Bleakley Financial Group LLC Reduces Stock Position in Entergy Corporation $ETR

Bleakley Financial Group LLC lessened its position in shares of Entergy Corporation (NYSE:ETR) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,730 shares of the utilities provider’s stock after selling 1,362 shares during the quarter. Bleakley Financial Group LLC’s holdings in Entergy were worth $1,723,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ETR. Vanguard Group Inc. boosted its stake in shares of Entergy by 5.2% in the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider’s stock worth $4,687,331,000 after buying an additional 2,695,348 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Entergy by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider’s stock worth $1,126,244,000 after buying an additional 289,468 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Entergy by 3.4% in the first quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider’s stock worth $370,488,000 after buying an additional 143,187 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Entergy by 12.6% in the second quarter. TD Asset Management Inc now owns 3,442,042 shares of the utilities provider’s stock worth $286,103,000 after buying an additional 386,344 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Entergy by 15.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,326,466 shares of the utilities provider’s stock worth $284,380,000 after buying an additional 454,059 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the transaction, the insider owned 3,318 shares of the company’s stock, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ETR shares. Scotiabank set a $105.00 target price on Entergy and gave the stock an “outperform” rating in a research note on Friday, October 3rd. KeyCorp restated an “overweight” rating and issued a $106.00 target price (up previously from $96.00) on shares of Entergy in a research note on Wednesday, October 15th. BTIG Research upgraded Entergy to a “strong-buy” rating in a research note on Wednesday. Jefferies Financial Group began coverage on Entergy in a research note on Thursday, September 4th. They issued a “buy” rating and a $109.00 target price on the stock. Finally, Morgan Stanley set a $93.00 price target on Entergy and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Entergy Stock Performance

Shares of ETR stock opened at $96.62 on Friday. The company has a market capitalization of $43.13 billion, a P/E ratio of 24.06, a P/E/G ratio of 2.41 and a beta of 0.62. The business’s 50 day moving average is $91.61 and its two-hundred day moving average is $86.59. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 12-month low of $66.85 and a 12-month high of $98.58.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. Entergy had a return on equity of 11.52% and a net margin of 14.35%.The company had revenue of $2.37 billion for the quarter. Analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

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.