GSA Capital Partners LLP Raises Holdings in Entergy Co. (NYSE:ETR)

GSA Capital Partners LLP increased its position in Entergy Co. (NYSE:ETR) by 196.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,914 shares of the utilities provider’s stock after acquiring an additional 5,247 shares during the quarter. GSA Capital Partners LLP’s holdings in Entergy were worth $1,042,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ETR. Iron Horse Wealth Management LLC bought a new stake in shares of Entergy in the second quarter valued at approximately $25,000. Cetera Trust Company N.A bought a new stake in Entergy during the 3rd quarter valued at $29,000. Fortitude Family Office LLC raised its holdings in Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 178 shares during the period. American National Bank boosted its holdings in shares of Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 134 shares during the period. Finally, TruNorth Capital Management LLC bought a new position in shares of Entergy in the second quarter worth $32,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Up 1.4 %

ETR opened at $149.13 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The business’s fifty day simple moving average is $134.47 and its 200 day simple moving average is $119.71. Entergy Co. has a 52 week low of $96.15 and a 52 week high of $156.85. The stock has a market cap of $31.97 billion, a PE ratio of 18.16, a P/E/G ratio of 2.47 and a beta of 0.71.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period last year, the firm posted $3.27 EPS. As a group, research analysts expect that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.22%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. Entergy’s payout ratio is presently 58.47%.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,134 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $149.03, for a total transaction of $616,090.02. Following the completion of the sale, the insider now directly owns 2,016 shares in the company, valued at $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,092,241.93. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,472 shares of company stock valued at $5,076,328. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

ETR has been the topic of a number of recent research reports. Guggenheim increased their price objective on Entergy from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Argus raised shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. KeyCorp boosted their price objective on shares of Entergy from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Scotiabank boosted their price target on shares of Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Finally, Bank of America downgraded Entergy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $138.00 to $154.00 in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Entergy Company 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.