Principal Financial Group Inc. Sells 5,693 Shares of Entergy Corporation (NYSE:ETR)

Principal Financial Group Inc. lowered its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 543,533 shares of the utilities provider's stock after selling 5,693 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Entergy worth $46,467,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ETR. Legacy Financial Advisors Inc. boosted its holdings in shares of Entergy by 60.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider's stock valued at $1,219,000 after purchasing an additional 6,028 shares during the period. Bank of Montreal Can boosted its stake in shares of Entergy by 74.3% during the 4th quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider's stock worth $50,869,000 after acquiring an additional 286,005 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Entergy in the 4th quarter valued at about $9,135,000. Horizon Investment Services LLC lifted its stake in Entergy by 95.3% in the 4th quarter. Horizon Investment Services LLC now owns 4,319 shares of the utilities provider's stock worth $328,000 after purchasing an additional 2,108 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Entergy by 25.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider's stock valued at $6,708,000 after buying an additional 15,892 shares during the period. 88.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ETR. UBS Group boosted their target price on shares of Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. increased their target price on Entergy from $87.00 to $98.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. Raymond James Financial began coverage on Entergy in a report on Friday, June 13th. They set a "market perform" rating on the stock. Barclays lifted their target price on Entergy from $88.00 to $91.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, BMO Capital Markets upped their price objective on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $86.25.

Entergy Stock Down 1.9%

Shares of ETR traded down $1.53 during midday trading on Tuesday, reaching $80.19. The stock had a trading volume of 254,915 shares, compared to its average volume of 3,741,248. The company has a market cap of $34.55 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 2.23 and a beta of 0.59. Entergy Corporation has a 1-year low of $52.06 and a 1-year high of $88.38. The company's fifty day simple moving average is $82.42 and its two-hundred day simple moving average is $81.99. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.82 and a quick ratio of 0.55.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.22. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.13 billion. Entergy had a return on equity of 11.43% and a net margin of 11.26%. During the same quarter last year, the firm earned $0.54 earnings per share. Equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

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.