Thrivent Financial for Lutherans Increases Stake in Entergy Co. (NYSE:ETR)

Thrivent Financial for Lutherans increased its holdings in Entergy Co. (NYSE:ETR) by 1.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,122,112 shares of the utilities provider’s stock after purchasing an additional 39,286 shares during the period. Entergy makes up about 0.6% of Thrivent Financial for Lutherans’ holdings, making the stock its 19th biggest holding. Thrivent Financial for Lutherans owned approximately 1.00% of Entergy worth $228,636,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Financial Management Professionals Inc. boosted its holdings in Entergy by 1,019.0% during the 1st quarter. Financial Management Professionals Inc. now owns 235 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 214 shares during the period. Trust Co. of Vermont purchased a new stake in Entergy during the 1st quarter valued at $26,000. Fairfield Bush & CO. purchased a new stake in Entergy during the 1st quarter valued at $29,000. Dark Forest Capital Management LP boosted its position in Entergy by 1,618.8% during the 4th quarter. Dark Forest Capital Management LP now owns 275 shares of the utilities provider’s stock valued at $31,000 after buying an additional 259 shares during the period. Finally, Aspire Private Capital LLC purchased a new stake in Entergy during the 1st quarter valued at $30,598,160,000. Hedge funds and other institutional investors own 86.52% of the company’s stock.

Entergy Stock Up 0.4 %

Shares of NYSE:ETR opened at $95.74 on Wednesday. Entergy Co. has a 12-month low of $91.80 and a 12-month high of $121.28. The stock has a market capitalization of $20.25 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.49 and a beta of 0.65. The stock has a fifty day simple moving average of $97.84 and a two-hundred day simple moving average of $101.58. The company has a current ratio of 0.80, a quick ratio of 0.54 and a debt-to-equity ratio of 1.84.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Entergy had a net margin of 10.22% and a return on equity of 10.22%. During the same quarter in the previous year, the business posted $1.78 EPS. On average, research analysts anticipate that Entergy Co. will post 6.69 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Thursday, August 10th. Entergy’s dividend payout ratio (DPR) is currently 65.24%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ETR shares. BMO Capital Markets dropped their price target on shares of Entergy from $120.00 to $114.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Bank of America dropped their price objective on Entergy from $119.00 to $107.00 in a report on Sunday, May 21st. Guggenheim dropped their target price on shares of Entergy from $124.00 to $110.00 in a research report on Friday, July 7th. JPMorgan Chase & Co. raised their target price on shares of Entergy from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. Finally, Morgan Stanley dropped their target price on shares of Entergy from $102.00 to $94.00 and set an “underweight” rating for the company in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.50.

Insider Buying and Selling

In other Entergy news, EVP Marcus V. Brown sold 13,500 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $95.40, for a total transaction of $1,287,900.00. Following the sale, the executive vice president now directly owns 9,251 shares in the company, valued at approximately $882,545.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.39% of the stock is owned by company insiders.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.