New England Asset Management Inc. decreased its position in shares of Entergy Co. (NYSE:ETR) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,805 shares of the utilities provider’s stock after selling 300 shares during the period. New England Asset Management Inc.’s holdings in Entergy were worth $3,274,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coastal Investment Advisors Inc. increased its holdings in shares of Entergy by 142.0% in the second quarter. Coastal Investment Advisors Inc. now owns 2,125 shares of the utilities provider’s stock valued at $219,000 after purchasing an additional 1,247 shares in the last quarter. Lantz Financial LLC increased its holdings in shares of Entergy by 1.8% in the second quarter. Lantz Financial LLC now owns 13,480 shares of the utilities provider’s stock valued at $1,398,000 after purchasing an additional 239 shares in the last quarter. 6 Meridian increased its holdings in shares of Entergy by 1.9% in the second quarter. 6 Meridian now owns 5,606 shares of the utilities provider’s stock valued at $577,000 after purchasing an additional 104 shares in the last quarter. Bluescape Energy Partners LLC acquired a new stake in shares of Entergy in the second quarter valued at approximately $26,176,000. Finally, Greenleaf Trust acquired a new stake in shares of Entergy in the first quarter valued at approximately $209,000. 86.23% of the stock is owned by institutional investors.
A number of analysts recently weighed in on ETR shares. JPMorgan Chase & Co. raised shares of Entergy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $105.00 to $116.00 in a report on Monday, September 9th. UBS Group set a $115.00 price target on shares of Entergy and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Morgan Stanley lowered shares of Entergy from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $114.00 to $115.00 in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Entergy has an average rating of “Buy” and an average price target of $103.33.
ETR traded up $0.13 during trading on Friday, hitting $115.21. The company had a trading volume of 4,088,645 shares, compared to its average volume of 1,148,124. The company has a market capitalization of $22.80 billion, a PE ratio of 15.76, a PEG ratio of 3.11 and a beta of 0.29. Entergy Co. has a one year low of $78.99 and a one year high of $116.57. The firm’s 50-day moving average price is $110.88 and its 200 day moving average price is $101.51. The company has a quick ratio of 0.52, a current ratio of 0.73 and a debt-to-equity ratio of 1.76.
Entergy (NYSE:ETR) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.03). Entergy had a net margin of 8.97% and a return on equity of 13.75%. The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the firm posted $1.42 earnings per share. Sell-side analysts forecast that Entergy Co. will post 5.27 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 8th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 7th. This represents a $3.64 annualized dividend and a dividend yield of 3.16%. Entergy’s dividend payout ratio is presently 49.79%.
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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