7,649 Shares in Entergy Co. (NYSE:ETR) Bought by Seven Eight Capital LP

Seven Eight Capital LP purchased a new stake in shares of Entergy Co. (NYSE:ETR) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 7,649 shares of the utilities provider’s stock, valued at approximately $818,000.

A number of other large investors have also added to or reduced their stakes in ETR. Tidemark LLC purchased a new stake in Entergy in the 4th quarter worth approximately $25,000. Iron Horse Wealth Management LLC purchased a new stake in Entergy in the second quarter worth $25,000. Heritage Wealth Advisors boosted its holdings 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 acquiring an additional 239 shares in the last quarter. American National Bank increased its position in Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 134 shares during the period. Finally, TruNorth Capital Management LLC bought a new position in Entergy in the 2nd quarter worth $32,000. Institutional investors own 88.07% of the company’s stock.

Insider Activity at Entergy

In other news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the transaction, the insider now owns 5,117 shares in the company, valued at $614,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Eliecer Viamontes sold 5,166 shares of Entergy stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the sale, the insider now directly owns 5,117 shares in the company, valued at approximately $614,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew S. Marsh sold 3,200 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $18,307,787.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,888 shares of company stock valued at $5,110,766. 0.39% of the stock is owned by corporate insiders.

Entergy Price Performance

Shares of NYSE:ETR opened at $129.25 on Friday. The business has a fifty day moving average price of $118.52 and a 200-day moving average price of $110.87. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. The company has a market capitalization 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 1-year low of $87.10 and a 1-year high of $129.70.

Entergy (NYSE:ETR) last released 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. The business 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 analysts expect that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on ETR. KeyCorp lifted their target price on shares of Entergy from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Scotiabank upped their target price on Entergy from $115.00 to $119.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their target price on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays upgraded Entergy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $115.00 to $138.00 in a research report on Tuesday, September 17th. Finally, UBS Group increased their price objective on Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and a consensus price target of $127.35.

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.