New Millennium Group LLC Increases Position in Entergy Co. (NYSE:ETR)

New Millennium Group LLC increased its position in shares of Entergy Co. (NYSE:ETR) by 658.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,668 shares of the utilities provider’s stock after acquiring an additional 1,448 shares during the quarter. New Millennium Group LLC’s holdings in Entergy were worth $219,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in shares of Entergy by 47.1% during the second quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider’s stock worth $693,260,000 after purchasing an additional 2,075,776 shares during the last quarter. Capital International Investors boosted its stake in Entergy by 64.2% in the 1st quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock worth $440,690,000 after buying an additional 1,630,057 shares during the last quarter. Millennium Management LLC grew its holdings in Entergy by 185.5% in the 2nd quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider’s stock valued at $200,804,000 after buying an additional 1,219,419 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Entergy by 12.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider’s stock valued at $741,135,000 after acquiring an additional 763,834 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Entergy by 89.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider’s stock worth $114,876,000 after acquiring an additional 506,239 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Performance

Shares of ETR opened at $150.00 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy Co. has a 12-month low of $96.15 and a 12-month high of $156.85. The business’s fifty day moving average price is $135.56 and its 200 day moving average price is $120.49. The stock has a market capitalization of $32.16 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.49 and a beta of 0.71.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same quarter in the prior year, the firm earned $3.27 EPS. Equities research analysts forecast that Entergy Co. will post 7.21 EPS for the current year.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. Entergy’s dividend payout ratio is presently 58.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ETR shares. Barclays boosted their target price on shares of Entergy from $137.00 to $152.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on shares of Entergy from $131.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Mizuho raised their price objective on Entergy from $138.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Guggenheim increased their target price on Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.42.

Insider Buying and Selling

In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,092,241.93. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eliecer Viamontes sold 5,166 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.00, for a total transaction of $619,920.00. Following the transaction, the insider now owns 5,117 shares of the company’s stock, valued at $614,040. This represents a 50.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,472 shares of company stock valued at $5,076,328. Insiders own 0.54% of the company’s stock.

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.