Reaves W H & Co. Inc. Raises Stock Holdings in Entergy Corporation (NYSE:ETR)

Key Points

• Reaves W H & Co. Inc. increased its stake in Entergy Corporation by 15.6%, holding approximately 2.3 million shares worth nearly $198.9 million, making it the company's second-largest position.
• Insider Haley Fisackerly sold 4,463 shares of Entergy at an average price of $90.50, resulting in a significant 57.36% decrease in his ownership of the stock.
• Entergy's recent earnings report showed EPS of $1.05, exceeding analysts' expectations, although revenue fell short at $3.02 billion compared to a forecast of $3.11 billion.

Reaves W H & Co. Inc. lifted its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 15.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,326,855 shares of the utilities provider's stock after buying an additional 314,547 shares during the quarter. Entergy comprises 5.1% of Reaves W H & Co. Inc.'s portfolio, making the stock its 2nd biggest holding. Reaves W H & Co. Inc. owned about 0.54% of Entergy worth $198,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Acropolis Investment Management LLC grew its holdings in Entergy by 0.7% during the 1st quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock worth $1,535,000 after acquiring an additional 129 shares during the period. Gen Wealth Partners Inc increased its holdings in Entergy by 27.5% in the fourth quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 144 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in Entergy by 18.6% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock valued at $90,000 after buying an additional 165 shares during the period. Legacy Investment Solutions LLC grew its position in shares of Entergy by 85.1% during the 4th quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider's stock worth $31,000 after buying an additional 172 shares during the period. Finally, Glen Eagle Advisors LLC increased its stake in shares of Entergy by 100.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Activity

In related news, insider Haley Fisackerly sold 4,463 shares of the firm'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 transaction, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ETR. Barclays decreased 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. Mizuho set a $97.00 target price on Entergy and gave the stock an "outperform" rating in a report on Thursday, July 31st. BMO Capital Markets increased their price target on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Morgan Stanley cut their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. Finally, Raymond James Financial assumed coverage on shares of Entergy in a report on Friday, June 13th. They set a "market perform" rating on the stock. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Entergy currently has an average rating of "Moderate Buy" and a consensus price target of $88.07.

Entergy Stock Up 0.2%

Shares of NYSE:ETR traded up $0.19 during trading on Thursday, hitting $90.47. 2,131,587 shares of the company were exchanged, compared to its average volume of 2,894,355. The stock has a market cap of $40.39 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 2.46 and a beta of 0.57. Entergy Corporation has a fifty-two week low of $57.58 and a fifty-two week high of $92.40. The firm has a fifty day moving average price of $84.22 and a two-hundred day moving average price of $83.44. 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 (NYSE:ETR - Get Free Report) last issued its earnings results 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 business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same period last year, the business posted $1.92 EPS. As a group, research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's payout ratio is presently 59.85%.

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.