderate buy” rating in a report on Tuesday, October 28th. Scotiabank set a $105.00 target price on shares of Entergy and gave the company an “outperform” rating in a research report on Friday, October 3rd. KeyCorp reiterated an “overweight” rating and set a $106.00 price target (up from $96.00) on shares of Entergy in a research note on Wednesday, October 15th. Finally, Citigroup upped their price objective on shares of Entergy from $91.00 to $106.00 and gave the company a “neutral” rating in a research note on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.47.

Check Out Our Latest Stock Analysis on ETR

About Entergy

(Free Report)

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.

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