UNIVEST FINANCIAL Corp Trims Stock Position in Entergy Corporation $ETR

UNIVEST FINANCIAL Corp lowered its holdings in Entergy Corporation (NYSE:ETR) by 1.4% during the second quarter, Holdings Channel.com reports. The firm owned 15,168 shares of the utilities provider’s stock after selling 212 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Entergy were worth $1,261,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. TD Asset Management Inc raised its position in Entergy by 964.8% in the first quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider’s stock valued at $261,232,000 after purchasing an additional 2,768,734 shares during the period. Vanguard Group Inc. raised its position in Entergy by 5.2% in the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider’s stock valued at $4,687,331,000 after purchasing an additional 2,695,348 shares during the period. Alkeon Capital Management LLC purchased a new stake in Entergy in the first quarter valued at $194,429,000. Nuveen LLC purchased a new stake in shares of Entergy in the 1st quarter valued at approximately $123,648,000. Finally, Zimmer Partners LP raised its stake in shares of Entergy by 285.5% in the 1st quarter. Zimmer Partners LP now owns 1,133,474 shares of the utilities provider’s stock valued at $96,901,000 after acquiring an additional 839,474 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Shares of ETR opened at $96.10 on Friday. Entergy Corporation has a fifty-two week low of $70.21 and a fifty-two week high of $98.58. The firm’s 50 day moving average price is $92.17 and its 200 day moving average price is $87.07. The company has a market cap of $42.90 billion, a P/E ratio of 23.73, a PEG ratio of 2.40 and a beta of 0.62. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 1.62.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%.The company had revenue of $2.37 billion for the quarter. On average, research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BTIG Research raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada raised shares of Entergy to a “moderate buy” rating in a research note on Tuesday. Morgan Stanley set a $93.00 price target on shares of Entergy and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Mizuho boosted their price target on shares of Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Bank of America boosted their price target on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and a consensus target price of $101.13.

Entergy 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.