Thrivent Financial for Lutherans Acquires 102,644 Shares of Entergy Co. (NYSE:ETR)

Thrivent Financial for Lutherans increased its stake in shares of Entergy Co. (NYSE:ETR) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 812,453 shares of the utilities provider’s stock after acquiring an additional 102,644 shares during the quarter. Thrivent Financial for Lutherans owned about 0.38% of Entergy worth $86,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors increased its holdings in shares of Entergy by 64.2% during the 1st 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 during the period. Capital Research Global Investors raised its holdings in Entergy by 22.5% in the 1st quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock valued at $290,963,000 after acquiring an additional 505,705 shares in the last quarter. Boston Partners lifted its position in shares of Entergy by 4.2% in the 1st quarter. Boston Partners now owns 2,259,877 shares of the utilities provider’s stock worth $238,828,000 after acquiring an additional 91,655 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Entergy by 37.5% during the 4th quarter. Point72 Asset Management L.P. now owns 1,643,300 shares of the utilities provider’s stock worth $166,286,000 after purchasing an additional 448,134 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in shares of Entergy by 1.1% during the first quarter. Lord Abbett & CO. LLC now owns 1,411,309 shares of the utilities provider’s stock valued at $149,147,000 after purchasing an additional 16,002 shares during the period. Institutional investors own 88.07% of the company’s stock.

Insider Activity at Entergy

In related news, CEO Andrew S. Marsh sold 3,200 shares of the business’s 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 transaction, the chief executive officer now owns 150,731 shares in the company, valued at $18,307,787.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Andrew S. Marsh sold 19,200 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.35, for a total value of $2,310,720.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,140,475.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew S. Marsh sold 3,200 shares of the firm’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 sale, 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. Insiders have sold 42,888 shares of company stock worth $5,110,766 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

ETR has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on shares of Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Argus raised shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Mizuho boosted their target price on shares of Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Guggenheim increased their price target on shares of Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Entergy has a consensus rating of “Moderate Buy” and a consensus target price of $127.35.

Entergy Price Performance

Shares of ETR stock opened at $129.25 on Friday. The firm’s 50 day moving average price is $118.52 and its two-hundred day moving average price is $110.87. The stock has a market cap of $27.60 billion, a PE ratio of 12.96, a PEG ratio of 2.31 and a beta of 0.73. Entergy Co. has a 52-week low of $87.10 and a 52-week high of $129.70. 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 announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period in the previous year, the firm earned $1.84 earnings per share. As a group, analysts forecast that Entergy Co. will post 7.22 EPS for the current year.

Entergy Announces Dividend

The business also recently declared 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 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 (DPR) is presently 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.