Oppenheimer Asset Management Inc. Trims Stock Position in Entergy Co. (NYSE:ETR)

Oppenheimer Asset Management Inc. cut its holdings in shares of Entergy Co. (NYSE:ETR) by 80.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,499 shares of the utilities provider’s stock after selling 10,487 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Entergy were worth $258,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC lifted its position in Entergy by 13.5% during the first quarter. FMR LLC now owns 3,784,148 shares of the utilities provider’s stock worth $361,878,000 after buying an additional 448,737 shares during the period. Northern Trust Corp lifted its position in Entergy by 2.5% during the first quarter. Northern Trust Corp now owns 2,553,047 shares of the utilities provider’s stock worth $244,148,000 after buying an additional 61,297 shares during the period. Geode Capital Management LLC lifted its position in Entergy by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 2,475,894 shares of the utilities provider’s stock worth $212,751,000 after buying an additional 168,371 shares during the period. Janus Henderson Group PLC increased its stake in Entergy by 16.0% during the second quarter. Janus Henderson Group PLC now owns 1,723,736 shares of the utilities provider’s stock worth $177,423,000 after acquiring an additional 237,855 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in Entergy by 36.2% during the first quarter. Pictet Asset Management Ltd. now owns 1,601,350 shares of the utilities provider’s stock worth $153,137,000 after acquiring an additional 425,288 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

NYSE:ETR traded up $0.14 on Friday, hitting $114.03. 14,023 shares of the stock were exchanged, compared to its average volume of 1,135,394. The stock has a market cap of $22.32 billion, a PE ratio of 15.56, a PEG ratio of 3.05 and a beta of 0.29. The company has a current ratio of 0.73, a quick ratio of 0.52 and a debt-to-equity ratio of 1.76. The stock has a fifty day moving average of $109.26 and a 200-day moving average of $100.66. Entergy Co. has a fifty-two week low of $78.99 and a fifty-two week high of $115.90.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $1.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.03). The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.98 billion. Entergy had a return on equity of 13.75% and a net margin of 8.97%. During the same quarter in the prior year, the company earned $1.42 earnings per share. As a group, analysts predict that Entergy Co. will post 5.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 8th were paid a $0.91 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.19%. Entergy’s dividend payout ratio (DPR) is currently 49.79%.

In other news, EVP A. Christopher Bakken III sold 6,750 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $64.84, for a total value of $437,670.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Paul D. Hinnenkamp sold 11,000 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $105.00, for a total value of $1,155,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,939 shares of company stock valued at $8,896,045. Insiders own 0.27% of the company’s stock.

ETR has been the subject of several research analyst reports. UBS Group set a $115.00 price target on Entergy and gave the stock a “buy” rating in a research note on Monday, July 15th. Morgan Stanley lowered Entergy from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $114.00 to $115.00 in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upgraded Entergy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $105.00 to $116.00 in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $103.33.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.

Further Reading: What does an equal weight rating mean?

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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