Oppenheimer Asset Management Inc. Lowers Stock Position in Entergy Corporation $ETR

Oppenheimer Asset Management Inc. lessened its position in shares of Entergy Corporation (NYSE:ETR) by 21.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,187 shares of the utilities provider’s stock after selling 1,654 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Entergy were worth $514,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ETR. Brian Low Financial Group LLC purchased a new stake in shares of Entergy during the 2nd quarter worth about $842,000. Ranch Capital Advisors Inc. grew its holdings in shares of Entergy by 4.3% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 28,086 shares of the utilities provider’s stock worth $2,334,000 after purchasing an additional 1,159 shares during the period. AlphaQuest LLC grew its holdings in shares of Entergy by 283.1% during the 2nd quarter. AlphaQuest LLC now owns 14,808 shares of the utilities provider’s stock worth $1,231,000 after purchasing an additional 10,943 shares during the period. Catalyst Capital Advisors LLC grew its holdings in shares of Entergy by 72.1% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 907 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 380 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in Entergy by 9.2% during the second quarter. Asset Management One Co. Ltd. now owns 195,406 shares of the utilities provider’s stock worth $16,242,000 after buying an additional 16,427 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of several research reports. Royal Bank Of Canada upgraded shares of Entergy to a “moderate buy” rating in a research note on Tuesday, October 28th. Mizuho upped their price target on shares of Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Scotiabank set a $105.00 price target on shares of Entergy and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Morgan Stanley set a $93.00 target price on Entergy and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Bank of America upped their target price on Entergy from $88.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.37.

Entergy Stock Up 0.1%

Shares of Entergy stock opened at $96.17 on Friday. The business has a 50-day moving average of $92.31 and a 200-day moving average of $87.19. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.52. The company has a market capitalization of $42.93 billion, a PE ratio of 23.75, a P/E/G ratio of 2.40 and a beta of 0.62. Entergy Corporation has a 1-year low of $70.21 and a 1-year high of $98.58.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The firm had revenue of $2.37 billion during the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%. As a group, equities analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It 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.