LMR Partners LLP Buys Shares of 2,500 Entergy Corporation (NYSE:ETR)

LMR Partners LLP purchased a new position in shares of Entergy Corporation (NYSE:ETR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,500 shares of the utilities provider’s stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ETR. Braun Stacey Associates Inc. raised its stake in Entergy by 11.0% during the third quarter. Braun Stacey Associates Inc. now owns 190,991 shares of the utilities provider’s stock worth $25,136,000 after purchasing an additional 18,850 shares during the period. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Entergy during the 3rd quarter worth approximately $35,104,000. Swiss National Bank raised its position in shares of Entergy by 0.4% during the 3rd quarter. Swiss National Bank now owns 633,700 shares of the utilities provider’s stock valued at $83,401,000 after buying an additional 2,300 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Entergy by 21.4% in the third quarter. Thrivent Financial for Lutherans now owns 986,546 shares of the utilities provider’s stock valued at $129,840,000 after acquiring an additional 174,093 shares during the last quarter. Finally, Claro Advisors LLC purchased a new position in Entergy in the third quarter worth approximately $303,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Performance

Shares of ETR opened at $150.71 on Thursday. Entergy Corporation has a 1 year low of $96.15 and a 1 year high of $156.85. The stock has a market capitalization of $32.31 billion, a PE ratio of 18.36, a PEG ratio of 2.49 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The stock has a 50-day simple moving average of $136.69 and a 200-day simple moving average of $120.99.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the firm earned $3.27 earnings per share. On average, analysts predict that Entergy Corporation will post 7.21 earnings per share for the current fiscal year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio is 58.47%.

Insider Buying and Selling at Entergy

In related news, insider Eliecer Viamontes sold 5,166 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the transaction, the insider now directly owns 5,117 shares of the company’s stock, valued at $614,040. This trade represents a 50.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $122.56, for a total transaction of $398,320.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares of the company’s stock, valued at approximately $4,288,742.08. This trade represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,472 shares of company stock worth $5,076,328 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ETR. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $116.00 to $150.00 in a research note on Monday, November 4th. KeyCorp upped their target price on shares of Entergy from $143.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Argus upgraded shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Mizuho lifted their target price on shares of Entergy from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.42.

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.