Entergy Co. (NYSE:ETR) Shares Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP increased its stake in Entergy Co. (NYSE:ETR) by 122.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 6,887 shares of the utilities provider’s stock after purchasing an additional 3,785 shares during the quarter. Dark Forest Capital Management LP’s holdings in Entergy were worth $737,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ETR. Ameriprise Financial Inc. boosted 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 worth $693,260,000 after acquiring an additional 2,075,776 shares during the period. Capital International Investors grew its holdings in Entergy by 64.2% during the 1st quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after purchasing an additional 1,630,057 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in Entergy during the 1st quarter worth $92,257,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Entergy by 12.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock worth $741,135,000 after buying an additional 763,834 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Entergy by 89.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider’s stock valued at $114,876,000 after buying an additional 506,239 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ETR. Guggenheim lifted their target price on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BMO Capital Markets upped their target price on Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company raised their price target on shares of Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays upgraded shares of Entergy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $115.00 to $138.00 in a research note on Tuesday, September 17th. Finally, KeyCorp increased their price objective 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. One equities research 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. Based on data from MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.81.

Insider Buying and Selling at Entergy

In other Entergy news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Peter S. Norgeot, Jr. sold 7,922 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total value of $1,029,860.00. Following the completion of the transaction, the chief operating officer now owns 34,993 shares of the company’s stock, valued at $4,549,090. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of Entergy stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $122.56, for a total transaction of $398,320.00. Following the sale, the chief operating officer now owns 34,993 shares in the company, valued at $4,288,742.08. The disclosure for this sale can be found here. Insiders sold 50,810 shares of company stock valued at $6,140,626 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Entergy Stock Performance

Shares of ETR stock opened at $129.58 on Friday. 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 business has a 50 day moving average of $119.80 and a two-hundred day moving average of $111.44. The company has a market cap of $27.67 billion, a P/E ratio of 13.00, a PEG ratio of 2.46 and a beta of 0.73. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $131.03.

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. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the firm posted $1.84 EPS. As a group, analysts anticipate that Entergy Co. will post 7.22 EPS 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 issued 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 3.49%. Entergy’s dividend payout ratio (DPR) is presently 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.