Spinnaker Trust Acquires 956 Shares of Entergy Corporation $ETR

Spinnaker Trust lifted its holdings in shares of Entergy Corporation (NYSE:ETR) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,130 shares of the utilities provider’s stock after acquiring an additional 956 shares during the period. Spinnaker Trust’s holdings in Entergy were worth $1,091,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Asset Management Inc grew its position in Entergy by 964.8% in the 1st quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider’s stock worth $261,232,000 after purchasing an additional 2,768,734 shares in the last quarter. Vanguard Group Inc. grew its position in Entergy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider’s stock worth $4,687,331,000 after purchasing an additional 2,695,348 shares in the last quarter. Alkeon Capital Management LLC bought a new stake in Entergy in the 1st quarter worth about $194,429,000. Nuveen LLC bought a new stake in Entergy in the 1st quarter worth about $123,648,000. Finally, Zimmer Partners LP grew its position in Entergy by 285.5% in the 1st quarter. Zimmer Partners LP now owns 1,133,474 shares of the utilities provider’s stock worth $96,901,000 after purchasing an additional 839,474 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada raised shares of Entergy to a “moderate buy” rating in a research report on Tuesday. BTIG Research raised shares of Entergy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Entergy in a research note on Wednesday, October 8th. Mizuho boosted their target price on shares of Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Bank of America boosted their target price on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.94.

Entergy Stock Performance

Shares of ETR stock opened at $95.31 on Thursday. The stock has a market capitalization of $42.55 billion, a P/E ratio of 23.74, a PEG ratio of 2.39 and a beta of 0.62. 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 firm’s 50 day moving average is $92.03 and its 200 day moving average is $87.01. Entergy Corporation has a 12 month low of $66.85 and a 12 month high of $98.58.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The company had revenue of $2.37 billion for the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. On average, sell-side analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current 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.