Entergy (NYSE:ETR) Stake Lowered by Verition Fund Management LLC

Verition Fund Management LLC lessened its holdings in Entergy (NYSE:ETR) by 52.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,894 shares of the utilities provider’s stock after selling 39,031 shares during the period. Verition Fund Management LLC’s holdings in Entergy were worth $2,921,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of Entergy by 3.2% in the third quarter. Van ECK Associates Corp now owns 18,593 shares of the utilities provider’s stock worth $1,420,000 after buying an additional 580 shares during the period. Raymond James Trust N.A. boosted its position in shares of Entergy by 12.4% in the fourth quarter. Raymond James Trust N.A. now owns 7,072 shares of the utilities provider’s stock worth $576,000 after buying an additional 779 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Entergy by 2.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 37,305 shares of the utilities provider’s stock worth $3,036,000 after buying an additional 786 shares during the period. E&G Advisors LP boosted its position in shares of Entergy by 21.6% in the fourth quarter. E&G Advisors LP now owns 4,500 shares of the utilities provider’s stock worth $366,000 after buying an additional 800 shares during the period. Finally, NewSquare Capital LLC boosted its position in shares of Entergy by 7.2% in the fourth quarter. NewSquare Capital LLC now owns 12,314 shares of the utilities provider’s stock worth $1,002,000 after buying an additional 828 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

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NYSE ETR opened at $78.98 on Friday. Entergy has a fifty-two week low of $71.95 and a fifty-two week high of $87.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.47 and a current ratio of 0.65. The stock has a market cap of $14,324.25, a price-to-earnings ratio of 10.97, a P/E/G ratio of 2.03 and a beta of 0.47.

Entergy (NYSE:ETR) last posted its earnings results on Friday, February 23rd. The utilities provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.34. Entergy had a return on equity of 15.79% and a net margin of 3.81%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the company earned $0.31 earnings per share. analysts anticipate that Entergy will post 5.58 earnings per share for the current fiscal year.

A number of research firms recently issued reports on ETR. UBS began coverage on Entergy in a research report on Friday, February 2nd. They set a “neutral” rating and a $82.00 price objective for the company. Guggenheim reissued a “buy” rating and set a $101.00 price objective on shares of Entergy in a research report on Wednesday, January 3rd. Morgan Stanley set a $76.00 price objective on Entergy and gave the company a “hold” rating in a research report on Thursday, March 8th. Wells Fargo reissued an “outperform” rating and set a $90.00 price objective (down previously from $96.00) on shares of Entergy in a research report on Monday, February 26th. They noted that the move was a valuation call. Finally, Bank of America raised Entergy from a “neutral” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Tuesday, December 12th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Entergy has a consensus rating of “Buy” and a consensus target price of $83.08.

In other Entergy news, SVP Alyson M. Mount sold 10,396 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $78.50, for a total transaction of $816,086.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Haley Fisackerly sold 500 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $78.02, for a total value of $39,010.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

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Entergy Company Profile

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.

Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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