Kayne Anderson Capital Advisors LP Makes New $35.10 Million Investment in Entergy Co. (NYSE:ETR)

Kayne Anderson Capital Advisors LP purchased a new position in shares of Entergy Co. (NYSE:ETR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 266,730 shares of the utilities provider’s stock, valued at approximately $35,104,000. Entergy comprises about 0.9% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 20th largest position. Kayne Anderson Capital Advisors LP owned 0.12% of Entergy as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of ETR. Fortitude Family Office LLC grew its position in Entergy by 423.8% in the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares during the last quarter. Cetera Trust Company N.A acquired a new stake in Entergy in the 3rd quarter valued at approximately $29,000. Iron Horse Wealth Management LLC bought a new position in shares of Entergy in the second quarter worth $25,000. Coastline Trust Co bought a new stake in shares of Entergy during the third quarter valued at about $31,000. Finally, American National Bank raised its stake in shares of Entergy by 93.7% during 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 in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley raised shares of Entergy from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $116.00 to $150.00 in a research note on Monday, November 4th. Barclays boosted their target price on Entergy from $137.00 to $152.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Argus raised Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. KeyCorp raised their target price on Entergy from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Entergy Stock Up 1.4 %

Entergy stock opened at $149.12 on Monday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. Entergy Co. has a twelve month low of $96.15 and a twelve month high of $156.85. The firm’s 50 day moving average price is $135.02 and its two-hundred day moving average price is $120.19. The firm has a market cap of $31.97 billion, a PE ratio of 18.16, a P/E/G ratio of 2.49 and a beta of 0.71.

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

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio (DPR) is 58.47%.

Insider Activity

In other news, insider Eliecer Viamontes sold 200 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $147.00, for a total value of $29,400.00. Following the sale, the insider now owns 4,173 shares in the company, valued at approximately $613,431. This trade represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 4,134 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $149.03, for a total transaction of $616,090.02. Following the transaction, the insider now owns 2,016 shares of the company’s stock, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,472 shares of company stock valued at $5,076,328 over the last 90 days. 0.39% of the stock is currently owned by company 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.