Jennison Associates LLC Cuts Stock Holdings in Entergy Corporation $ETR

Jennison Associates LLC trimmed its stake in shares of Entergy Corporation (NYSE:ETR) by 15.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,129,300 shares of the utilities provider’s stock after selling 402,706 shares during the period. Jennison Associates LLC’s holdings in Entergy were worth $176,987,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mattson Financial Services LLC grew its stake in Entergy by 100.0% during the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. Atwood & Palmer Inc. grew its stake in shares of Entergy by 135.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after buying an additional 190 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Entergy in the 1st quarter worth about $28,000. GoalVest Advisory LLC increased its holdings in shares of Entergy by 5,733.3% in the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock worth $29,000 after buying an additional 344 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Entergy in the 1st quarter worth about $32,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the transaction, the insider directly owned 3,318 shares of the company’s stock, valued at approximately $300,279. The trade was a 57.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Entergy Price Performance

ETR stock opened at $95.18 on Wednesday. Entergy Corporation has a 12 month low of $66.85 and a 12 month high of $98.58. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The company has a 50-day moving average price of $91.92 and a 200 day moving average price of $86.91. The stock has a market cap of $42.49 billion, a PE ratio of 23.71, a P/E/G ratio of 2.45 and a beta of 0.62.

Entergy (NYSE:ETR) last released its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The firm had revenue of $2.37 billion during the quarter. Equities research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of research reports. Scotiabank set a $105.00 target price on shares of Entergy and gave the stock an “outperform” rating in a report on Friday, October 3rd. Barclays set a $100.00 target price on shares of Entergy and gave the stock an “overweight” rating in a report on Monday, October 6th. BMO Capital Markets restated an “outperform” rating and issued a $104.00 target price (up from $96.00) on shares of Entergy in a report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Finally, Mizuho boosted their target price on shares of Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Entergy currently has an average rating of “Moderate Buy” and an average price target of $100.94.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It 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.