Elkhorn Investments LLC Sells 515 Shares of Entergy Corporation (ETR)
Elkhorn Investments LLC trimmed its position in shares of Entergy Corporation (NYSE:ETR) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,696 shares of the utilities provider’s stock after selling 515 shares during the period. Elkhorn Investments LLC’s holdings in Entergy Corporation were worth $1,130,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Entergy Corporation by 2.4% during the first quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock worth $1,513,680,000 after buying an additional 470,255 shares during the period. BlackRock Inc. increased its stake in shares of Entergy Corporation by 1.0% during the second quarter. BlackRock Inc. now owns 16,243,801 shares of the utilities provider’s stock worth $1,247,035,000 after buying an additional 154,117 shares during the period. State Street Corp increased its stake in shares of Entergy Corporation by 1.2% during the first quarter. State Street Corp now owns 9,721,185 shares of the utilities provider’s stock worth $738,419,000 after buying an additional 115,341 shares during the period. AJO LP increased its stake in shares of Entergy Corporation by 16.0% during the second quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock worth $270,119,000 after buying an additional 485,602 shares during the period. Finally, FMR LLC increased its stake in shares of Entergy Corporation by 6.9% during the first quarter. FMR LLC now owns 3,488,914 shares of the utilities provider’s stock worth $265,018,000 after buying an additional 225,184 shares during the period. Hedge funds and other institutional investors own 84.16% of the company’s stock.
ETR has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Entergy Corporation from $83.50 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 31st. ValuEngine lowered shares of Entergy Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research lowered shares of Entergy Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Jefferies Group LLC restated a “hold” rating and set a $78.00 target price on shares of Entergy Corporation in a research note on Thursday, July 6th. Finally, BidaskClub lowered shares of Entergy Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $78.17.
In other news, insider Sallie T. Rainer sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $77.78, for a total value of $77,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexis M. Herman sold 995 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.38, for a total value of $75,998.10. The disclosure for this sale can be found here. Insiders have sold a total of 3,495 shares of company stock worth $271,313 over the last 90 days. 0.24% of the stock is owned by company insiders.
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Entergy Corporation (NYSE:ETR) traded down 1.55% during midday trading on Friday, hitting $76.75. The stock had a trading volume of 880,092 shares. Entergy Corporation has a 12-month low of $66.71 and a 12-month high of $81.83. The company’s market cap is $13.78 billion. The company has a 50-day moving average price of $78.33 and a 200-day moving average price of $77.11.
Entergy Corporation (NYSE:ETR) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $1.91. Entergy Corporation had a positive return on equity of 14.08% and a negative net margin of 7.98%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the business earned $3.16 EPS. Equities analysts anticipate that Entergy Corporation will post $6.70 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 10th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $3.48 annualized dividend and a yield of 4.53%. Entergy Corporation’s dividend payout ratio is presently -69.74%.
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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