Sciencast Management LP Makes New $1.94 Million Investment in Entergy Co. (NYSE:ETR)

Sciencast Management LP purchased a new stake in shares of Entergy Co. (NYSE:ETR) in the first quarter, Holdings Channel.com reports. The firm purchased 18,333 shares of the utilities provider’s stock, valued at approximately $1,937,000. Entergy accounts for approximately 1.2% of Sciencast Management LP’s investment portfolio, making the stock its 11th largest position.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Entergy by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 26,038,725 shares of the utilities provider’s stock worth $2,408,582,000 after buying an additional 104,803 shares during the last quarter. Franklin Resources Inc. increased its stake in Entergy by 25.2% in the fourth quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock valued at $400,901,000 after acquiring an additional 796,316 shares during the last quarter. ClearBridge Investments Ltd raised its position in Entergy by 29.3% during the fourth quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock valued at $315,254,000 after purchasing an additional 706,059 shares in the last quarter. Federated Hermes Inc. lifted its stake in Entergy by 9.8% during the fourth quarter. Federated Hermes Inc. now owns 2,904,933 shares of the utilities provider’s stock worth $293,950,000 after purchasing an additional 258,806 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Entergy by 10.5% in the 4th quarter. Capital Research Global Investors now owns 2,247,543 shares of the utilities provider’s stock worth $227,429,000 after purchasing an additional 214,102 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Activity at Entergy

In other news, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the transaction, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Reginald T. Jackson sold 9,229 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the sale, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Haley Fisackerly sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the transaction, the insider now directly owns 2,479 shares in the company, valued at approximately $273,260.17. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

ETR has been the topic of a number of recent research reports. BMO Capital Markets reduced their price target on shares of Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a research report on Monday. Mizuho upped their price target on shares of Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Morgan Stanley reduced their price objective on Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. KeyCorp increased their target price on Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, Scotiabank lowered their price objective on Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and a consensus price target of $113.50.

Entergy Stock Up 0.6 %

Shares of Entergy stock traded up $0.68 during trading on Friday, hitting $109.17. The company’s stock had a trading volume of 1,013,203 shares, compared to its average volume of 1,534,405. The company has a market capitalization of $23.31 billion, a PE ratio of 10.95, a P/E/G ratio of 2.00 and a beta of 0.71. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $114.28. The company has a fifty day simple moving average of $108.70 and a two-hundred day simple moving average of $104.62.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a return on equity of 10.20% and a net margin of 17.75%. The company had revenue of $31.17 billion during the quarter, compared to analysts’ expectations of $3.16 billion. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 EPS. Equities research analysts predict that Entergy Co. will post 7.22 earnings per share for the current year.

About Entergy

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.