Exchange Traded Concepts LLC Invests $1.10 Million in Entergy Co. (NYSE:ETR)

Exchange Traded Concepts LLC bought a new stake in shares of Entergy Co. (NYSE:ETR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,368 shares of the utilities provider’s stock, valued at approximately $1,101,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Entergy by 12.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after buying an additional 763,834 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in 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 acquiring an additional 2,075,776 shares during the last quarter. Capital International Investors lifted its stake in Entergy by 64.2% in 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 in the last quarter. ClearBridge Investments Ltd boosted its holdings in shares of Entergy by 0.6% during the 2nd quarter. ClearBridge Investments Ltd now owns 3,137,110 shares of the utilities provider’s stock valued at $335,671,000 after purchasing an additional 20,025 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of Entergy by 22.5% during the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock valued at $290,963,000 after purchasing an additional 505,705 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Eliecer Viamontes sold 5,166 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $619,920.00. Following the transaction, the insider now owns 5,117 shares of the company’s stock, valued at approximately $614,040. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Eliecer Viamontes sold 5,166 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were 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 owns 5,117 shares in the company, valued at approximately $614,040. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,810 shares of company stock worth $6,140,626 in the last ninety days. 0.39% of the stock is owned by company insiders.

Entergy Stock Performance

Shares of Entergy stock opened at $134.32 on Thursday. Entergy Co. has a 52 week low of $90.78 and a 52 week high of $134.63. The company has a market capitalization of $28.68 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74. The stock’s fifty day moving average is $124.96 and its two-hundred day moving average is $114.40. 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 posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.76 by $0.16. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same quarter last year, the firm posted $1.84 EPS. As a group, analysts expect that Entergy Co. will post 7.22 earnings per share for the current 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 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 yield of 3.37%. Entergy’s dividend payout ratio (DPR) is currently 45.34%.

Analyst Ratings Changes

ETR has been the subject of a number of research reports. Royal Bank of Canada increased their price target on Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday. Guggenheim increased their target price on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. KeyCorp boosted their price target on shares of Entergy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley boosted their target price on shares of Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.96.

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.