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

Convergence Investment Partners LLC raised its stake in Entergy Co. (NYSE:ETR) by 26.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,633 shares of the utilities provider’s stock after acquiring 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 SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Entergy by 11.8% during the first quarter. JPMorgan Chase & Co. now owns 7,692,680 shares of the utilities provider’s stock valued at $722,882,000 after purchasing an additional 814,839 shares in the last quarter. Pictet Asset Management Ltd. increased its position in Entergy by 26.1% in the first 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. Nuveen Asset Management LLC increased its position in Entergy by 52.0% in the first 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. Geode Capital Management LLC grew its position in shares of Entergy by 1.9% during the first quarter. Geode Capital Management LLC now owns 3,273,746 shares of the utilities provider’s stock worth $307,066,000 after purchasing an additional 60,174 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Entergy by 1.9% during the first quarter. Legal & General Group Plc now owns 2,653,835 shares of the utilities provider’s stock worth $249,709,000 after purchasing an additional 49,205 shares in the last quarter. 86.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ETR traded up $0.49 during mid-day trading on Friday, hitting $105.13. The company had a trading volume of 1,685,961 shares, compared to its average volume of 1,070,879. The company has a market capitalization of $21.04 billion, a PE 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 current ratio of 0.58 and a quick ratio of 0.49. Entergy Co. has a 1-year low of $75.19 and a 1-year high of $135.55. The business’s 50-day simple moving average is $97.55 and its 200 day simple moving average is $106.16.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. Entergy had a return on equity of 11.36% and a net margin of 11.95%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the company posted $1.35 earnings per share. On average, analysts expect that Entergy Co. will post 5.58 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Thursday, August 13th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.54%. Entergy’s dividend payout ratio is currently 68.89%.

Several equities analysts have weighed in on ETR shares. UBS Group upgraded Entergy from a “neutral” rating to a “buy” rating and cut their price target for the company from $140.00 to $125.00 in a report on Friday, June 5th. Morgan Stanley raised their price objective on Entergy from $102.00 to $107.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Argus raised Entergy from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Monday, April 27th. Royal Bank of Canada reaffirmed a “buy” rating and set a $109.00 target price on shares of Entergy in a research report on Thursday, April 30th. Finally, BMO Capital Markets raised Entergy from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $115.00 to $107.00 in a research report on Thursday, May 21st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Entergy presently has a consensus rating of “Buy” and a consensus target price 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.

Further Reading: What does the Producer Price Index (PPI) tell investors?

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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