Entropy Technologies LP Makes New Investment in Entergy Corporation (NYSE:ETR)

Key Points

• Entropy Technologies LP has acquired a new stake in Entergy Corporation valued at approximately $2.70 million, purchasing 31,594 shares.
• Several institutional investors, including Bank of America and Ameriprise Financial, have significantly increased their holdings in Entergy over the past year, with institutional ownership now at 88.07%.
• Entergy announced a quarterly dividend of $0.60 per share, representing an annual yield of 2.7%, scheduled for payment on September 2nd.

Entropy Technologies LP bought a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,594 shares of the utilities provider's stock, valued at approximately $2,701,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Glen Eagle Advisors LLC boosted its stake in shares of Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after buying an additional 180 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Entergy during the 1st quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc purchased a new position in shares of Entergy during the 4th quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of Entergy during the 4th quarter valued at approximately $30,000. Finally, Grove Bank & Trust boosted its stake in shares of Entergy by 188.5% during the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after buying an additional 230 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Price Performance

Shares of ETR stock traded up $0.06 during midday trading on Wednesday, reaching $90.95. 1,789,830 shares of the company were exchanged, compared to its average volume of 3,578,420. Entergy Corporation has a 12 month low of $58.19 and a 12 month high of $92.40. The company has a market cap of $40.60 billion, a P/E ratio of 22.65, a PEG ratio of 2.45 and a beta of 0.57. The company's 50 day moving average price is $84.66 and its two-hundred day moving average price is $83.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results 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 net margin of 14.35% and a return on equity of 11.52%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the company earned $1.92 EPS. On average, sell-side analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th will be paid 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 yield of 2.6%. Entergy's dividend payout ratio is currently 59.85%.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

ETR has been the subject of several research analyst reports. Barclays reduced their target price on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. BMO Capital Markets lifted their target price on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Raymond James Financial assumed coverage on Entergy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. Mizuho set a $97.00 target price on Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley decreased their target price on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.07.

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.