Riverhead Capital Management LLC lifted its holdings in Entergy Co. (NYSE:ETR) by 66.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 46,604 shares of the utilities provider’s stock after purchasing an additional 18,610 shares during the period. Riverhead Capital Management LLC’s holdings in Entergy were worth $3,781,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ETR. BTC Capital Management Inc. raised its stake in Entergy by 1.4% during the 2nd quarter. BTC Capital Management Inc. now owns 43,863 shares of the utilities provider’s stock worth $3,542,000 after acquiring an additional 599 shares during the period. Commonwealth Equity Services LLC raised its stake in Entergy by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 26,393 shares of the utilities provider’s stock worth $2,132,000 after acquiring an additional 657 shares during the period. Reinhart Partners Inc. raised its stake in Entergy by 0.3% during the 3rd quarter. Reinhart Partners Inc. now owns 204,714 shares of the utilities provider’s stock worth $16,608,000 after acquiring an additional 666 shares during the period. Baird Financial Group Inc. raised its stake in Entergy by 3.8% during the 2nd quarter. Baird Financial Group Inc. now owns 20,230 shares of the utilities provider’s stock worth $1,634,000 after acquiring an additional 748 shares during the period. Finally, Chicago Partners Investment Group LLC raised its stake in Entergy by 7.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,404 shares of the utilities provider’s stock worth $958,000 after acquiring an additional 800 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.
In related news, EVP Donald W. Vinci sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $89.00, for a total value of $178,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Leo P. Denault sold 42,477 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $86.47, for a total transaction of $3,672,986.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,727 shares of company stock worth $6,822,282. Company insiders own 0.24% of the company’s stock.
Entergy stock opened at $87.96 on Friday. The company has a market cap of $16.12 billion, a PE ratio of 12.22, a P/E/G ratio of 1.82 and a beta of 0.42. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.88. Entergy Co. has a 1 year low of $71.95 and a 1 year high of $89.43.
Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.94. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Entergy had a net margin of 4.01% and a return on equity of 16.94%. During the same quarter last year, the business posted $2.35 earnings per share. As a group, analysts anticipate that Entergy Co. will post 6.98 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Thursday, November 8th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, November 7th. This represents a $3.64 annualized dividend and a dividend yield of 4.14%. This is a boost from Entergy’s previous quarterly dividend of $0.89. Entergy’s dividend payout ratio (DPR) is presently 50.56%.
ETR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Entergy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 29th. Wells Fargo & Co raised their target price on shares of Entergy from $91.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, September 17th. Morgan Stanley set a $86.00 target price on shares of Entergy and gave the stock a “hold” rating in a research note on Thursday, October 11th. Zacks Investment Research restated a “strong-buy” rating and set a $97.00 target price on shares of Entergy in a research note on Tuesday, November 13th. Finally, Bank of America raised their target price on shares of Entergy from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, November 1st. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $89.63.
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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.
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