Magnetar Financial LLC Acquires 2,218 Shares of Entergy Co. (NYSE:ETR)

Magnetar Financial LLC increased its holdings in shares of Entergy Co. (NYSE:ETR) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,848 shares of the utilities provider’s stock after purchasing an additional 2,218 shares during the quarter. Magnetar Financial LLC’s holdings in Entergy were worth $4,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Iron Horse Wealth Management LLC purchased a new stake in Entergy in the second quarter worth approximately $25,000. Heritage Wealth Advisors increased its holdings 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 buying an additional 239 shares during the last quarter. American National Bank boosted its stake in shares of Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in shares of Entergy during the 2nd quarter valued at $32,000. Finally, Rothschild Investment LLC bought a new position in Entergy in the 2nd quarter worth $34,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Entergy Price Performance

Shares of Entergy stock opened at $129.25 on Monday. The stock has a 50 day moving average price of $118.52 and a 200-day moving average price of $110.93. Entergy Co. has a one year low of $87.10 and a one year high of $129.70. The stock 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. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94.

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

Entergy Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group upped their price target on Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday. Barclays upgraded shares of Entergy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $115.00 to $138.00 in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased their price objective on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Wells Fargo & Company raised their price target on Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Argus upgraded Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.35.

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.