Salomon & Ludwin LLC Has $173,000 Stake in Entergy Co. (NYSE:ETR)

Salomon & Ludwin LLC raised its holdings in Entergy Co. (NYSE:ETR) by 72.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,635 shares of the utilities provider’s stock after buying an additional 685 shares during the period. Salomon & Ludwin LLC’s holdings in Entergy were worth $173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC increased its stake in Entergy by 152.6% in the 1st quarter. Jennison Associates LLC now owns 711,703 shares of the utilities provider’s stock valued at $75,213,000 after buying an additional 430,000 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in Entergy by 1.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 49,897 shares of the utilities provider’s stock valued at $5,273,000 after buying an additional 892 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Entergy by 10.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 20,983 shares of the utilities provider’s stock valued at $2,217,000 after buying an additional 1,994 shares during the last quarter. Quent Capital LLC increased its stake in Entergy by 21.7% in the 1st quarter. Quent Capital LLC now owns 550 shares of the utilities provider’s stock valued at $58,000 after buying an additional 98 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Entergy by 0.7% in the 1st quarter. Nordea Investment Management AB now owns 316,205 shares of the utilities provider’s stock valued at $33,303,000 after buying an additional 2,317 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Entergy

In related news, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the sale, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Entergy news, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the transaction, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Reginald T. Jackson sold 9,229 shares of Entergy 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 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. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Entergy from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. KeyCorp lifted their target price on Entergy from $112.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Barclays raised their price target on Entergy from $107.00 to $116.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Scotiabank decreased their price objective on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, BMO Capital Markets cut their target price on shares of Entergy from $120.00 to $117.00 and set an “outperform” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus price target of $113.50.

Entergy Trading Up 0.2 %

Shares of ETR stock traded up $0.20 during mid-day trading on Tuesday, hitting $104.95. The company’s stock had a trading volume of 1,239,367 shares, compared to its average volume of 1,540,254. The company’s fifty day simple moving average is $108.70 and its 200-day simple moving average is $104.49. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $114.28. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69. The company has a market cap of $22.41 billion, a PE ratio of 10.51, a P/E/G ratio of 1.99 and a beta of 0.71.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a return on equity of 10.20% and a net margin of 17.75%. The business had revenue of $31.17 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the business posted $1.14 earnings per share. The business’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts expect that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

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.