Crow Point Partners LLC lifted its holdings in shares of Entergy Co. (NYSE:ETR) by 182.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,000 shares of the utilities provider’s stock after purchasing an additional 210,000 shares during the quarter. Entergy accounts for about 5.6% of Crow Point Partners LLC’s portfolio, making the stock its 2nd biggest position. Crow Point Partners LLC owned about 0.16% of Entergy worth $38,188,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in shares of Entergy by 151.0% during the second quarter. Captrust Financial Advisors now owns 261 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 157 shares during the period. Coastal Capital Group Inc. acquired a new stake in shares of Entergy during the second quarter worth about $37,000. Meeder Asset Management Inc. raised its position in Entergy by 1,469.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 361 shares of the utilities provider’s stock valued at $37,000 after buying an additional 338 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in Entergy in the 2nd quarter valued at approximately $45,000. Finally, Parkside Financial Bank & Trust raised its position in Entergy by 391.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 472 shares of the utilities provider’s stock valued at $49,000 after buying an additional 376 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.
Entergy stock traded up $0.44 during midday trading on Wednesday, reaching $118.06. The stock had a trading volume of 891,200 shares, compared to its average volume of 1,461,673. The firm’s fifty day simple moving average is $114.51 and its 200-day simple moving average is $103.75. Entergy Co. has a 1-year low of $80.04 and a 1-year high of $118.86. The stock has a market capitalization of $23.42 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 3.22 and a beta of 0.29. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.52 and a current ratio of 0.73.
Entergy (NYSE:ETR) last announced 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). The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.98 billion. Entergy had a net margin of 8.97% and a return on equity of 13.75%. During the same period in the prior year, the business posted $1.42 EPS. On average, sell-side analysts anticipate that Entergy Co. will post 5.27 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on ETR. Citigroup lifted their target price on Entergy from $109.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. They noted that the move was a valuation call. JPMorgan Chase & Co. raised Entergy from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $105.00 to $116.00 in a research report on Monday, September 9th. UBS Group set a $115.00 target price on Entergy and gave the company a “buy” rating in a research report on Monday, July 15th. Morgan Stanley lifted their target price on Entergy from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, ValuEngine lowered Entergy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Entergy has a consensus rating of “Buy” and an average target price of $108.44.
In other Entergy news, EVP Marcus V. Brown sold 21,445 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 value of $2,358,950.00. Following the completion of the transaction, the executive vice president now directly owns 38,411 shares in the company, valued at $4,225,210. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP A. Christopher Bakken III sold 6,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $64.84, for a total value of $437,670.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,156 shares of company stock valued at $6,188,830. Corporate insiders own 0.27% of the company’s stock.
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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