Entergy Corporation (NYSE:ETR) Stake Held by First Manhattan Co.
First Manhattan Co. held its position in Entergy Corporation (NYSE:ETR) during the second quarter, Holdings Channel reports. The fund owned 2,994 shares of the utilities provider’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Entergy Corporation were worth $229,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of ETR. Benjamin F. Edwards & Company Inc. raised its position in Entergy Corporation by 46.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock valued at $100,000 after buying an additional 410 shares in the last quarter. V Wealth Management LLC acquired a new position in Entergy Corporation during the second quarter valued at $106,000. Ledyard National Bank acquired a new position in Entergy Corporation during the first quarter valued at $123,000. Advisory Services Network LLC acquired a new position in Entergy Corporation during the first quarter valued at $174,000. Finally, Parallel Advisors LLC raised its position in Entergy Corporation by 291.6% in the first quarter. Parallel Advisors LLC now owns 2,377 shares of the utilities provider’s stock valued at $182,000 after buying an additional 1,770 shares in the last quarter. Hedge funds and other institutional investors own 83.29% of the company’s stock.
Shares of Entergy Corporation (NYSE ETR) opened at 76.84 on Friday. The firm has a 50 day moving average price of $76.59 and a 200 day moving average price of $75.84. The firm’s market cap is $13.79 billion. Entergy Corporation has a 1-year low of $66.71 and a 1-year high of $81.83.
Entergy Corporation (NYSE:ETR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $1.91. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. During the same quarter in the prior year, the firm earned $3.16 EPS. Analysts anticipate that Entergy Corporation will post $5.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.53%. Entergy Corporation’s dividend payout ratio (DPR) is presently -69.74%.
Several research firms have weighed in on ETR. BMO Capital Markets reiterated a “hold” rating and set a $78.00 target price on shares of Entergy Corporation in a report on Friday, August 4th. BidaskClub upgraded Entergy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine upgraded Entergy Corporation from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley lifted their target price on Entergy Corporation from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Zacks Investment Research upgraded Entergy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $78.77.
In other news, Director Alexis M. Herman sold 995 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $76.38, for a total transaction of $75,998.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Haley Fisackerly sold 600 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $75.92, for a total transaction of $45,552.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,095 shares of company stock worth $160,135 in the last three months. Insiders own 0.24% of the company’s stock.
Entergy Corporation Company Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company 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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