Bessemer Group Inc. Has $411,000 Stake in Entergy Corporation (ETR)
Bessemer Group Inc. boosted its position in Entergy Corporation (NYSE:ETR) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,360 shares of the utilities provider’s stock after buying an additional 103 shares during the period. Bessemer Group Inc.’s holdings in Entergy Corporation were worth $411,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Entergy Corporation by 46.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock worth $100,000 after buying an additional 410 shares in the last quarter. V Wealth Management LLC purchased a new position in shares of Entergy Corporation during the second quarter worth $106,000. Advisory Services Network LLC bought a new stake in Entergy Corporation during the first quarter worth approximately $174,000. Parallel Advisors LLC boosted its stake in Entergy Corporation by 291.6% in the first quarter. Parallel Advisors LLC now owns 2,377 shares of the utilities provider’s stock worth $182,000 after buying an additional 1,770 shares during the last quarter. Finally, Paragon Capital Management Ltd bought a new stake in Entergy Corporation during the first quarter worth approximately $203,000. 82.53% of the stock is owned by institutional investors and hedge funds.
Entergy Corporation (ETR) opened at 77.84 on Monday. The firm’s market capitalization is $13.97 billion. The stock’s 50 day moving average is $76.40 and its 200-day moving average is $76.13. Entergy Corporation has a one year low of $66.71 and a one year high of $81.83.
Entergy Corporation (NYSE:ETR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $1.91. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.44 billion. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. During the same period in the prior year, the firm earned $3.16 EPS. On average, analysts anticipate that Entergy Corporation will post $6.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, August 8th. Entergy Corporation’s dividend payout ratio is presently -69.74%.
ETR has been the subject of a number of research reports. TheStreet upgraded shares of Entergy Corporation from a “c+” rating to a “b-” rating in a report on Thursday, April 27th. ValuEngine upgraded shares of Entergy Corporation from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Barclays PLC restated an “equal weight” rating and issued a $78.00 price target (up from $74.00) on shares of Entergy Corporation in a report on Sunday, April 23rd. BMO Capital Markets restated a “hold” rating and issued a $78.00 price target on shares of Entergy Corporation in a report on Friday, August 4th. Finally, BidaskClub upgraded shares of Entergy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Entergy Corporation has a consensus rating of “Hold” and an average target price of $78.77.
In other news, Director Alexis M. Herman sold 995 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $76.38, for a total value of $75,998.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sallie T. Rainer sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $77.78, for a total transaction of $77,780.00. The disclosure for this sale can be found here. Insiders sold a total of 2,495 shares of company stock worth $192,363 over the last ninety days. Insiders own 0.24% of the company’s stock.
About Entergy Corporation
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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