Mediolanum International Funds Ltd Takes $562,000 Position in Entergy Co. (NYSE:ETR)

Mediolanum International Funds Ltd acquired a new position in shares of Entergy Co. (NYSE:ETR) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,363 shares of the utilities provider’s stock, valued at approximately $562,000.

Other hedge funds have also recently made changes to their positions in the company. Tidemark LLC bought a new position in Entergy in the fourth quarter worth about $25,000. Fortis Group Advisors LLC bought a new stake in shares of Entergy in the 3rd quarter valued at about $32,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Entergy in the 4th quarter worth approximately $35,000. CVA Family Office LLC purchased a new stake in Entergy during the fourth quarter valued at approximately $41,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in Entergy by 40.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 110 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of recent analyst reports. Mizuho upped their price target on Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Scotiabank decreased their price target on Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company boosted their price target on Entergy from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. KeyCorp upped their price objective on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, Barclays upped their price target on shares of Entergy from $107.00 to $116.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.50.

Entergy Stock Performance

Shares of NYSE:ETR traded up $0.97 during midday trading on Wednesday, reaching $105.92. The company’s stock had a trading volume of 1,291,820 shares, compared to its average volume of 1,539,293. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.68. The stock has a fifty day moving average of $108.67 and a 200 day moving average of $104.52. Entergy Co. has a twelve month low of $87.10 and a twelve month high of $114.28. The firm has a market capitalization of $22.62 billion, a PE ratio of 10.62, a P/E/G ratio of 1.98 and a beta of 0.71.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.36). The company had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. Entergy had a return on equity of 10.20% and a net margin of 17.75%. Entergy’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. On average, equities analysts expect that Entergy Co. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the sale, the insider now owns 2,479 shares in the company, valued at $273,260.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Entergy news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the sale, the insider now directly owns 2,479 shares in the company, valued at approximately $273,260.17. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Reginald T. Jackson sold 9,229 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now owns 2,166 shares in the company, valued at approximately $235,465.86. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

About Entergy

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.