Alpine Woods Capital Investors LLC Purchases New Position in Entergy Co. (NYSE:ETR)

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%.

About Entergy

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.

Read More: Short Selling Stocks and Day Traders

Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Co. (NYSE:ETR).

Institutional Ownership by Quarter for Entergy (NYSE:ETR)

Receive News & Ratings for Entergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entergy and related companies with MarketBeat.com's FREE daily email newsletter.