HighTower Advisors LLC Has $1.27 Million Stake in Entergy Co. (NYSE:ETR)

HighTower Advisors LLC lessened its holdings in shares of Entergy Co. (NYSE:ETR) by 5.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 12,760 shares of the utilities provider’s stock after selling 675 shares during the period. HighTower Advisors LLC’s holdings in Entergy were worth $1,270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Maryland State Retirement & Pension System grew its position in Entergy by 372.3% in the first quarter. Maryland State Retirement & Pension System now owns 15,359 shares of the utilities provider’s stock worth $1,528,000 after acquiring an additional 12,107 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Entergy by 56.0% in the 1st quarter. Kestra Advisory Services LLC now owns 9,673 shares of the utilities provider’s stock valued at $962,000 after purchasing an additional 3,471 shares during the last quarter. Cigna Investments Inc. New boosted its holdings in Entergy by 3.8% in the first quarter. Cigna Investments Inc. New now owns 7,217 shares of the utilities provider’s stock worth $718,000 after purchasing an additional 262 shares in the last quarter. MAI Capital Management increased its position in Entergy by 19.2% during the first quarter. MAI Capital Management now owns 4,195 shares of the utilities provider’s stock worth $417,000 after buying an additional 676 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Entergy during the first quarter valued at about $268,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Shares of Entergy stock opened at $108.66 on Friday. Entergy Co. has a 1 year low of $85.78 and a 1 year high of $113.36. The business has a fifty day moving average of $105.66. The firm has a market capitalization of $21.85 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 3.51 and a beta of 0.55. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.81 and a current ratio of 1.06.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Tuesday, April 27th. The utilities provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.30. Entergy had a net margin of 15.41% and a return on equity of 11.30%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the firm earned $1.14 EPS. On average, analysts anticipate that Entergy Co. will post 5.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Thursday, May 6th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Wednesday, May 5th. Entergy’s payout ratio is presently 67.14%.

In related news, COO Paul D. Hinnenkamp sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $107.28, for a total value of $321,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura R. Landreaux sold 1,200 shares of the firm’s stock in a transaction on Friday, May 28th. The stock was sold at an average price of $104.93, for a total value of $125,916.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,041 shares of company stock worth $3,256,149. 0.34% of the stock is owned by company insiders.

A number of research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Entergy from $119.00 to $117.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 18th. Vertical Research upgraded Entergy from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Thursday, April 29th. KeyCorp restated a “sector weight” rating on shares of Entergy in a research note on Monday, March 15th. Mizuho raised their target price on shares of Entergy from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 30th. Finally, Wells Fargo & Company boosted their target price on shares of Entergy from $105.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. Four research analysts have rated the stock with a hold rating and five 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 $116.57.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. The company generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. It operates in two segments, Utility and Entergy Wholesale Commodities.

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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