Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Entergy Co. (NYSE:ETR) by 11.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,810 shares of the utilities provider’s stock after buying an additional 2,201 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Entergy were worth $2,137,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ETR. DekaBank Deutsche Girozentrale raised its stake in shares of Entergy by 2.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 17,214 shares of the utilities provider’s stock worth $1,506,000 after buying an additional 478 shares during the last quarter. Sawtooth Solutions LLC grew its holdings in Entergy by 17.9% during the first quarter. Sawtooth Solutions LLC now owns 6,552 shares of the utilities provider’s stock worth $627,000 after acquiring an additional 995 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Entergy during the first quarter worth about $128,000. Ontario Teachers Pension Plan Board acquired a new position in Entergy during the first quarter worth about $2,526,000. Finally, State of Tennessee Treasury Department grew its holdings in Entergy by 1.1% during the first quarter. State of Tennessee Treasury Department now owns 47,436 shares of the utilities provider’s stock worth $4,536,000 after acquiring an additional 494 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.
In other news, EVP A. Christopher Bakken III sold 6,750 shares of Entergy stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.00, for a total value of $729,000.00. Following the transaction, the executive vice president now owns 32,628 shares in the company, valued at approximately $3,523,824. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Leo P. Denault sold 24,211 shares of Entergy stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $2,663,210.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,156 shares of company stock worth $6,188,830. Corporate insiders own 0.27% of the company’s stock.
Entergy (NYSE:ETR) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $1.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.03). The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.98 billion. Entergy had a return on equity of 13.75% and a net margin of 8.97%. During the same quarter last year, the business posted $1.42 EPS. Research analysts predict that Entergy Co. will post 5.27 EPS for the current fiscal year.
ETR has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Entergy from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised Entergy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $105.00 to $116.00 in a research note on Monday, September 9th. Citigroup lifted their price target on Entergy from $109.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. ValuEngine cut Entergy from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, 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. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $108.44.
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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