Entergy Co. (NYSE:ETR) Position Boosted by Amalgamated Bank

Amalgamated Bank boosted its position in Entergy Co. (NYSE:ETR) by 34.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,917 shares of the utilities provider’s stock after buying an additional 15,150 shares during the quarter. Amalgamated Bank’s holdings in Entergy were worth $6,304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETR. Tidemark LLC bought a new stake in shares of Entergy in the 4th quarter valued at approximately $25,000. Iron Horse Wealth Management LLC acquired a new position in Entergy in the second quarter worth $25,000. Heritage Wealth Advisors increased its stake in Entergy by 2,172.7% during the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares during the last quarter. American National Bank raised its holdings in shares of Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 134 shares during the period. Finally, TruNorth Capital Management LLC bought a new position in shares of Entergy in the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Price Performance

Shares of NYSE:ETR opened at $127.68 on Friday. The stock’s 50 day moving average price is $118.12 and its 200 day moving average price is $110.62. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. The stock has a market cap of $27.26 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.31 and a beta of 0.73. Entergy Co. has a 12 month low of $87.10 and a 12 month high of $129.66.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the firm posted $1.84 earnings per share. Equities research analysts anticipate that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were paid a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 annualized dividend and a dividend yield of 3.54%. Entergy’s dividend payout ratio is currently 45.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $109.50 price objective (down previously from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Wells Fargo & Company upped their target price on Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Bank of America raised their price target on Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. BMO Capital Markets upped their price objective on Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Barclays upgraded Entergy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $115.00 to $138.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $125.35.

Insider Transactions at Entergy

In related news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,092,241.93. The disclosure for this sale can be found here. Insiders have sold 42,888 shares of company stock valued at $5,110,766 in the last quarter. Insiders own 0.39% of the company’s stock.

Entergy Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.