QRG Capital Management Inc. Buys 61,755 Shares of Entergy Co. (NYSE:ETR)

QRG Capital Management Inc. grew its stake in Entergy Co. (NYSE:ETR) by 663.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 71,070 shares of the utilities provider’s stock after buying an additional 61,755 shares during the quarter. QRG Capital Management Inc.’s holdings in Entergy were worth $7,604,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Tidemark LLC acquired a new stake in Entergy in the 4th quarter worth approximately $25,000. Heritage Wealth Advisors boosted its holdings in shares of 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 period. OLD Point Trust & Financial Services N A acquired a new position in Entergy in the 4th quarter valued at $35,000. Newbridge Financial Services Group Inc. raised its holdings in Entergy by 40.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 110 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Entergy by 134.3% during the 1st quarter. Venturi Wealth Management LLC now owns 396 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 227 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Price Performance

Shares of NYSE:ETR traded up $0.31 during midday trading on Friday, reaching $117.53. 1,148,311 shares of the company’s stock were exchanged, compared to its average volume of 1,528,779. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.45 and a current ratio of 0.94. The company’s 50 day simple moving average is $109.88 and its two-hundred day simple moving average is $106.33. Entergy Co. has a 12 month low of $87.10 and a 12 month high of $123.61. The firm has a market capitalization of $25.10 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71.

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

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Tuesday, August 13th. Entergy’s dividend payout ratio (DPR) is 45.34%.

Analyst Ratings Changes

A number of research firms have recently commented on ETR. Guggenheim lifted their price objective on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. KeyCorp lifted their price target on Entergy from $112.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Barclays reduced their price objective on Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Wells Fargo & Company boosted their target price on shares of Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley reduced their price target on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating for the company in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and a consensus target price of $118.19.

Insiders Place Their Bets

In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $121.46, for a total transaction of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,307,787.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the sale, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at $4,363,182.08. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Entergy 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.