Entergy Co. (NYSE:ETR) Shares Acquired by Viking Fund Management LLC

by · The Markets Daily

Viking Fund Management LLC raised its holdings in Entergy Co. (NYSE:ETR – Free Report) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,600 shares of the utilities provider’s stock after purchasing an additional 5,000 shares during the quarter. Entergy accounts for approximately 2.6% of Viking Fund Management LLC’s investment portfolio, making the stock its 4th biggest position. Viking Fund Management LLC owned about 0.06% of Entergy worth $16,267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC acquired a new stake in Entergy in the second quarter valued at approximately $25,000. Heritage Wealth Advisors increased its holdings 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 purchasing an additional 239 shares in the last quarter. American National Bank raised its position in Entergy by 93.7% in the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 134 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of Entergy during the second quarter valued at about $32,000. Finally, Rothschild Investment LLC bought a new stake in shares of Entergy during the second quarter worth about $34,000. Institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ETR. Argus upgraded shares of Entergy to a “strong-buy” rating in a research report on Wednesday, August 28th. Bank of America boosted their price objective on shares of Entergy from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company raised their target price on Entergy from $125.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Scotiabank upped their price target on Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets raised their price objective on Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.50.

View Our Latest Research Report on Entergy

Insider Activity

In related news, CEO Andrew S. Marsh sold 3,200 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 3,200 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $121.46, for a total value of $388,672.00. Following the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,307,787.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares of the company’s stock, valued at $4,363,182.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,810 shares of company stock worth $6,140,626 over the last three months. 0.39% of the stock is currently owned by insiders.

Entergy Stock Up 1.2 %

ETR traded up $1.58 during midday trading on Friday, hitting $130.64. The company had a trading volume of 879,433 shares, compared to its average volume of 1,571,335. The stock’s 50 day moving average price is $123.94 and its 200 day moving average price is $113.82. Entergy Co. has a 52 week low of $90.78 and a 52 week high of $133.38. The company has a market capitalization of $27.90 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 2.46 and a beta of 0.74. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR – Get Free Report) last issued its earnings results on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the company posted $1.84 EPS. On average, research analysts anticipate that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 annualized dividend and a yield of 3.46%. Entergy’s payout ratio is 45.34%.

Entergy Company Profile

(Free Report)

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.

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