1832 Asset Management L.P. Acquires 119,636 Shares of Entergy Co. (NYSE:ETR)

1832 Asset Management L.P. lifted its holdings in shares of Entergy Co. (NYSE:ETR) by 27.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 548,393 shares of the utilities provider’s stock after buying an additional 119,636 shares during the period. 1832 Asset Management L.P.’s holdings in Entergy were worth $58,678,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ETR. Capital International Investors raised its holdings in Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after buying an additional 1,630,057 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of Entergy in the 1st quarter valued at approximately $92,257,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Entergy by 12.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock worth $741,135,000 after purchasing an additional 763,834 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Entergy by 89.2% during the second quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider’s stock worth $114,876,000 after purchasing an additional 506,239 shares during the period. Finally, Capital Research Global Investors boosted its position in Entergy by 22.5% during the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock worth $290,963,000 after purchasing an additional 505,705 shares during the period. Institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares in the company, valued at $18,092,241.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total transaction of $72,018.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,092,241.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,307,787.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,888 shares of company stock valued at $5,110,766. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ETR shares. Barclays upgraded shares of Entergy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $115.00 to $138.00 in a research note on Tuesday, September 17th. BMO Capital Markets upped their price target on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Morgan Stanley raised their price target on Entergy from $100.00 to $109.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Argus raised Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, KeyCorp raised their target price on Entergy from $123.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.35.

Entergy Trading Up 1.2 %

ETR stock opened at $129.25 on Monday. Entergy Co. has a 1-year low of $87.10 and a 1-year high of $129.70. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The business’s 50 day moving average is $118.52 and its 200-day moving average is $110.93. The firm has a market cap of $27.60 billion, a P/E ratio of 12.96, a P/E/G ratio of 2.31 and a beta of 0.73.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period in the prior year, the business posted $1.84 earnings per share. Equities analysts anticipate that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were given a $1.13 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.50%. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

About Entergy

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.