MQS Management LLC Lowers Holdings in Entergy Co. (NYSE:ETR)

MQS Management LLC reduced its position in shares of Entergy Co. (NYSE:ETR) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,998 shares of the utilities provider’s stock after selling 185 shares during the quarter. MQS Management LLC’s holdings in Entergy were worth $423,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Tidemark LLC purchased a new position in Entergy in the 4th quarter valued at about $25,000. Heritage Wealth Advisors lifted its stake in Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after buying an additional 239 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Entergy in the 4th quarter valued at about $35,000. Newbridge Financial Services Group Inc. lifted its stake in Entergy by 40.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock valued at $41,000 after buying an additional 110 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Entergy by 134.3% in the 1st quarter. Venturi Wealth Management LLC now owns 396 shares of the utilities provider’s stock valued at $42,000 after buying an additional 227 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Trading Down 0.4 %

Shares of ETR stock traded down $0.44 during trading on Thursday, hitting $111.42. 1,381,536 shares of the stock traded hands, compared to its average volume of 1,507,798. The firm has a market capitalization of $23.79 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 2.09 and a beta of 0.71. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45. The firm’s fifty day moving average price is $108.47 and its 200-day moving average price is $105.14. Entergy Co. has a 52-week low of $87.10 and a 52-week high of $114.28.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on ETR. Morgan Stanley decreased their price target on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. Wells Fargo & Company raised their target price 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. Scotiabank decreased their target price on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets decreased their target price on shares of Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, Barclays decreased their target price on shares of Entergy from $116.00 to $115.00 and set an “equal weight” rating on the stock 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 assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.42.

Insider Buying and Selling at Entergy

In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at $235,465.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Entergy news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the transaction, the insider now owns 2,479 shares in the company, valued at $273,260.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction on Monday, May 6th. The stock was 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. 0.39% of the stock is owned by corporate insiders.

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.