Quarry LP Raises Stock Holdings in Entergy Co. (NYSE:ETR)

Quarry LP lifted its holdings in shares of Entergy Co. (NYSE:ETR) by 242.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,286 shares of the utilities provider’s stock after purchasing an additional 911 shares during the quarter. Quarry LP’s holdings in Entergy were worth $138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ETR. Ameriprise Financial Inc. grew its holdings in shares of Entergy by 47.1% during the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock worth $693,260,000 after purchasing an additional 2,075,776 shares in the last quarter. Capital International Investors grew its holdings in shares of Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock worth $440,690,000 after purchasing an additional 1,630,057 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Entergy by 185.5% during the second quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider’s stock worth $200,804,000 after purchasing an additional 1,219,419 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of Entergy during the first quarter worth about $92,257,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Entergy by 12.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock worth $741,135,000 after purchasing an additional 763,834 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Activity at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction 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 sale, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at $4,363,182.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at $4,549,090. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 37,888 shares in the company, valued at $4,363,182.08. The disclosure for this sale can be found here. Insiders sold a total of 50,810 shares of company stock worth $6,140,626 over the last quarter. 0.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on ETR shares. Barclays raised Entergy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $115.00 to $138.00 in a research note on Tuesday, September 17th. Wells Fargo & Company upped their target price on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Guggenheim upped their target price on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. BMO Capital Markets upped their target price on Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, KeyCorp upped their target price on Entergy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $128.58.

Entergy Price Performance

Shares of Entergy stock opened at $131.61 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The company has a market cap of $28.10 billion, a PE ratio of 13.20, a P/E/G ratio of 2.46 and a beta of 0.73. The business has a 50 day moving average of $121.00 and a 200 day moving average of $112.09. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $131.75.

Entergy (NYSE:ETR) last announced its 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 company had revenue of $2.95 billion during the quarter, compared to the consensus estimate 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 earned $1.84 earnings per share. As a group, equities research analysts forecast that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.43%. Entergy’s dividend payout ratio is presently 45.34%.

Entergy Company 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.