Norden Group LLC Has $409,000 Position in Entergy Corporation (NYSE:ETR)

Key Points

• Norden Group LLC reduced its holdings in Entergy Corporation by 78.0%, selling 16,997 shares and now owns 4,782 shares valued at approximately $409,000.
• Entergy recently reported earnings exceeding expectations, with $1.05 earnings per share against a consensus estimate of $0.91.
• The company announced a quarterly dividend of $0.60 per share, with an annualized dividend yield of 2.69%.

Norden Group LLC lowered its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 78.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,782 shares of the utilities provider's stock after selling 16,997 shares during the quarter. Norden Group LLC's holdings in Entergy were worth $409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ETR. Brighton Jones LLC grew its stake in shares of Entergy by 275.6% during the fourth 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 period. Blair William & Co. IL grew its stake in Entergy by 137.1% in the fourth quarter. Blair William & Co. IL now owns 21,297 shares of the utilities provider's stock valued at $1,615,000 after acquiring an additional 12,315 shares during the period. Orion Portfolio Solutions LLC grew its stake in Entergy by 149.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 10,763 shares of the utilities provider's stock valued at $816,000 after acquiring an additional 6,455 shares during the period. Schroder Investment Management Group grew its stake in Entergy by 231.0% in the fourth quarter. Schroder Investment Management Group now owns 342,505 shares of the utilities provider's stock valued at $25,945,000 after acquiring an additional 239,017 shares during the period. Finally, RWA Wealth Partners LLC acquired a new position in Entergy in the fourth quarter valued at about $457,000. Institutional investors own 88.07% of the company's stock.

Entergy Stock Performance

NYSE:ETR traded up $1.19 on Thursday, hitting $90.48. The company's stock had a trading volume of 2,965,288 shares, compared to its average volume of 2,496,343. The company has a current ratio of 0.80, a quick ratio of 0.55 and a debt-to-equity ratio of 1.73. The stock has a fifty day moving average of $83.41 and a two-hundred day moving average of $83.09. The firm has a market capitalization of $38.98 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.43 and a beta of 0.59. Entergy Corporation has a one year low of $57.47 and a one year high of $91.46.

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

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. Entergy's dividend payout ratio is presently 59.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ETR shares. Mizuho set a $97.00 target price on Entergy and gave the company an "outperform" rating in a research note on Thursday. Barclays decreased 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. JPMorgan Chase & Co. boosted their target price on Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. KeyCorp restated an "overweight" rating and issued a $96.00 price target (up from $88.00) on shares of Entergy in a report on Thursday. Finally, Morgan Stanley cut their price target on Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.