Geode Capital Management LLC Raises Holdings in Entergy Co. (ETR)

Geode Capital Management LLC grew its holdings in shares of Entergy Co. (NYSE:ETR) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,475,894 shares of the utilities provider’s stock after purchasing an additional 168,371 shares during the quarter. Geode Capital Management LLC’s holdings in Entergy were worth $212,751,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Entergy during the fourth quarter worth about $27,000. Investec Asset Management PTY Ltd bought a new position in Entergy during the fourth quarter worth about $37,000. CWM LLC boosted its position in Entergy by 176.4% during the fourth quarter. CWM LLC now owns 445 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 284 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Entergy by 8,450.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,844,755 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 5,776,402 shares during the period. Finally, Fort L.P. boosted its position in Entergy by 25.8% during the fourth quarter. Fort L.P. now owns 1,150 shares of the utilities provider’s stock worth $99,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 88.53% of the company’s stock.

In other Entergy news, EVP Marcus V. Brown sold 14,291 shares of Entergy stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $98.00, for a total transaction of $1,400,518.00. Following the completion of the sale, the executive vice president now directly owns 39,477 shares in the company, valued at $3,868,746. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $92.59, for a total transaction of $138,885.00. Following the sale, the insider now owns 2,434 shares of the company’s stock, valued at $225,364.06. The disclosure for this sale can be found here. Insiders sold 145,317 shares of company stock valued at $14,018,970 over the last 90 days. 0.27% of the stock is owned by company insiders.

A number of equities analysts have weighed in on the stock. Morgan Stanley upgraded shares of Entergy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, April 18th. Macquarie set a $100.00 target price on shares of Entergy and gave the stock a “buy” rating in a research report on Thursday, May 2nd. ValuEngine upgraded shares of Entergy from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research lowered shares of Entergy from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $91.00 price objective on shares of Entergy in a research report on Wednesday, January 23rd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $93.50.

ETR stock opened at $98.49 on Thursday. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.70 and a quick ratio of 0.52. Entergy Co. has a 12 month low of $75.83 and a 12 month high of $98.56. The company has a market capitalization of $18.52 billion, a PE ratio of 13.47, a PEG ratio of 2.64 and a beta of 0.40.

Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.12). Entergy had a net margin of 9.04% and a return on equity of 15.17%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the business posted $0.83 earnings per share. Equities research analysts predict that Entergy Co. will post 5.28 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 9th will be given a $0.91 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.70%. Entergy’s dividend payout ratio (DPR) is currently 49.79%.

COPYRIGHT VIOLATION NOTICE: This article was published by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this article on another website, it was stolen and reposted in violation of international trademark and copyright laws. The correct version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/05/23/geode-capital-management-llc-raises-holdings-in-entergy-co-etr.html.

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.

Read More: What is a Call Option?

Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Co. (NYSE:ETR).

Institutional Ownership by Quarter for Entergy (NYSE:ETR)

Receive News & Ratings for Entergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entergy and related companies with MarketBeat.com's FREE daily email newsletter.