4,732 Shares in Entergy Corporation (NYSE:ETR) Purchased by True North Advisors LLC

Key Points

• True North Advisors LLC has acquired 4,732 shares of Entergy Corporation, valued at approximately $405,000, marking a new position in the company's stock.
• Institutional investors currently hold 88.07% of Entergy's stock, indicating a strong institutional interest in the utility provider.
• Entergy recently reported earnings of $1.05 per share for the quarter, exceeding analyst expectations, despite a revenue of $3.02 billion that fell short of projections.

True North Advisors LLC purchased a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,732 shares of the utilities provider's stock, valued at approximately $405,000.

Several other hedge funds have also recently modified their holdings of ETR. Brighton Jones LLC raised its position in shares of Entergy by 275.6% during the 4th quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider's stock worth $696,000 after purchasing an additional 6,733 shares during the last quarter. Aviva PLC raised its holdings in Entergy by 100.0% in the 4th quarter. Aviva PLC now owns 6,720 shares of the utilities provider's stock valued at $510,000 after acquiring an additional 3,360 shares during the last quarter. Bank of Nova Scotia raised its holdings in Entergy by 126.8% in the 4th quarter. Bank of Nova Scotia now owns 62,017 shares of the utilities provider's stock valued at $4,702,000 after acquiring an additional 34,668 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Entergy in the 4th quarter valued at about $13,554,000. Finally, Advisory Services Network LLC raised its holdings in Entergy by 266.0% in the 4th quarter. Advisory Services Network LLC now owns 29,040 shares of the utilities provider's stock valued at $2,202,000 after acquiring an additional 21,106 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Entergy Stock Performance

Entergy stock opened at $90.44 on Friday. The firm has a 50 day simple moving average of $84.36 and a 200-day simple moving average of $83.49. Entergy Corporation has a 1-year low of $57.65 and a 1-year high of $92.40. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The stock has a market cap of $40.37 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter last year, the company posted $1.92 EPS. On average, analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

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

Analyst Upgrades and Downgrades

ETR has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Raymond James Financial initiated coverage on shares of Entergy in a report on Friday, June 13th. They issued a "market perform" rating for the company. KeyCorp reiterated an "overweight" rating and issued a $96.00 price objective (up previously from $88.00) on shares of Entergy in a report on Thursday, July 31st. Barclays cut their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Finally, Morgan Stanley cut their price objective on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Entergy has an average rating of "Moderate Buy" and a consensus target price of $88.07.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were 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 approximately $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

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.

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