Confluence Investment Management LLC Buys 11,745 Shares of Entergy Co. (NYSE:ETR)

Confluence Investment Management LLC boosted its stake in shares of Entergy Co. (NYSE:ETRGet Rating) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 881,730 shares of the utilities provider’s stock after acquiring an additional 11,745 shares during the period. Entergy makes up approximately 1.5% of Confluence Investment Management LLC’s holdings, making the stock its 22nd biggest holding. Confluence Investment Management LLC’s holdings in Entergy were worth $99,318,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in Entergy by 17.1% during the 4th quarter. Capital International Investors now owns 12,028,310 shares of the utilities provider’s stock valued at $1,354,989,000 after purchasing an additional 1,758,132 shares during the period. BlackRock Inc. lifted its position in Entergy by 9.0% during the 1st quarter. BlackRock Inc. now owns 18,499,101 shares of the utilities provider’s stock valued at $2,159,770,000 after purchasing an additional 1,533,746 shares during the period. State Street Corp lifted its position in Entergy by 8.1% during the 1st quarter. State Street Corp now owns 12,122,596 shares of the utilities provider’s stock valued at $1,415,313,000 after purchasing an additional 908,932 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Entergy by 35.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,699,404 shares of the utilities provider’s stock valued at $315,156,000 after purchasing an additional 711,770 shares during the period. Finally, Vanguard Group Inc. lifted its position in Entergy by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 23,663,740 shares of the utilities provider’s stock valued at $2,762,741,000 after purchasing an additional 650,775 shares during the period. Institutional investors own 90.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ETR shares. BMO Capital Markets upped their target price on shares of Entergy from $124.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Morgan Stanley upped their target price on shares of Entergy from $106.00 to $115.00 and gave the company an “underweight” rating in a research report on Tuesday, August 23rd. Mizuho cut their price target on shares of Entergy from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Wells Fargo & Company increased their price target on shares of Entergy from $125.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, August 4th. Finally, UBS Group downgraded shares of Entergy from a “buy” rating to a “neutral” rating and cut their price target for the company from $134.00 to $128.00 in a research report on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Entergy has a consensus rating of “Hold” and an average price target of $125.43.

Entergy Stock Performance

Shares of ETR stock opened at $115.42 on Monday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.64 and a current ratio of 0.87. The company has a market capitalization of $23.48 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.69 and a beta of 0.57. The company’s 50 day moving average price is $116.15 and its two-hundred day moving average price is $115.90. Entergy Co. has a 52 week low of $98.50 and a 52 week high of $126.82.

Entergy (NYSE:ETRGet Rating) last announced its earnings results on Wednesday, August 3rd. The utilities provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.36 by $0.42. Entergy had a net margin of 9.92% and a return on equity of 11.07%. During the same quarter in the prior year, the company posted $1.34 EPS. On average, analysts expect that Entergy Co. will post 6.38 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th were paid a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 10th. This represents a $4.04 annualized dividend and a dividend yield of 3.50%. Entergy’s dividend payout ratio is currently 66.78%.

Entergy Company Profile

(Get Rating)

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.

See Also

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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