UBS Asset Management Americas Inc. Sells 51,429 Shares of Entergy Co. (NYSE:ETR)

Posted by Defense World Staff on Mar 13th, 2023

UBS Asset Management Americas Inc. lessened its stake in Entergy Co. (NYSE:ETR – Get Rating) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 624,681 shares of the utilities provider’s stock after selling 51,429 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.31% of Entergy worth $62,862,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Fairfield Bush & CO. bought a new stake in Entergy during the 1st quarter valued at $29,000. Wagner Wealth Management LLC bought a new stake in Entergy during the 2nd quarter valued at $32,000. Truvestments Capital LLC bought a new stake in Entergy during the 2nd quarter valued at $41,000. Mach 1 Financial Group LLC bought a new stake in Entergy during the 3rd quarter valued at $38,000. Finally, Estabrook Capital Management bought a new stake in Entergy during the 1st quarter valued at $48,000. Institutional investors own 89.98% of the company’s stock.

Insider Buying and Selling

In other Entergy news, insider Deanna D. Rodriguez sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $103.96, for a total transaction of $31,188.00. Following the completion of the transaction, the insider now owns 3,269 shares of the company’s stock, valued at $339,845.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Marcus V. Brown sold 12,500 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $106.10, for a total transaction of $1,326,250.00. Following the sale, the executive vice president now owns 9,129 shares in the company, valued at $968,586.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Deanna D. Rodriguez sold 300 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $103.96, for a total transaction of $31,188.00. Following the sale, the insider now owns 3,269 shares in the company, valued at approximately $339,845.24. The disclosure for this sale can be found here. Insiders sold a total of 17,092 shares of company stock valued at $1,821,838 over the last three months. Corporate insiders own 0.37% of the company’s stock.

Entergy Stock Performance

Shares of NYSE:ETR opened at $100.62 on Monday. The company has a market cap of $21.27 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 2.51 and a beta of 0.63. The company has a 50-day moving average price of $106.83 and a 200-day moving average price of $109.66. The company has a current ratio of 0.64, a quick ratio of 0.43 and a debt-to-equity ratio of 1.82. Entergy Co. has a 12 month low of $94.94 and a 12 month high of $126.82.

Entergy (NYSE:ETR – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Entergy had a net margin of 8.01% and a return on equity of 10.88%. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the firm earned $0.76 earnings per share. As a group, equities analysts anticipate that Entergy Co. will post 6.68 EPS for the current year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Thursday, February 9th. Entergy’s payout ratio is currently 79.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ETR shares. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $119.00 in a report on Tuesday, January 3rd. Mizuho decreased their price target on shares of Entergy from $114.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, January 19th. Morgan Stanley decreased their price target on shares of Entergy from $108.00 to $103.00 and set an “underweight” rating on the stock in a report on Wednesday, February 22nd. Wells Fargo & Company upped their target price on shares of Entergy from $123.00 to $135.00 in a research report on Wednesday, December 14th. Finally, TheStreet lowered shares of Entergy from a “b” rating to a “c+” rating in a research report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Entergy has a consensus rating of “Hold” and a consensus target price of $122.47.

Entergy Company Profile

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Entergy Corp. is a holding company, which engages in electric power generation and distribution. It operates through the following segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution, and sale of electric power and the operations of a natural gas distribution business.