Hudson Edge Investment Partners Inc. Raises Stake in Entergy Co. (NYSE:ETR)

Hudson Edge Investment Partners Inc. lifted its position in shares of Entergy Co. (NYSE:ETR) by 15.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 58,497 shares of the utilities provider’s stock after buying an additional 7,714 shares during the period. Entergy accounts for approximately 1.2% of Hudson Edge Investment Partners Inc.’s portfolio, making the stock its 13th largest holding. Hudson Edge Investment Partners Inc.’s holdings in Entergy were worth $6,259,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Tidemark LLC purchased a new position in shares of Entergy during the 4th quarter worth $25,000. Iron Horse Wealth Management LLC purchased a new position in Entergy during the second quarter worth about $25,000. Heritage Wealth Advisors boosted its stake in Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock worth $26,000 after buying an additional 239 shares during the last quarter. American National Bank grew its holdings in Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after buying an additional 134 shares during the period. Finally, TruNorth Capital Management LLC acquired a new position in shares of Entergy during the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Down 0.3 %

Entergy stock traded down $0.41 during midday trading on Friday, hitting $121.90. 1,523,795 shares of the company were exchanged, compared to its average volume of 1,521,238. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. Entergy Co. has a fifty-two week low of $87.10 and a fifty-two week high of $123.73. The company’s fifty day moving average price is $114.55 and its 200-day moving average price is $109.14. The company has a market cap of $26.03 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.73.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. On average, research analysts predict that Entergy Co. will post 7.2 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s payout ratio is 45.34%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. KeyCorp boosted their target price on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Guggenheim upped their price objective on Entergy from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays cut their target price on Entergy from $116.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $109.50 price target (down previously from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Finally, Argus upgraded Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.04.

Insider Transactions at Entergy

In related news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the completion of the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Andrew S. Marsh sold 3,200 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $121.46, for a total value of $388,672.00. Following the sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at $18,307,787.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares in the company, valued at $4,363,182.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,638 shares of company stock valued at $4,712,446. 0.39% of the stock is currently owned by insiders.

Entergy Company 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.