Gateway Investment Advisers LLC lifted its position in Entergy Co. (NYSE:ETR – Get Rating) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,780 shares of the utilities provider's stock after acquiring an additional 144 shares during the quarter. Gateway Investment Advisers LLC's holdings in Entergy were worth $313,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Wetherby Asset Management Inc. grew its position in shares of Entergy by 2.7% in the 1st quarter. Wetherby Asset Management Inc. now owns 3,269 shares of the utilities provider's stock worth $382,000 after acquiring an additional 87 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Entergy by 15.5% in the 1st quarter. Parkside Financial Bank & Trust now owns 739 shares of the utilities provider's stock worth $86,000 after acquiring an additional 99 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Entergy by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the utilities provider's stock worth $1,598,000 after acquiring an additional 100 shares in the last quarter. Prospera Financial Services Inc grew its position in shares of Entergy by 4.8% in the 1st quarter. Prospera Financial Services Inc now owns 2,217 shares of the utilities provider's stock worth $259,000 after acquiring an additional 101 shares in the last quarter. Finally, Lido Advisors LLC boosted its position in Entergy by 5.8% during the 1st quarter. Lido Advisors LLC now owns 2,077 shares of the utilities provider's stock valued at $242,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 90.53% of the company's stock.
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ETR opened at $111.59 on Friday. Entergy Co. has a one year low of $98.50 and a one year high of $126.82. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.64 and a current ratio of 0.87. The stock's fifty day moving average is $116.51 and its 200-day moving average is $115.97. The company has a market capitalization of $22.70 billion, a PE ratio of 18.44, a P/E/G ratio of 2.63 and a beta of 0.57.
Entergy (NYSE:ETR – Get Rating) last announced its earnings results on Wednesday, August 3rd. The utilities provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.36. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $2.89 billion. Entergy had a return on equity of 11.07% and a net margin of 9.92%. During the same period in the previous year, the firm earned $1.34 earnings per share. On average, equities analysts predict that Entergy Co. will post 6.38 EPS for the current fiscal year.Entergy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.62%. Entergy's dividend payout ratio is 66.78%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on ETR shares. Wells Fargo & Company boosted their price objective on Entergy from $125.00 to $138.00 and gave the company an "overweight" rating in a research report on Thursday, August 4th. BMO Capital Markets boosted their price objective on Entergy from $124.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, August 4th. Credit Suisse Group reduced their price target on Entergy from $136.00 to $114.00 and set an "outperform" rating for the company in a research report on Tuesday, June 21st. Mizuho reduced their price target on Entergy from $127.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, June 29th. Finally, Morgan Stanley boosted their price target on Entergy from $106.00 to $115.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $125.43.
About Entergy
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Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.
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