Entergy Co. (NYSE:ETR) Holdings Boosted by ClearBridge Investments Ltd

ClearBridge Investments Ltd grew its stake in Entergy Co. (NYSE:ETR) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,137,110 shares of the utilities provider’s stock after acquiring an additional 20,025 shares during the quarter. Entergy comprises approximately 9.8% of ClearBridge Investments Ltd’s investment portfolio, making the stock its biggest position. ClearBridge Investments Ltd owned about 1.47% of Entergy worth $335,671,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Iron Horse Wealth Management LLC purchased a new position in Entergy in the second quarter worth approximately $25,000. Heritage Wealth Advisors lifted its position in Entergy by 2,172.7% in 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 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 buying an additional 134 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of Entergy during the second quarter valued at about $32,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Entergy in the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of several research reports. KeyCorp lifted their target price on shares of Entergy from $123.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their price objective on Entergy from $125.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Argus raised Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Morgan Stanley boosted their price target on shares of Entergy from $100.00 to $109.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Finally, Bank of America raised their price objective on shares of Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One 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 company’s stock. According to MarketBeat, Entergy currently has an average rating of “Moderate Buy” and a consensus price target of $127.35.

Insider Activity at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the firm’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 sale, 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 SEC, which can be accessed through the SEC website. In related news, COO Peter S. Norgeot, Jr. sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $122.56, for a total transaction of $398,320.00. Following the transaction, the chief operating officer now owns 34,993 shares in the company, valued at approximately $4,288,742.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $388,672.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The disclosure for this sale can be found here. Insiders sold 42,888 shares of company stock valued at $5,110,766 over the last three months. 0.39% of the stock is owned by corporate insiders.

Entergy Trading Up 1.2 %

NYSE ETR opened at $129.25 on Monday. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $129.70. The firm has a 50 day moving average of $118.52 and a two-hundred day moving average of $110.93. The stock has a market capitalization of $27.60 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 2.31 and a beta of 0.73. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping 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 firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. As a group, research analysts expect that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

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

About Entergy

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.