QUANTRES ASSET MANAGEMENT Ltd Has $684,000 Stake in Entergy Co. (ETR)
QUANTRES ASSET MANAGEMENT Ltd increased its holdings in shares of Entergy Co. (NYSE:ETR) by 61.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,400 shares of the utilities provider’s stock after purchasing an additional 3,200 shares during the period. QUANTRES ASSET MANAGEMENT Ltd’s holdings in Entergy were worth $684,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ETR. Franklin Resources Inc. grew its stake in Entergy by 43.9% during the second quarter. Franklin Resources Inc. now owns 1,888,643 shares of the utilities provider’s stock worth $144,991,000 after purchasing an additional 576,426 shares during the period. AJO LP grew its stake in Entergy by 16.0% during the second quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock worth $270,119,000 after purchasing an additional 485,602 shares during the period. Parametric Portfolio Associates LLC grew its stake in Entergy by 71.1% during the second quarter. Parametric Portfolio Associates LLC now owns 973,379 shares of the utilities provider’s stock worth $74,726,000 after purchasing an additional 404,399 shares during the period. Principal Financial Group Inc. grew its stake in Entergy by 27.7% during the third quarter. Principal Financial Group Inc. now owns 1,152,906 shares of the utilities provider’s stock worth $88,036,000 after purchasing an additional 250,267 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Entergy by 283.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 326,226 shares of the utilities provider’s stock worth $25,015,000 after purchasing an additional 241,100 shares during the period. 82.81% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Marcus V. Brown sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $82.00, for a total value of $123,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Haley Fisackerly sold 4,800 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $87.00, for a total value of $417,600.00. Following the completion of the transaction, the insider now owns 5,276 shares in the company, valued at approximately $459,012. The disclosure for this sale can be found here. Insiders sold 57,812 shares of company stock valued at $4,907,522 in the last three months. Insiders own 0.24% of the company’s stock.
Entergy (NYSE:ETR) last announced its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $2.35 EPS for the quarter, beating the Zacks’ consensus estimate of $2.24 by $0.11. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the firm posted $2.31 earnings per share. equities research analysts expect that Entergy Co. will post 6.91 EPS for the current fiscal year.
ETR has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Entergy from $82.00 to $84.00 and gave the stock an “underweight” rating in a research note on Friday, September 8th. JPMorgan Chase & Co. raised their target price on Entergy from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Citigroup raised Entergy from a “neutral” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Friday, October 13th. Jefferies Group raised Entergy from a “hold” rating to a “buy” rating in a research note on Monday, October 16th. Finally, Bank of America initiated coverage on Entergy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $86.00 target price for the company. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $84.54.
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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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