International Assets Investment Management LLC Sells 875 Shares of Entergy Co. (NYSE:ETR)

Posted by on Jul 4th, 2023

International Assets Investment Management LLC lowered its holdings in shares of Entergy Co. (NYSE:ETR – Free Report) by 26.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,421 shares of the utilities provider’s stock after selling 875 shares during the quarter. International Assets Investment Management LLC’s holdings in Entergy were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Financial Management Professionals Inc. lifted its holdings in shares of Entergy by 1,019.0% in the 1st quarter. Financial Management Professionals Inc. now owns 235 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 214 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Entergy by 75.2% in the 4th quarter. Lindbrook Capital LLC now owns 233 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Trust Co. of Vermont bought a new stake in shares of Entergy in the 1st quarter worth about $26,000. Proficio Capital Partners LLC bought a new stake in shares of Entergy in the 1st quarter worth about $26,000. Finally, Fairfield Bush & CO. bought a new stake in shares of Entergy in the 1st quarter worth about $29,000. Institutional investors own 86.41% of the company’s stock.

Entergy Trading Up 0.8 %

NYSE ETR opened at $98.14 on Tuesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.66 and a current ratio of 0.90. The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.56 and a beta of 0.64. The company’s 50-day simple moving average is $101.69 and its two-hundred day simple moving average is $105.55. Entergy Co. has a one year low of $94.16 and a one year high of $122.46.

Entergy (NYSE:ETR – Free Report) last issued its quarterly earnings data on Wednesday, April 26th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). Entergy had a return on equity of 10.34% and a net margin of 8.17%. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the firm earned $1.32 EPS. Equities analysts forecast that Entergy Co. will post 6.67 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 4th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date was Wednesday, May 3rd. Entergy’s payout ratio is currently 77.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Entergy from $119.00 to $107.00 in a report on Sunday, May 21st. Citigroup reduced their price target on shares of Entergy from $131.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 12th. Guggenheim reduced their price target on shares of Entergy from $128.00 to $124.00 in a research note on Monday, April 24th. Morgan Stanley raised their price target on shares of Entergy from $97.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Entergy from $134.00 to $120.00 in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $119.08.

Entergy Company Profile

(Free Report)

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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