Stock Traders Buy High Volume of Put Options on Entergy (ETR)

Entergy Co. (NYSE:ETR) saw unusually large options trading activity on Tuesday. Stock investors purchased 1,108 put options on the company. This represents an increase of approximately 1,844% compared to the average daily volume of 57 put options.

In related news, COO Paul D. Hinnenkamp sold 2,500 shares of Entergy stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $86.00, for a total value of $215,000.00. Following the completion of the transaction, the chief operating officer now owns 23,425 shares in the company, valued at $2,014,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marcus V. Brown sold 3,000 shares of Entergy stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $86.42, for a total transaction of $259,260.00. Following the completion of the transaction, the executive vice president now owns 22,264 shares of the company’s stock, valued at approximately $1,924,054.88. The disclosure for this sale can be found here. Insiders sold 29,768 shares of company stock valued at $2,570,188 in the last quarter. 0.24% of the stock is owned by insiders.

Several large investors have recently modified their holdings of ETR. Advisory Services Network LLC lifted its position in shares of Entergy by 2.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock worth $179,000 after buying an additional 49 shares during the last quarter. Krilogy Financial LLC lifted its position in shares of Entergy by 1,116.0% during the 3rd quarter. Krilogy Financial LLC now owns 2,432 shares of the utilities provider’s stock worth $186,000 after buying an additional 2,232 shares during the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Entergy during the 2nd quarter worth approximately $204,000. Buckingham Asset Management LLC purchased a new stake in shares of Entergy during the 3rd quarter worth approximately $212,000. Finally, Naples Global Advisors LLC purchased a new stake in shares of Entergy during the 4th quarter worth approximately $219,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

A number of research analysts recently issued reports on ETR shares. JPMorgan Chase & Co. lifted their price target on shares of Entergy from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Citigroup upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Friday, October 13th. Jefferies Group upgraded shares of Entergy from a “hold” rating to a “buy” rating in a research note on Monday, October 16th. Bank of America started coverage on shares of Entergy in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $86.00 price target for the company. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $96.00 price target (up previously from $90.00) on shares of Entergy in a research note on Wednesday, October 25th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $84.54.

Shares of Entergy (NYSE:ETR) opened at $76.99 on Friday. The firm has a market cap of $14,021.76, a P/E ratio of -15.58, a PEG ratio of 2.19 and a beta of 0.55. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.61. Entergy has a 12-month low of $69.63 and a 12-month high of $87.95.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.11. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a negative net margin of 7.82% and a positive return on equity of 14.76%. During the same quarter in the previous year, the firm earned $2.31 EPS. research analysts expect that Entergy will post 6.89 earnings per share for the current fiscal year.

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About Entergy

Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.

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