Pinebridge Investments L.P. lessened its stake in shares of Entergy Co. (NYSE:ETR) by 25.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,799 shares of the utilities provider’s stock after selling 62,713 shares during the quarter. Pinebridge Investments L.P.’s holdings in Entergy were worth $19,021,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Captrust Financial Advisors lifted its position in Entergy by 151.0% during the 2nd quarter. Captrust Financial Advisors now owns 261 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 157 shares during the period. Coastal Capital Group Inc. acquired a new position in Entergy in the second quarter valued at $37,000. Meeder Asset Management Inc. boosted its stake in shares of Entergy by 1,469.6% during the second quarter. Meeder Asset Management Inc. now owns 361 shares of the utilities provider’s stock worth $37,000 after buying an additional 338 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Entergy by 391.7% during the second quarter. Parkside Financial Bank & Trust now owns 472 shares of the utilities provider’s stock worth $49,000 after buying an additional 376 shares during the period. Finally, AGF Investments LLC boosted its stake in shares of Entergy by 22.3% during the second quarter. AGF Investments LLC now owns 548 shares of the utilities provider’s stock worth $56,000 after buying an additional 100 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Marcus V. Brown sold 21,445 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $2,358,950.00. Following the completion of the transaction, the executive vice president now directly owns 38,411 shares of the company’s stock, valued at approximately $4,225,210. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Leo P. Denault sold 24,211 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $2,663,210.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,939 shares of company stock valued at $8,896,045. Corporate insiders own 0.27% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. UBS Group set a $115.00 target price on shares of Entergy and gave the stock a “buy” rating in a research note on Monday, July 15th. Morgan Stanley cut shares of Entergy from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $114.00 to $115.00 in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised shares of Entergy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $105.00 to $116.00 in a report on Monday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $103.33.
Entergy stock traded down $0.81 during mid-day trading on Friday, reaching $113.08. The company had a trading volume of 52,559 shares, compared to its average volume of 1,135,394. Entergy Co. has a 1 year low of $78.99 and a 1 year high of $115.90. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.73 and a quick ratio of 0.52. The company has a market capitalization of $22.32 billion, a P/E ratio of 15.49, a P/E/G ratio of 3.05 and a beta of 0.29. The stock’s 50-day simple moving average is $109.26 and its 200-day simple moving average is $100.66.
Entergy (NYSE:ETR) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $1.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.03). Entergy had a net margin of 8.97% and a return on equity of 13.75%. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the business posted $1.42 earnings per share. On average, equities analysts forecast that Entergy Co. will post 5.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 8th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.22%. Entergy’s dividend payout ratio (DPR) is 49.79%.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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