Narwhal Capital Management Sells 100 Shares of Entergy Corp. (ETR)
Narwhal Capital Management reduced its position in shares of Entergy Corp. (NYSE:ETR) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 15,800 shares of the company’s stock after selling 100 shares during the period. Narwhal Capital Management’s holdings in Entergy Corp. were worth $1,285,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dynamic Advisors Solutions LLC raised its position in shares of Entergy Corp. by 108.6% in the first quarter. Dynamic Advisors Solutions LLC now owns 26,750 shares of the company’s stock worth $2,121,000 after buying an additional 13,925 shares during the last quarter. Virginia Retirement System purchased a new position in shares of Entergy Corp. during the first quarter worth approximately $29,991,000. Nisa Investment Advisors L.L.C. raised its position in shares of Entergy Corp. by 107.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 31,900 shares of the company’s stock worth $2,529,000 after buying an additional 16,500 shares during the last quarter. Mn Services Vermogensbeheer B.V. bought a new position in Entergy Corp. during the first quarter valued at about $310,000. Finally, Aperio Group LLC raised its position in Entergy Corp. by 12.6% in the first quarter. Aperio Group LLC now owns 94,114 shares of the company’s stock valued at $7,461,000 after buying an additional 10,560 shares in the last quarter. Hedge funds and other institutional investors own 85.22% of the company’s stock.
Entergy Corp. (NYSE:ETR) traded up 2.17% during mid-day trading on Wednesday, hitting $80.97. The company’s stock had a trading volume of 953,107 shares. The firm has a market cap of $14.49 billion, a price-to-earnings ratio of 83.65 and a beta of 0.32. The firm has a 50 day moving average of $78.76 and a 200-day moving average of $77.97. Entergy Corp. has a 52-week low of $62.30 and a 52-week high of $82.09.
Entergy Corp. (NYSE:ETR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $1.05 by $2.06. Entergy Corp. had a net margin of 1.78% and a return on equity of 15.34%. During the same period in the previous year, the business earned $0.83 EPS. On average, equities research analysts expect that Entergy Corp. will post $6.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 11th were paid a $0.85 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $3.40 annualized dividend and a dividend yield of 4.20%. Entergy Corp.’s dividend payout ratio is 354.17%.
ETR has been the topic of several recent research reports. Goldman Sachs Group Inc. upgraded Entergy Corp. from a “buy” rating to a “conviction-buy” rating and raised their price target for the stock from $87.00 to $88.00 in a research report on Monday, June 6th. Jefferies Group raised their price target on Entergy Corp. from $79.00 to $84.00 and gave the stock a “hold” rating in a research report on Friday, June 10th. JPMorgan Chase & Co. restated a “hold” rating and issued a $81.00 price target on shares of Entergy Corp. in a research report on Friday, June 10th. Morgan Stanley restated a “hold” rating on shares of Entergy Corp. in a research report on Friday, June 10th. Finally, Bank of America Corp. restated a “hold” rating on shares of Entergy Corp. in a research report on Friday, June 10th. Ten equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Entergy Corp. has an average rating of “Hold” and an average price target of $80.05.
In related news, insider Charles L. Rice, Jr. sold 760 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $79.36, for a total value of $60,313.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Haley Fisackerly sold 1,250 shares of the business’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $77.60, for a total transaction of $97,000.00. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.
About Entergy Corp.
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. It operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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