Gateway Investment Advisers LLC Makes New $208,000 Investment in Entergy Co. (NYSE:ETR)

Gateway Investment Advisers LLC bought a new stake in Entergy Co. (NYSE:ETR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,578 shares of the utilities provider’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC raised its stake in 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 acquiring an additional 763,834 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Entergy by 47.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock valued at $693,260,000 after purchasing an additional 2,075,776 shares during the last quarter. Capital International Investors increased its position 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 buying an additional 1,630,057 shares during the period. ClearBridge Investments Ltd boosted its position in Entergy by 0.6% during the second quarter. ClearBridge Investments Ltd now owns 3,137,110 shares of the utilities provider’s stock valued at $335,671,000 after acquiring an additional 20,025 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in Entergy by 22.5% during the 1st quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock worth $290,963,000 after acquiring an additional 505,705 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Up 1.0 %

Shares of NYSE ETR opened at $132.00 on Tuesday. The company has a market cap of $28.19 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 2.46 and a beta of 0.74. 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 firm’s fifty day moving average is $124.27 and its 200 day moving average is $114.06. Entergy Co. has a 52 week low of $90.78 and a 52 week high of $133.38.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same quarter in the previous year, the company earned $1.84 earnings per share. On average, equities research analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were given 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 3.42%. Entergy’s dividend payout ratio is currently 45.34%.

Insider Activity

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction on Monday, September 23rd. The shares were 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 owns 34,993 shares in the company, valued at $4,549,090. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,549,090. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew S. Marsh sold 3,200 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,307,787.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,810 shares of company stock valued at $6,140,626. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ETR. Wells Fargo & Company raised 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. Bank of America increased their target price on shares of Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Royal Bank of Canada boosted their target price on Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday. Argus upgraded Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets boosted their price target on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.27.

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.