Norden Group LLC Purchases Shares of 1,928 Entergy Co. (NYSE:ETR)

Norden Group LLC acquired a new position in Entergy Co. (NYSE:ETR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,928 shares of the utilities provider’s stock, valued at approximately $204,000.

Several other large investors have also recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of Entergy by 55.6% during the first quarter. Van ECK Associates Corp now owns 74,685 shares of the utilities provider’s stock worth $7,893,000 after purchasing an additional 26,690 shares in the last quarter. HB Wealth Management LLC increased its position in Entergy by 32.2% during the 1st quarter. HB Wealth Management LLC now owns 3,342 shares of the utilities provider’s stock valued at $353,000 after buying an additional 814 shares in the last quarter. Concord Wealth Partners raised its stake in Entergy by 28.1% in the first quarter. Concord Wealth Partners now owns 3,205 shares of the utilities provider’s stock valued at $339,000 after buying an additional 703 shares during the last quarter. Caprock Group LLC boosted its holdings in Entergy by 5.1% in the first quarter. Caprock Group LLC now owns 4,121 shares of the utilities provider’s stock worth $436,000 after acquiring an additional 200 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Entergy by 9.2% during the first quarter. Commonwealth Equity Services LLC now owns 44,807 shares of the utilities provider’s stock worth $4,735,000 after acquiring an additional 3,789 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling

In other news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the sale, the insider now directly owns 2,479 shares in the company, valued at $273,260.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the sale, the insider now directly owns 2,479 shares of the company’s stock, valued at approximately $273,260.17. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Entergy Price Performance

Shares of NYSE ETR opened at $109.17 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45. The firm’s 50 day simple moving average is $108.70 and its 200-day simple moving average is $104.68. Entergy Co. has a 12 month low of $87.10 and a 12 month high of $114.28. The stock has a market capitalization of $23.31 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 2.06 and a beta of 0.71.

Entergy (NYSE:ETR) last released its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.36). The firm had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. Entergy had a net margin of 17.75% and a return on equity of 10.20%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. Analysts expect that Entergy Co. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Entergy from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. KeyCorp boosted their price objective on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Morgan Stanley reduced their target price on Entergy from $103.00 to $98.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Scotiabank dropped their price target on Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $109.50 price objective (down from $117.00) on shares of Entergy in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and an average target price of $113.50.

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.