Ieq Capital LLC acquired a new position in shares of Entergy Co. (NYSE:ETR – Get Rating) during the first quarter, reports Holdings Channel.com. The fund acquired 1,800 shares of the utility company’s stock for approximately $210,000.
A number of other hedge funds have recently changed their holdings of ETR. Whittier Trust Co. increased its position in Entergy shares by 42.4% in the fourth quarter. Whittier Trust Co. now owns 2,362 shares of the utility worth $266,000 after buying another 703 shares last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Entergy by 60.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,628 shares of the utility worth $2,323,000 after purchasing an additional 7,734 shares last quarter. AE Wealth Management LLC increased its position in Entergy by 13.4% during the fourth quarter. AE Wealth Management LLC now owns 63,342 shares of the utility company’s stock valued at $7,135,000 after purchasing an additional 7,487 shares last quarter. Kestra Advisory Services LLC increased its position in Entergy shares by 3.5% during the fourth quarter. Kestra Advisory Services LLC now owns 8,960 shares of the utility worth $1,009,000 after purchasing an additional 306 shares last quarter. Finally, Concord Wealth Partners increased its stake in Entergy by 12.3% in the fourth quarter. Concord Wealth Partners now owns 2,937 shares of the $331,000 utility company after buying an additional 321 shares last quarter. Hedge funds and other institutional investors own 88.94% of the company’s shares.
ETR has been the subject of several research reports. Hauck Aufhauser In… put a price target of $28.00 on Entergy in a research report on Wednesday, May 18th. BMO Capital Markets lowered its price target on Entergy shares to $125.00 from $137.00 in a research note on Tuesday, June 14. Goldman Sachs Group issued a price target of $224.00 for Entergy shares in a research report on Monday, May 16. Morgan Stanley lowered its price target on Entergy shares to $111.00 from $115.00 and listed the company as “underweight” in a research report on Monday, May 23. Finally, UBS Group placed a price target of $123.00 on Entergy shares in a report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, four with a hold rating and four with a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $121.93.
In related news, insider Deanna D. Rodriguez sold 256 shares of the company’s stock in a transaction that took place on Friday, April 29. The shares sold at an average price of $120.22 for a total transaction of $30,776.32. Following the closing of the sale, the insider now directly owns 3,108 shares of the company’s stock valued at $373,643.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission available at this link. Also on Wednesday, April 20, SVP Peter S. Norgeot, Jr. sold 4,068 shares of the company’s shares in a transaction. The shares sold at an average price of $125.62 for a total value of $511,022.16. Upon closing of the transaction, the Senior Vice President now directly owns 25,355 shares of the Company, valued at approximately $3,185,095.10. The disclosure for this sale can be found here. Over the past 90 days, insiders sold 10,824 shares of the company’s stock valued at $1,327,908. Insiders own 0.37% of the company’s shares.
NYSE:ETR opened at $109.75 on Friday. The stock has a market cap of $22.32 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 2.59, and a beta of 0.60. The company has a debt to equity ratio of 2.24, a quick ratio of 0.49 and a current ratio of 0.72. Entergy Co. has a 1-year low of $98.50 and a 1-year high of $126.82. The company has a 50-day moving average of $114.10 and a 200-day moving average of $113.31.
Entergy (NYSE:ETR – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The utility provider reported earnings per share of $1.32 for the quarter, missing the consensus estimate of $1.38 ($0.06). The company had revenue of $2.88 billion in the quarter, compared to analyst estimates of $2.90 billion. Entergy had a return on equity of 10.44% and a net margin of 8.99%. In the same period last year, the company earned $1.47 per share. On average, equity analysts are forecasting that Entergy Co. will post 6.35 EPS for the year to date.
About Entergy (received rating)
Entergy Corporation, together with its subsidiaries, is engaged in power generation and distribution in the United States. It operates through two segments, Utility and Entergy Wholesale Commodities. The Utilities segment generates, transmits, distributes, and sells electrical power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the city of New Orleans; and sells natural gas.
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