Foundry Partners LLC Takes $291,000 Position in Entergy Co. (NYSE:ETR)

Foundry Partners LLC acquired a new position in shares of Entergy Co. (NYSE:ETR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,755 shares of the utilities provider’s stock, valued at approximately $291,000.

Other hedge funds have also bought and sold shares of the company. Tidemark LLC purchased a new position in Entergy in the fourth quarter worth about $25,000. Heritage Wealth Advisors raised its holdings in shares of Entergy by 2,172.7% during the first quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Entergy during the fourth quarter valued at approximately $35,000. CVA Family Office LLC purchased a new position in shares of Entergy during the fourth quarter valued at approximately $41,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Entergy by 40.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ETR shares. Wells Fargo & Company boosted their price objective on shares of Entergy from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. BMO Capital Markets decreased their price objective on shares of Entergy from $120.00 to $117.00 and set an “outperform” rating for the company in a report on Monday, July 8th. LADENBURG THALM/SH SH restated a “neutral” rating and set a $109.50 target price (down from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. KeyCorp boosted their target price on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Finally, Mizuho boosted their target price 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.50.

Insider Activity

In other news, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at $235,465.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at $235,465.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Haley Fisackerly sold 1,500 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the sale, 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. Insiders own 0.39% of the company’s stock.

Entergy Price Performance

Entergy stock traded down $0.49 during mid-day trading on Friday, reaching $110.24. 229,129 shares of the company’s stock traded hands, compared to its average volume of 1,516,492. The company has a market cap of $23.54 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 2.09 and a beta of 0.71. The stock has a 50 day moving average of $108.59 and a two-hundred day moving average of $104.85. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.68. Entergy Co. has a 12-month low of $87.10 and a 12-month high of $114.28.

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

Entergy 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.