Principal Financial Group Inc. reduced its stake in shares of Entergy Corporation (NYSE:ETR – Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 632,837 shares of the utilities provider’s stock after selling 8,240 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Entergy worth $71,106,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ETR. Vanguard Group Inc. grew its stake in shares of Entergy by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 58,537,223 shares of the utilities provider’s stock worth $5,410,596,000 after purchasing an additional 589,317 shares in the last quarter. State Street Corp grew its holdings in shares of Entergy by 4.4% in the 4th quarter. State Street Corp now owns 24,356,461 shares of the utilities provider’s stock worth $2,251,268,000 after acquiring an additional 1,018,503 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Entergy by 54.9% during the 4th quarter. JPMorgan Chase & Co. now owns 22,694,994 shares of the utilities provider’s stock worth $2,097,699,000 after buying an additional 8,046,287 shares during the period. Geode Capital Management LLC raised its holdings in shares of Entergy by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 11,607,806 shares of the utilities provider’s stock valued at $1,068,725,000 after acquiring an additional 126,625 shares during the period. Finally, Morgan Stanley raised its stake in Entergy by 22.9% during the 4th quarter. Morgan Stanley now owns 10,651,436 shares of the utilities provider’s stock valued at $984,512,000 after purchasing an additional 1,986,369 shares during the period. Institutional investors own 88.07% of the company’s stock.
Entergy Stock Up 0.4%
ETR opened at $114.71 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.73 and a current ratio of 0.96. The firm has a market cap of $52.52 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 1.95 and a beta of 0.50. Entergy Corporation has a twelve month low of $83.14 and a twelve month high of $118.44. The firm’s 50-day simple moving average is $112.17 and its 200-day simple moving average is $106.90.
Wall Street Analyst Weigh In
ETR has been the topic of a number of research reports. BTIG Research reiterated a “buy” rating and issued a $126.00 target price on shares of Entergy in a report on Wednesday, June 10th. JPMorgan Chase & Co. boosted their price target on Entergy from $129.00 to $139.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of Entergy from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Jefferies Financial Group restated a “buy” rating on shares of Entergy in a research note on Wednesday, June 10th. Finally, Wall Street Zen upgraded shares of Entergy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Seventeen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.21.
View Our Latest Analysis on ETR
Insider Buying and Selling
In other Entergy news, insider Haley Fisackerly sold 10,638 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total value of $1,170,180.00. Following the completion of the sale, the insider owned 14,182 shares in the company, valued at approximately $1,560,020. This trade represents a 42.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is currently owned by corporate insiders.
About Entergy
Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.
Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.
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