Russell Investments Group Ltd. Buys 95,289 Shares of Entergy Corporation (NYSE:ETR)

Key Points

• Russell Investments Group Ltd. increased its holdings in Entergy Corporation by 8.8% in the first quarter, owning approximately 1,176,178 shares worth about $100 million.
• A variety of institutional investors have recently modified their stakes in Entergy, with hedge funds owning 88.07% of the company's stock.
• In the latest earnings report, Entergy posted an EPS of $1.05, surpassing estimates, and announced a quarterly dividend of $0.60 per share.

Russell Investments Group Ltd. grew its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 8.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,176,178 shares of the utilities provider's stock after purchasing an additional 95,289 shares during the period. Russell Investments Group Ltd. owned 0.27% of Entergy worth $100,171,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Entergy in the first quarter valued at approximately $28,000. Grove Bank & Trust raised its holdings in Entergy by 188.5% in the first 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 period. Glen Eagle Advisors LLC raised its holdings in Entergy by 100.0% in the fourth 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 period. Wayfinding Financial LLC purchased a new position in Entergy in the first quarter valued at approximately $32,000. Finally, Fourth Dimension Wealth LLC purchased a new position in Entergy in the fourth quarter valued at approximately $30,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 3,318 shares in the company, valued at approximately $300,279. The trade was a 57.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on ETR shares. Barclays cut their price target on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Morgan Stanley lowered their price objective on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. BMO Capital Markets increased their price objective on shares of Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Raymond James Financial assumed coverage on shares of Entergy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Six equities 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 stock. According to data from MarketBeat.com, Entergy currently has an average rating of "Moderate Buy" and an average price target of $88.07.

Entergy Stock Down 1.4%

Shares of Entergy stock traded down $1.24 during trading on Friday, hitting $89.05. 4,104,742 shares of the stock traded hands, compared to its average volume of 2,711,109. The stock has a market cap of $39.75 billion, a P/E ratio of 22.18, a PEG ratio of 2.42 and a beta of 0.57. 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 Corporation has a twelve month low of $58.46 and a twelve month high of $92.40. The company has a fifty day moving average price of $85.15 and a two-hundred day moving average price of $83.85.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly 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 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 period in the previous year, the company earned $1.92 EPS. Equities research analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

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

About Entergy

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.