BlueMountain Capital Management LLC acquired a new position in shares of Entergy Corporation (NYSE:ETR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,657 shares of the utilities provider’s stock, valued at approximately $204,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its holdings in Entergy Corporation by 46.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 410 shares during the period. V Wealth Management LLC purchased a new position in Entergy Corporation during the 2nd quarter worth $106,000. Parallel Advisors LLC increased its holdings in Entergy Corporation by 291.6% during the 1st quarter. Parallel Advisors LLC now owns 2,377 shares of the utilities provider’s stock worth $182,000 after purchasing an additional 1,770 shares during the period. ClariVest Asset Management LLC purchased a new position in Entergy Corporation during the 1st quarter worth $205,000. Finally, IBM Retirement Fund increased its holdings in Entergy Corporation by 34.1% during the 2nd quarter. IBM Retirement Fund now owns 2,669 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 678 shares during the period. Institutional investors own 84.16% of the company’s stock.
In related news, Director Alexis M. Herman sold 995 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.38, for a total transaction of $75,998.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles L. Rice, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $78.95, for a total transaction of $78,950.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,495 shares of company stock valued at $271,313. Insiders own 0.24% of the company’s stock.
Shares of Entergy Corporation (NYSE:ETR) opened at 76.75 on Friday. The firm’s market cap is $13.78 billion. Entergy Corporation has a 52-week low of $66.71 and a 52-week high of $81.83. The stock has a 50 day moving average price of $78.33 and a 200-day moving average price of $77.11.
Entergy Corporation (NYSE:ETR) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $1.91. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.44 billion. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. During the same quarter in the previous year, the firm posted $3.16 earnings per share. On average, equities analysts anticipate that Entergy Corporation will post $6.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Thursday, August 10th were paid a dividend of $0.87 per share. The ex-dividend date was Tuesday, August 8th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.53%. Entergy Corporation’s payout ratio is currently -69.74%.
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Several research analysts have commented on ETR shares. Morgan Stanley raised their price objective on Entergy Corporation from $82.00 to $84.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Zacks Investment Research downgraded Entergy Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Jefferies Group LLC restated a “hold” rating and set a $78.00 price objective on shares of Entergy Corporation in a report on Thursday, July 6th. ValuEngine cut Entergy Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub cut Entergy Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $78.17.
About Entergy Corporation
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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