Millennium Management LLC Purchases 1,219,419 Shares of Entergy Co. (NYSE:ETR)

Millennium Management LLC lifted its position in shares of Entergy Co. (NYSE:ETR - Free Report) by 185.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,876,672 shares of the utilities provider's stock after acquiring an additional 1,219,419 shares during the period. Millennium Management LLC owned approximately 0.88% of Entergy worth $200,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ETR. Ameriprise Financial Inc. increased its position 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 valued at $693,260,000 after acquiring an additional 2,075,776 shares in the last quarter. Capital International Investors increased its position in shares of Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider's stock valued at $440,690,000 after acquiring an additional 1,630,057 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of Entergy during the first quarter valued at approximately $92,257,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Entergy by 12.4% during the second 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 in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Entergy by 89.2% during the second quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider's stock valued at $114,876,000 after acquiring an additional 506,239 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on ETR. Guggenheim lifted their target price on shares of Entergy from $118.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. BMO Capital Markets lifted their target price on shares of Entergy from $124.00 to $131.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price 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. Bank of America lifted their target price on shares of Entergy from $135.00 to $138.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company lifted their target price on shares of Entergy from $125.00 to $137.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $127.81.

Insider Activity at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 7,922 shares of Entergy stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the transaction, the chief operating officer now owns 34,993 shares in the company, valued at approximately $4,549,090. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Entergy news, CEO Andrew S. Marsh sold 19,200 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.35, for a total value of $2,310,720.00. Following the sale, the chief executive officer now owns 150,731 shares in the company, valued at approximately $18,140,475.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Peter S. Norgeot, Jr. sold 7,922 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $130.00, for a total transaction of $1,029,860.00. Following the completion of the sale, the chief operating officer now owns 34,993 shares in the company, valued at approximately $4,549,090. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,810 shares of company stock worth $6,140,626. 0.39% of the stock is owned by corporate insiders.

Entergy Trading Down 0.1 %

Shares of Entergy stock opened at $129.58 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.62. Entergy Co. has a 1-year low of $87.10 and a 1-year high of $131.03. The company's fifty day simple moving average is $119.80 and its 200-day simple moving average is $111.44. The stock has a market capitalization of $27.67 billion, a PE ratio of 13.00, a P/E/G ratio of 2.46 and a beta of 0.73.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.16. Entergy had a net margin of 14.75% and a return on equity of 10.10%. The company had revenue of $2.95 billion for the quarter, compared to analysts' expectations of $2.98 billion. During the same quarter in the previous year, the company earned $1.84 EPS. As a group, equities analysts anticipate that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy's dividend payout ratio (DPR) is 45.34%.

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.

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