Alpine Woods Capital Investors LLC purchased a new stake in Entergy Co. (NYSE:ETR) in the third quarter, HoldingsChannel reports. The institutional investor purchased 1,958 shares of the utilities provider’s stock, valued at approximately $230,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Captrust Financial Advisors raised its holdings in shares of Entergy by 151.0% in the second quarter. Captrust Financial Advisors now owns 261 shares of the utilities provider’s stock valued at $27,000 after buying an additional 157 shares during the last quarter. NuWave Investment Management LLC raised its holdings in shares of Entergy by 957.1% in the third quarter. NuWave Investment Management LLC now owns 296 shares of the utilities provider’s stock valued at $35,000 after buying an additional 268 shares during the last quarter. Coastal Capital Group Inc. purchased a new stake in shares of Entergy in the second quarter valued at about $37,000. Meeder Asset Management Inc. raised its holdings in shares of Entergy by 1,469.6% in the second quarter. Meeder Asset Management Inc. now owns 361 shares of the utilities provider’s stock valued at $37,000 after buying an additional 338 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC purchased a new stake in shares of Entergy in the second quarter valued at about $45,000. 86.56% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Entergy from $116.00 to $129.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Morgan Stanley upped their target price on shares of Entergy from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. UBS Group cut shares of Entergy from a “buy” rating to a “neutral” rating and upped their target price for the company from $115.00 to $126.00 in a report on Thursday, October 31st. Citigroup upped their target price on shares of Entergy from $109.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. They noted that the move was a valuation call. Finally, KeyCorp upped their target price on shares of Entergy from $118.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $115.00.
In related news, EVP Marcus V. Brown sold 21,445 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $2,358,950.00. Following the completion of the transaction, the executive vice president now directly owns 38,411 shares of the company’s stock, valued at $4,225,210. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP A. Christopher Bakken III sold 6,750 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $64.84, for a total transaction of $437,670.00. The disclosure for this sale can be found here. Insiders have sold 59,156 shares of company stock valued at $6,188,830 over the last three months. 0.27% of the stock is currently owned by corporate insiders.
Shares of NYSE:ETR opened at $116.35 on Thursday. The stock has a market capitalization of $23.79 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 3.22 and a beta of 0.28. Entergy Co. has a one year low of $82.06 and a one year high of $122.09. The company has a 50-day simple moving average of $117.85 and a 200-day simple moving average of $107.06. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.53 and a current ratio of 0.72.
Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.23. The firm had revenue of $36.72 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Entergy had a net margin of 7.38% and a return on equity of 11.13%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.77 earnings per share. As a group, research analysts forecast that Entergy Co. will post 5.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 7th will be issued a dividend of $0.93 per share. This is a boost from Entergy’s previous quarterly dividend of $0.91. This represents a $3.72 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, November 6th. Entergy’s dividend payout ratio is currently 49.79%.
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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