Entropy Technologies LP Acquires Shares of 31,594 Entergy Corporation (NYSE:ETR)

Entropy Technologies LP acquired a new stake in Entergy Corporation (NYSE:ETR) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 31,594 shares of the utilities provider’s stock, valued at approximately $2,701,000.

Several other institutional investors also recently bought and sold shares of ETR. Acropolis Investment Management LLC lifted its position in shares of Entergy by 0.7% in the first quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider’s stock valued at $1,535,000 after acquiring an additional 129 shares in the last quarter. Gen Wealth Partners Inc lifted its position in shares of Entergy by 27.5% in the fourth quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 144 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Entergy by 18.6% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider’s stock valued at $90,000 after acquiring an additional 165 shares in the last quarter. Legacy Investment Solutions LLC lifted its position in shares of Entergy by 85.1% in the fourth quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 172 shares in the last quarter. Finally, Glen Eagle Advisors LLC lifted its position in shares of Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 180 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Haley Fisackerly sold 4,463 shares of the business’s stock in a transaction 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 directly owned 3,318 shares of the company’s stock, valued at $300,279. The trade was a 57.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on ETR. Raymond James Financial began coverage on Entergy in a research report on Friday, June 13th. They set a “market perform” rating on the stock. Barclays reduced their price objective on Entergy from $91.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price objective on Entergy from $100.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Morgan Stanley reduced their price objective on Entergy from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 18th. Finally, BMO Capital Markets lifted their price objective on Entergy from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

Entergy Trading Down 0.1%

Shares of NYSE ETR opened at $90.44 on Friday. Entergy Corporation has a twelve month low of $57.65 and a twelve month high of $92.40. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The stock has a fifty day simple moving average of $84.36 and a 200-day simple moving average of $83.49. The stock has a market capitalization of $40.37 billion, a PE ratio of 22.53, a PEG ratio of 2.46 and a beta of 0.57.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.14. Entergy had a return on equity of 11.52% and a net margin of 14.35%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the previous year, the firm posted $1.92 earnings per share. On average, equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy’s payout ratio is presently 59.85%.

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.