Entergy Co. (NYSE:ETR) Shares Purchased by DNB Asset Management AS

DNB Asset Management AS boosted its position in shares of Entergy Co. (NYSE:ETR) by 3.4% in the second quarter, HoldingsChannel.com reports. The fund owned 47,609 shares of the utilities provider’s stock after acquiring an additional 1,574 shares during the quarter. DNB Asset Management AS’s holdings in Entergy were worth $5,094,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Tidemark LLC purchased a new position in shares of Entergy in the fourth quarter worth about $25,000. Heritage Wealth Advisors raised its position in Entergy by 2,172.7% during the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Entergy during the 4th quarter valued at approximately $35,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Entergy by 40.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 110 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Entergy by 134.3% during the first quarter. Venturi Wealth Management LLC now owns 396 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Shares of Entergy stock opened at $116.16 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.45. The business has a 50 day simple moving average of $109.38 and a two-hundred day simple moving average of $105.99. The stock has a market capitalization of $24.80 billion, a P/E ratio of 11.65, a PEG ratio of 2.29 and a beta of 0.71. Entergy Co. has a 12 month low of $87.10 and a 12 month high of $123.61.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the firm posted $1.84 EPS. As a group, analysts predict that Entergy Co. will post 7.21 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th will be issued a $1.13 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a yield of 3.89%. Entergy’s payout ratio is 45.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ETR shares. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $109.50 price target (down from $117.00) on shares of Entergy in a report on Wednesday, June 12th. Mizuho lifted their price target on Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Barclays lowered their price objective on Entergy from $116.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Guggenheim lifted their target price on shares of Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets raised their price target on shares of Entergy from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and an average target price of $118.19.

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.