Neuberger Berman Group LLC Sells 98,759 Shares of Entergy Co. (ETR)

Neuberger Berman Group LLC cut its holdings in Entergy Co. (NYSE:ETR) by 90.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,508 shares of the utilities provider’s stock after selling 98,759 shares during the period. Neuberger Berman Group LLC’s holdings in Entergy were worth $853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Kentucky Retirement Systems bought a new position in shares of Entergy in the third quarter valued at $931,000. Macquarie Group Ltd. grew its stake in shares of Entergy by 4.4% in the third quarter. Macquarie Group Ltd. now owns 33,000 shares of the utilities provider’s stock valued at $2,678,000 after buying an additional 1,400 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Entergy in the third quarter valued at $475,000. Luminus Management LLC grew its stake in shares of Entergy by 22.6% in the third quarter. Luminus Management LLC now owns 1,677,086 shares of the utilities provider’s stock valued at $136,062,000 after buying an additional 308,982 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Entergy by 497.0% in the third quarter. Thrivent Financial for Lutherans now owns 918,529 shares of the utilities provider’s stock valued at $74,520,000 after buying an additional 764,672 shares in the last quarter. Institutional investors own 90.87% of the company’s stock.

Several equities analysts recently weighed in on ETR shares. Zacks Investment Research raised shares of Entergy from a “hold” rating to a “strong-buy” rating and set a $99.00 target price for the company in a research note on Thursday, January 3rd. Wells Fargo & Co raised their target price on shares of Entergy from $91.00 to $95.00 and gave the company 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 company a “hold” rating in a research note on Thursday, October 11th. Bank of America raised their target price on shares of Entergy from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, November 1st. Finally, Citigroup lifted their price objective on shares of Entergy from $88.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $89.79.

In other Entergy news, insider Haley Fisackerly sold 4,900 shares of Entergy stock in a transaction on Monday, November 12th. The shares were sold at an average price of $87.00, for a total transaction of $426,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marcus V. Brown sold 28,200 shares of Entergy stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,538,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,460 shares of company stock valued at $10,038,252. Company insiders own 0.25% of the company’s stock.

ETR stock opened at $85.82 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.64 and a quick ratio of 0.49. Entergy Co. has a one year low of $71.95 and a one year high of $90.79. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 2.16 and a beta of 0.39.

Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $3.77 EPS for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.94. Entergy had a net margin of 4.01% and a return on equity of 16.94%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the previous year, the business posted $2.35 earnings per share. As a group, sell-side analysts anticipate that Entergy Co. will post 6.97 earnings per share for the current fiscal year.

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Entergy 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.

Further Reading: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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