Brown Brothers Harriman & Co. Buys 4,855 Shares of Entergy Co. (NYSE:ETR)

Brown Brothers Harriman & Co. boosted its stake in Entergy Co. (NYSE:ETR) by 212.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,142 shares of the utilities provider’s stock after acquiring an additional 4,855 shares during the period. Brown Brothers Harriman & Co.’s holdings in Entergy were worth $764,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in shares of Entergy in the fourth quarter valued at approximately $137,000. Dimensional Fund Advisors LP grew its stake in Entergy by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 739,027 shares of the utilities provider’s stock valued at $74,781,000 after acquiring an additional 3,596 shares in the last quarter. Financial Advocates Investment Management purchased a new position in Entergy during the fourth quarter valued at approximately $201,000. Norges Bank purchased a new position in Entergy in the 4th quarter worth approximately $127,675,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Entergy by 123.1% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,869 shares of the utilities provider’s stock worth $594,000 after buying an additional 3,238 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Up 0.5 %

Shares of NYSE:ETR opened at $129.08 on Wednesday. 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 Co. has a 52-week low of $87.10 and a 52-week high of $129.66. The firm has a market capitalization of $27.56 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.31 and a beta of 0.73. The stock has a 50 day moving average price of $117.28 and a 200-day moving average price of $110.37.

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

Entergy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on ETR. BMO Capital Markets boosted their price target on shares of Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Argus raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. KeyCorp raised their price target on Entergy from $123.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $109.50 price objective (down previously from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Finally, Morgan Stanley raised their price target on shares of Entergy from $100.00 to $109.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Entergy has a consensus rating of “Moderate Buy” and an average target price of $125.35.

Insider Buying and Selling at Entergy

In other Entergy news, CEO Andrew S. Marsh sold 19,200 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,140,475.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 19,200 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,140,475.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the sale, the insider now directly owns 5,117 shares in the company, valued at approximately $614,040. 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 owned by corporate insiders.

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.