Norden Group LLC Invests $3.30 Million in Entergy Co. (NYSE:ETR)

Norden Group LLC purchased a new position in Entergy Co. (NYSE:ETR) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 31,200 shares of the utilities provider’s stock, valued at approximately $3,298,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Entergy in the fourth quarter worth approximately $127,675,000. Confluence Investment Management LLC purchased a new position in shares of Entergy in the 1st quarter valued at $92,257,000. Franklin Resources Inc. increased its holdings in Entergy by 25.2% in the 4th quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock valued at $400,901,000 after purchasing an additional 796,316 shares in the last quarter. ClearBridge Investments Ltd lifted its stake in shares of Entergy by 29.3% during the fourth quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock worth $315,254,000 after purchasing an additional 706,059 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Entergy by 220.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 685,186 shares of the utilities provider’s stock valued at $69,334,000 after buying an additional 471,291 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ETR. Mizuho upped their target price on shares of Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Morgan Stanley dropped their target price on Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. BMO Capital Markets increased their price target on Entergy from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Barclays lifted their price objective on Entergy from $107.00 to $116.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Finally, KeyCorp increased their target price on Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.73.

Insider Activity

In related news, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total transaction of $165,345.00. Following the sale, the insider now directly owns 2,479 shares in the company, valued at $273,260.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Entergy Trading Down 0.3 %

NYSE ETR opened at $105.56 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69. Entergy Co. has a one year low of $87.10 and a one year high of $114.28. The company has a 50-day simple moving average of $108.83 and a 200-day simple moving average of $104.35. The firm has a market capitalization of $22.54 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 2.00 and a beta of 0.71.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The company had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. Entergy had a net margin of 17.75% and a return on equity of 10.20%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, equities analysts forecast that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date was Wednesday, May 1st. Entergy’s payout ratio is 45.34%.

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.