BI Asset Management Fondsmaeglerselskab A S Purchases 2,084 Shares of Entergy Co. (NYSE:ETR)

BI Asset Management Fondsmaeglerselskab A S lifted its position in Entergy Co. (NYSE:ETR) by 35.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,953 shares of the utilities provider’s stock after acquiring an additional 2,084 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Entergy were worth $840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quent Capital LLC grew its position in Entergy by 21.7% in the 1st quarter. Quent Capital LLC now owns 550 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 98 shares in the last quarter. Wealth Alliance raised its stake in shares of Entergy by 1.2% in the fourth quarter. Wealth Alliance now owns 8,201 shares of the utilities provider’s stock valued at $830,000 after acquiring an additional 101 shares in the last quarter. Marino Stram & Associates LLC increased its holdings in Entergy by 1.7% during the 1st quarter. Marino Stram & Associates LLC now owns 5,879 shares of the utilities provider’s stock worth $621,000 after purchasing an additional 101 shares during the period. Prossimo Advisors LLC raised its position in Entergy by 2.5% in the 4th quarter. Prossimo Advisors LLC now owns 4,512 shares of the utilities provider’s stock valued at $457,000 after purchasing an additional 110 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Entergy by 40.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock worth $41,000 after buying an additional 110 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Performance

ETR traded up $0.56 during trading hours on Wednesday, hitting $105.51. 189,247 shares of the stock were exchanged, compared to its average volume of 1,530,875. The stock has a 50-day simple moving average of $108.67 and a 200-day simple moving average of $104.52. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45. Entergy Co. has a 12 month low of $87.10 and a 12 month high of $114.28. The stock has a market cap of $22.53 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 1.98 and a beta of 0.71.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The company had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. Entergy had a return on equity of 10.20% and a net margin of 17.75%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 earnings per share. Analysts anticipate that Entergy Co. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ETR. Morgan Stanley reduced their target price on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. KeyCorp increased their target price on Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, May 20th. BMO Capital Markets cut their target price on Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a research report on Monday. Barclays boosted their target price on Entergy from $107.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Entergy from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and an average target price of $113.50.

Insider Activity at Entergy

In related news, CAO Reginald T. Jackson sold 9,229 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the transaction, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at $235,465.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the sale, the insider now directly owns 2,479 shares in the company, valued at $273,260.17. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Entergy Profile

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.