ARGA Investment Management LP Lowers Stake in Entergy Corporation $ETR

Key Points

• ARGA Investment Management LP reduced its stake in Entergy Corporation by 30.8%, leaving it with 10,814 shares valued at $899,000 after selling 4,804 shares in the second quarter.
• Additionally, institutional investors own 88.07% of Entergy's stock, with major shifts in holdings including TD Asset Management Inc increasing its stake by an astonishing 964.8% in the first quarter.
• Several analysts have rated Entergy positively, with a consensus price target of $99.00 and thirteen analysts assigning a Buy rating to the stock.

ARGA Investment Management LP cut its stake in Entergy Corporation (NYSE:ETR - Free Report) by 30.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,814 shares of the utilities provider's stock after selling 4,804 shares during the quarter. ARGA Investment Management LP's holdings in Entergy were worth $899,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ETR. Mizuho set a $97.00 target price on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Scotiabank set a $105.00 price objective on Entergy and gave the stock an "outperform" rating in a research report on Friday, October 3rd. KeyCorp restated an "overweight" rating and set a $106.00 target price (up from $96.00) on shares of Entergy in a research note on Wednesday, October 15th. Evercore ISI set a $98.00 price target on Entergy and gave the company an "in-line" rating in a research note on Monday, October 6th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Entergy in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.00.

Entergy Stock Performance

ETR opened at $95.68 on Friday. 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. The firm has a 50 day moving average of $91.46 and a two-hundred day moving average of $86.47. The firm has a market capitalization of $42.71 billion, a PE ratio of 23.83, a P/E/G ratio of 2.42 and a beta of 0.62.

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

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value 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. The trade was a 57.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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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