Entergy Co. (NYSE:ETR) Shares Sold by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC trimmed its holdings in Entergy Co. (NYSE:ETR) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 128,863 shares of the utilities provider’s stock after selling 932 shares during the period. Wedge Capital Management L L P NC’s holdings in Entergy were worth $13,264,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of ETR. Janus Henderson Group PLC lifted its stake in shares of Entergy by 112.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,485,881 shares of the utilities provider’s stock valued at $142,095,000 after purchasing an additional 786,788 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Entergy by 89.4% in the 1st quarter. Jennison Associates LLC now owns 1,367,253 shares of the utilities provider’s stock valued at $130,750,000 after purchasing an additional 645,300 shares in the last quarter. FMR LLC lifted its stake in shares of Entergy by 13.5% in the 1st quarter. FMR LLC now owns 3,784,148 shares of the utilities provider’s stock valued at $361,878,000 after purchasing an additional 448,737 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Entergy by 191.9% in the 2nd quarter. First Trust Advisors LP now owns 661,070 shares of the utilities provider’s stock valued at $68,044,000 after purchasing an additional 434,583 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in shares of Entergy by 36.2% in the 1st quarter. Pictet Asset Management Ltd. now owns 1,601,350 shares of the utilities provider’s stock valued at $153,137,000 after purchasing an additional 425,288 shares in the last quarter. 87.82% of the stock is currently owned by hedge funds and other institutional investors.
ETR has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on Entergy from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. UBS Group set a $115.00 price objective on Entergy and gave the company a “buy” rating in a research note on Monday, July 15th. ValuEngine raised Entergy from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Macquarie set a $100.00 price objective on Entergy and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Zacks Investment Research lowered Entergy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $99.22.
Entergy (NYSE:ETR) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.03). The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a net margin of 8.97% and a return on equity of 13.75%. During the same quarter in the previous year, the business posted $1.42 earnings per share. On average, equities analysts expect that Entergy Co. will post 5.27 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 8th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $3.64 annualized dividend and a dividend yield of 3.35%. Entergy’s payout ratio is currently 49.79%.
In related news, insider Phillip R. May, Jr. sold 8,600 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $98.00, for a total transaction of $842,800.00. Following the sale, the insider now directly owns 16,471 shares in the company, valued at approximately $1,614,158. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Marcus V. Brown sold 21,443 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $98.00, for a total value of $2,101,414.00. Following the sale, the executive vice president now owns 39,477 shares in the company, valued at $3,868,746. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,041 shares of company stock worth $11,366,147. Company insiders own 0.27% of the company’s stock.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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