Convergence Investment Partners LLC Increases Holdings in Entergy Co. (NYSE:ETR)

Convergence Investment Partners LLC increased its holdings in shares of Entergy Co. (NYSE:ETR) by 26.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,633 shares of the utilities provider’s stock after purchasing an additional 2,014 shares during the period. Convergence Investment Partners LLC’s holdings in Entergy were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Capital Research Global Investors acquired a new position in Entergy in the 1st quarter worth $119,365,000. Nuveen Asset Management LLC lifted its holdings in Entergy by 52.0% in the 1st quarter. Nuveen Asset Management LLC now owns 3,586,561 shares of the utilities provider’s stock worth $337,030,000 after buying an additional 1,226,391 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Entergy by 11.8% in the 1st quarter. JPMorgan Chase & Co. now owns 7,692,680 shares of the utilities provider’s stock worth $722,882,000 after buying an additional 814,839 shares in the last quarter. Pictet Asset Management Ltd. lifted its holdings in Entergy by 26.1% in the 1st quarter. Pictet Asset Management Ltd. now owns 3,907,655 shares of the utilities provider’s stock worth $367,202,000 after buying an additional 809,364 shares in the last quarter. Finally, Banco Santander S.A. acquired a new position in Entergy in the 1st quarter worth $55,467,000. 86.13% of the stock is owned by hedge funds and other institutional investors.

Shares of ETR traded up $0.49 during mid-day trading on Friday, reaching $105.13. 1,685,961 shares of the company’s stock traded hands, compared to its average volume of 1,070,879. The business’s 50-day moving average price is $97.55 and its 200-day moving average price is $106.16. The stock has a market capitalization of $21.04 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 3.30 and a beta of 0.55. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.49 and a current ratio of 0.58. Entergy Co. has a 12 month low of $75.19 and a 12 month high of $135.55.

Entergy (NYSE:ETR) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.11. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Entergy had a return on equity of 11.36% and a net margin of 11.95%. During the same quarter in the previous year, the company posted $1.35 earnings per share. Equities research analysts anticipate that Entergy Co. will post 5.58 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Thursday, August 13th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.54%. Entergy’s dividend payout ratio (DPR) is presently 68.89%.

A number of equities analysts have commented on ETR shares. Morgan Stanley boosted their price objective on shares of Entergy from $102.00 to $107.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Mizuho upped their target price on shares of Entergy from $95.00 to $113.00 and gave the company a “buy” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. cut their target price on shares of Entergy from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. KeyCorp cut their target price on shares of Entergy from $136.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Finally, Seaport Global Securities started coverage on shares of Entergy in a research note on Wednesday, May 20th. They issued a “buy” rating and a $108.00 target price on the stock. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $116.46.

About Entergy

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.

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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