NewSquare Capital LLC Raises Position in Entergy Corp. (ETR)
NewSquare Capital LLC boosted its position in shares of Entergy Corp. (NYSE:ETR) by 16.2% during the second quarter, Holdings Channel reports. The fund owned 7,960 shares of the company’s stock after buying an additional 1,112 shares during the period. NewSquare Capital LLC’s holdings in Entergy Corp. were worth $648,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Iowa State Bank purchased a new position in shares of Entergy Corp. during the second quarter worth $103,000. Nikko Asset Management Americas Inc. purchased a new position in shares of Entergy Corp. during the first quarter worth $111,000. Washington Trust Bank raised its position in shares of Entergy Corp. by 11.5% in the second quarter. Washington Trust Bank now owns 1,936 shares of the company’s stock worth $157,000 after buying an additional 199 shares during the last quarter. Juncture Wealth Strategies LLC raised its position in shares of Entergy Corp. by 26.9% in the second quarter. Juncture Wealth Strategies LLC now owns 3,300 shares of the company’s stock worth $268,000 after buying an additional 700 shares during the last quarter. Finally, MIG Capital LLC raised its position in shares of Entergy Corp. by 4.1% in the first quarter. MIG Capital LLC now owns 3,434 shares of the company’s stock worth $272,000 after buying an additional 136 shares during the last quarter. Institutional investors own 85.80% of the company’s stock.
Entergy Corp. (NYSE:ETR) traded up 0.14% during trading on Tuesday, reaching $79.25. The company’s stock had a trading volume of 1,060,789 shares. The company has a market capitalization of $14.18 billion, a P/E ratio of 81.87 and a beta of 0.32. The company’s 50-day moving average is $78.76 and its 200-day moving average is $77.97. Entergy Corp. has a 1-year low of $62.30 and a 1-year high of $82.09.
Entergy Corp. (NYSE:ETR) last posted its earnings results on Tuesday, August 2nd. The company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $2.06. Entergy Corp. had a return on equity of 15.34% and a net margin of 1.78%. During the same period last year, the business earned $0.83 EPS. Equities analysts anticipate that Entergy Corp. will post $6.61 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 11th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.29%. The ex-dividend date was Tuesday, August 9th. Entergy Corp.’s dividend payout ratio (DPR) is 354.17%.
A number of research analysts have weighed in on ETR shares. Guggenheim upgraded Entergy Corp. from a “neutral” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Monday, August 22nd. Goldman Sachs Group Inc. upgraded Entergy Corp. from a “buy” rating to a “conviction-buy” rating and lifted their price target for the stock from $87.00 to $88.00 in a report on Monday, June 6th. Bank of America Corp. reiterated a “hold” rating on shares of Entergy Corp. in a report on Friday, June 10th. Morgan Stanley reiterated a “hold” rating on shares of Entergy Corp. in a report on Friday, June 10th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $81.00 price target on shares of Entergy Corp. in a report on Friday, June 10th. Ten investment 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 company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $80.05.
In other Entergy Corp. news, insider Charles L. Rice, Jr. sold 760 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $79.36, for a total value of $60,313.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Haley Fisackerly sold 1,250 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $77.60, for a total value of $97,000.00. The disclosure for this sale can be found here. 0.22% of the stock is owned by company 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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