Traders Buy Shares of Entergy (ETR) on Weakness

Investors bought shares of Entergy Co. (NYSE:ETR) on weakness during trading on Wednesday. $41.39 million flowed into the stock on the tick-up and $24.94 million flowed out of the stock on the tick-down, for a money net flow of $16.45 million into the stock. Of all equities tracked, Entergy had the 31st highest net in-flow for the day. Entergy traded down ($1.09) for the day and closed at $79.09

ETR has been the topic of several recent research reports. Morgan Stanley dropped their target price on shares of Entergy from $79.00 to $75.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 13th. Zacks Investment Research cut shares of Entergy from a “hold” rating to a “sell” rating in a report on Friday, June 15th. Citigroup increased their target price on shares of Entergy from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, June 20th. Goldman Sachs Group upgraded shares of Entergy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $87.00 to $88.00 in a report on Thursday, July 19th. Finally, Howard Weil began coverage on shares of Entergy in a report on Tuesday, July 24th. They set a “sector perform” rating and a $84.00 target price on the stock. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Entergy has a consensus rating of “Buy” and a consensus target price of $88.63.

The stock has a market cap of $14.77 billion, a P/E ratio of 10.98, a PEG ratio of 1.82 and a beta of 0.48. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.42 and a current ratio of 0.57.

Entergy (NYSE:ETR) last released its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.48. The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.55 billion. Entergy had a net margin of 2.73% and a return on equity of 13.45%. During the same period in the prior year, the firm posted $3.11 earnings per share. analysts anticipate that Entergy Co. will post 6.41 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Thursday, August 9th were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Wednesday, August 8th. Entergy’s payout ratio is 49.44%.

In related news, COO Paul D. Hinnenkamp sold 13,500 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $83.67, for a total value of $1,129,545.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Phillip R. May, Jr. sold 3,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $84.00, for a total transaction of $252,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,377 shares of company stock valued at $3,141,926. Insiders own 0.25% of the company’s stock.

Several institutional investors have recently made changes to their positions in ETR. FMR LLC raised its position in shares of Entergy by 256.4% in the 2nd quarter. FMR LLC now owns 2,585,554 shares of the utilities provider’s stock valued at $208,886,000 after purchasing an additional 1,860,030 shares during the last quarter. Millennium Management LLC raised its position in shares of Entergy by 107.5% in the 2nd quarter. Millennium Management LLC now owns 2,700,290 shares of the utilities provider’s stock valued at $218,156,000 after purchasing an additional 1,398,892 shares during the last quarter. Luminus Management LLC acquired a new position in Entergy in the 2nd quarter worth approximately $110,530,000. Massachusetts Financial Services Co. MA acquired a new position in Entergy in the 2nd quarter worth approximately $93,409,000. Finally, Boston Partners increased its holdings in Entergy by 38.4% in the 2nd quarter. Boston Partners now owns 2,824,231 shares of the utilities provider’s stock worth $228,170,000 after buying an additional 784,238 shares during the period. 91.41% of the stock is owned by hedge funds and other institutional investors.

About Entergy (NYSE:ETR)

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.

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