QRG Capital Management Inc. Boosts Holdings in Entergy Co. (NYSE:ETR)

QRG Capital Management Inc. raised its position in Entergy Co. (NYSE:ETR) by 663.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 71,070 shares of the utilities provider’s stock after purchasing an additional 61,755 shares during the period. QRG Capital Management Inc.’s holdings in Entergy were worth $7,604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tidemark LLC acquired a new position in Entergy in the 4th quarter valued at about $25,000. Heritage Wealth Advisors lifted its holdings in shares of Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 239 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Entergy during the 4th quarter worth approximately $35,000. Newbridge Financial Services Group Inc. increased its holdings 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 purchasing an additional 110 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Entergy by 134.3% in the first quarter. Venturi Wealth Management LLC now owns 396 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 227 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Performance

NYSE ETR traded up $0.31 during trading hours on Friday, hitting $117.53. The company had a trading volume of 1,148,311 shares, compared to its average volume of 1,528,779. The business has a 50 day moving average of $109.88 and a 200-day moving average of $106.33. The company has a market cap of $25.10 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. Entergy Co. has a 1-year low of $87.10 and a 1-year high of $123.61. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.45 and a current ratio of 0.94.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the company earned $1.84 earnings per share. As a group, equities research analysts expect that Entergy Co. will post 7.21 EPS for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, August 13th. Entergy’s dividend payout ratio is currently 45.34%.

Insider Activity at Entergy

In other Entergy news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares of the company’s stock, valued at $4,363,182.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Andrew S. Marsh sold 3,200 shares of Entergy stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $121.46, for a total transaction of $388,672.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,307,787.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the transaction, the chief operating officer now directly owns 37,888 shares in the company, valued at approximately $4,363,182.08. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ETR. Barclays lowered their price target on Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Guggenheim lifted their price objective on shares of Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Morgan Stanley dropped their price target on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. BMO Capital Markets increased their price objective on Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Mizuho boosted their target price on Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.19.

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.