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

Kayne Anderson Capital Advisors LP purchased a new stake in Entergy Co. (NYSE:ETR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 266,730 shares of the utilities provider’s stock, valued at approximately $35,104,000. Entergy makes up about 0.9% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 20th biggest position.

A number of other large investors have also recently bought and sold shares of ETR. OneDigital Investment Advisors LLC grew its holdings in shares of Entergy by 2.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 69 shares during the last quarter. Bank & Trust Co increased its holdings in shares of Entergy by 12.8% during the third quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after buying an additional 90 shares in the last quarter. Prossimo Advisors LLC raised its stake in shares of Entergy by 1.5% in the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after acquiring an additional 90 shares during the last quarter. HBK Sorce Advisory LLC grew its position in Entergy by 2.3% during the 2nd quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock worth $436,000 after acquiring an additional 92 shares during the last quarter. Finally, Alliance Wealth Advisors LLC raised its position in Entergy by 3.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider’s stock valued at $341,000 after purchasing an additional 92 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction dated 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 owns 150,731 shares of the company’s stock, valued at approximately $18,092,241.93. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eliecer Viamontes sold 5,166 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the transaction, the insider now directly owns 5,117 shares of the company’s stock, valued at $614,040. This trade represents a 50.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,472 shares of company stock valued at $5,076,328 in the last three months. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ETR. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and upped their price target for the stock from $138.00 to $154.00 in a research report on Monday, November 4th. Argus raised shares of Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Scotiabank boosted their price objective on shares of Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, UBS Group boosted their target price on Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.96.

Entergy Price Performance

Shares of ETR 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. The firm has a market capitalization of $31.97 billion, a PE ratio of 18.16, a P/E/G ratio of 2.49 and a beta of 0.71. The stock has a 50 day simple moving average of $135.02 and a 200 day simple moving average of $120.19. Entergy Co. has a 52-week low of $96.15 and a 52-week high of $156.85.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period in the previous year, the company posted $3.27 earnings per share. Sell-side analysts predict that Entergy Co. will post 7.21 EPS for the current fiscal year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be paid a $1.20 dividend. This is a positive change from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, November 13th. Entergy’s payout ratio is presently 58.47%.

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.