Van ECK Associates Corp Raises Position in Entergy Co. (ETR)

Van ECK Associates Corp lifted its holdings in shares of Entergy Co. (NYSE:ETR) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,568 shares of the utilities provider’s stock after purchasing an additional 898 shares during the quarter. Van ECK Associates Corp’s holdings in Entergy were worth $1,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Synovus Financial Corp acquired a new stake in shares of Entergy during the first quarter worth about $111,000. Braun Bostich & Associates Inc. raised its position in shares of Entergy by 1,320.4% during the second quarter. Braun Bostich & Associates Inc. now owns 1,392 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 1,294 shares during the period. Twin Tree Management LP acquired a new stake in shares of Entergy during the first quarter worth about $130,000. Whittier Trust Co. of Nevada Inc. raised its position in Entergy by 402.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,855 shares of the utilities provider’s stock valued at $152,000 after buying an additional 1,486 shares during the last quarter. Finally, Advisors Preferred LLC raised its position in Entergy by 200.8% in the 2nd quarter. Advisors Preferred LLC now owns 2,178 shares of the utilities provider’s stock valued at $176,000 after buying an additional 1,454 shares during the last quarter. 91.46% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on ETR. Morgan Stanley lifted their target price on Entergy from $83.00 to $87.00 and gave the company a “hold” rating in a research report on Tuesday, September 11th. Howard Weil began coverage on Entergy in a research report on Tuesday, July 24th. They issued a “sector perform” rating and a $84.00 target price on the stock. Scotiabank began coverage on Entergy in a research report on Tuesday, July 24th. They issued a “hold” rating and a $84.00 target price on the stock. Citigroup lifted their target price on Entergy from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, June 20th. Finally, Bank of America lifted their target price on Entergy from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $88.63.

In other news, insider Charles L. Rice, Jr. sold 5,766 shares of Entergy stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $82.70, for a total transaction of $476,848.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Paul D. Hinnenkamp sold 13,500 shares of Entergy stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $83.67, for a total value of $1,129,545.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,377 shares of company stock valued at $3,141,926 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

ETR stock opened at $83.64 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.57 and a debt-to-equity ratio of 1.85. Entergy Co. has a twelve month low of $71.95 and a twelve month high of $87.95. The company has a market capitalization of $14.67 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 1.81 and a beta of 0.49.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, August 1st. The utilities provider reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.48. Entergy had a return on equity of 13.45% and a net margin of 2.73%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the company posted $3.11 EPS. On average, research analysts predict that Entergy Co. will post 6.41 earnings per share for the current fiscal year.

Entergy Company Profile

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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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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