Bessemer Group Inc. Has $860,000 Stock Holdings in Entergy Corporation $ETR

Bessemer Group Inc. cut its holdings in shares of Entergy Corporation (NYSE:ETR) by 52.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,349 shares of the utilities provider’s stock after selling 11,370 shares during the quarter. Bessemer Group Inc.’s holdings in Entergy were worth $860,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Mattson Financial Services LLC increased its holdings in shares of Entergy by 100.0% in the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Atwood & Palmer Inc. boosted its holdings in shares of Entergy by 135.7% during the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after buying an additional 190 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Entergy in the 1st quarter valued at about $28,000. GoalVest Advisory LLC raised its holdings in Entergy by 5,733.3% in the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 344 shares during the period. Finally, Wayfinding Financial LLC bought a new position in Entergy in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Performance

ETR opened at $96.17 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71. Entergy Corporation has a 52-week low of $70.21 and a 52-week high of $98.58. The firm has a market cap of $42.93 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62. The business’s fifty day moving average is $92.31 and its 200-day moving average is $87.17.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. The business had revenue of $2.37 billion during the quarter. Sell-side analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ETR. Royal Bank Of Canada raised Entergy to a “moderate buy” rating in a research report on Tuesday. Wells Fargo & Company raised Entergy to a “strong-buy” rating in a report on Tuesday. KeyCorp reiterated an “overweight” rating and set a $106.00 price objective (up previously from $96.00) on shares of Entergy in a research report on Wednesday, October 15th. Mizuho boosted their target price on shares of Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Entergy in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and an average price target of $102.37.

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.