Moore Capital Management LP Makes New $3.28 Million Investment in Entergy Co. (NYSE:ETR)

Moore Capital Management LP acquired a new stake in Entergy Co. (NYSE:ETR – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 32,541 shares of the utilities provider’s stock, valued at approximately $3,275,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Trust Co. of Vermont purchased a new stake in Entergy during the 3rd quarter valued at $61,000. Allspring Global Investments Holdings LLC grew its stake in shares of Entergy by 5.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 119,233 shares of the utilities provider’s stock worth $11,997,000 after purchasing an additional 6,522 shares during the last quarter. Horizon Investment Services LLC increased its holdings in Entergy by 12.4% during the 2nd quarter. Horizon Investment Services LLC now owns 2,446 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 269 shares during the period. Victory Capital Management Inc. raised its position in Entergy by 7.8% during the 3rd quarter. Victory Capital Management Inc. now owns 524,757 shares of the utilities provider’s stock valued at $52,806,000 after purchasing an additional 37,958 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Entergy by 10.1% in the 3rd quarter. CIBC Asset Management Inc now owns 27,053 shares of the utilities provider’s stock worth $2,722,000 after buying an additional 2,479 shares during the period. Hedge funds and other institutional investors own 89.98% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of recent analyst reports. TheStreet downgraded Entergy from a “b” rating to a “c+” rating in a report on Thursday, February 16th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research report on Friday, November 11th. Wells Fargo & Company boosted their price target on shares of Entergy from $123.00 to $135.00 in a research report on Wednesday, December 14th. Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $135.00 to $119.00 in a report on Tuesday, January 3rd. Finally, Morgan Stanley reduced their target price on Entergy from $108.00 to $103.00 and set an “underweight” rating on the stock in a report on Wednesday, February 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Entergy currently has a consensus rating of “Hold” and a consensus target price of $122.47.

Insider Activity

In related news, EVP Marcus V. Brown sold 12,500 shares of Entergy stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $106.10, for a total value of $1,326,250.00. Following the completion of the sale, the executive vice president now directly owns 9,129 shares in the company, valued at approximately $968,586.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Entergy news, EVP Marcus V. Brown sold 12,500 shares of Entergy stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $106.10, for a total value of $1,326,250.00. Following the completion of the sale, the executive vice president now owns 9,129 shares of the company’s stock, valued at approximately $968,586.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Haley Fisackerly sold 3,890 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $108.42, for a total transaction of $421,753.80. Following the sale, the insider now owns 1,656 shares of the company’s stock, valued at $179,543.52. The disclosure for this sale can be found here. Insiders have sold a total of 16,792 shares of company stock valued at $1,790,650 over the last ninety days. 0.37% of the stock is currently owned by corporate insiders.

Entergy Price Performance

ETR opened at $102.86 on Friday. The firm has a market cap of $21.74 billion, a PE ratio of 19.08, a P/E/G ratio of 2.57 and a beta of 0.63. The stock has a 50-day moving average price of $107.07 and a 200-day moving average price of $109.94. Entergy Co. has a 1 year low of $94.94 and a 1 year high of $126.82. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.64 and a quick ratio of 0.43.

Entergy (NYSE:ETR – Get Rating) last issued its earnings results on Thursday, February 16th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. Entergy had a net margin of 8.01% and a return on equity of 10.88%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the company earned $0.76 earnings per share. Sell-side analysts predict that Entergy Co. will post 6.68 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, February 9th. Entergy’s dividend payout ratio is currently 79.41%.

About Entergy

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Entergy Corp. is a holding company, which engages in electric power generation and distribution. It operates through the following segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution, and sale of electric power and the operations of a natural gas distribution business.