Edgestream Partners L.P. Invests $756,000 in Entergy Co. (NYSE:ETR)

Edgestream Partners L.P. acquired a new position in Entergy Co. (NYSE:ETR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,064 shares of the utilities provider’s stock, valued at approximately $756,000.

Several other large investors also recently added to or reduced their stakes in ETR. Tidemark LLC purchased a new stake in shares of Entergy in the 4th quarter valued at about $25,000. Iron Horse Wealth Management LLC bought a new stake in Entergy during the second quarter valued at approximately $25,000. Heritage Wealth Advisors grew its stake in Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares in the last quarter. American National Bank increased its holdings in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after buying an additional 134 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Entergy during the 2nd quarter valued at $32,000. Institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,307,787.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,888 shares of company stock worth $5,110,766. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ETR. Bank of America upped their target price on shares of Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. UBS Group increased their price objective on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company boosted their target price on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley increased their price target on shares of Entergy from $100.00 to $109.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Finally, Scotiabank boosted their price objective on shares of Entergy from $115.00 to $119.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.35.

Entergy Stock Performance

Shares of NYSE:ETR opened at $129.25 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average price of $118.52 and a 200-day moving average price of $110.87. The company has a market cap of $27.60 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth 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 $129.70.

Entergy (NYSE:ETR) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same quarter in the prior year, the company posted $1.84 EPS. As a group, equities analysts anticipate that Entergy Co. will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Tuesday, August 13th. Entergy’s payout ratio is currently 45.34%.

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.