On September 18, 2023, it was reported that Nordea Investment Management AB has reduced its stake in shares of Entergy Co. (NYSE:ETR) by 6.3% during the second quarter. According to the company’s most recent 13F filing with the Securities and Exchange Commission (SEC), Nordea Investment Management AB now owns 333,393 shares of the utilities provider’s stock after selling 22,569 shares during the quarter. As of its most recent filing with the SEC, Nordea Investment Management AB owned 0.16% of Entergy worth $32,226,000.
Entergy (NYSE:ETR) recently announced its quarterly earnings results on August 2nd. The utilities provider reported earnings per share (EPS) of $1.84 for the quarter, surpassing analysts’ consensus estimates of $1.69 by $0.15. The company also achieved a net margin of 10.22% and a return on equity of 10.22%. However, its revenue for the quarter reached $2.85 billion, falling short compared to analyst estimates of $3.26 billion.
Compared to the same quarter last year when the firm posted $1.78 earnings per share, Entergy exhibited growth in its financial performance this year.
Despite Nordea Investment Management AB reducing its stake in Entergy Co., it is important to note that these decisions are often part of a broader investment strategy and may not necessarily reflect negatively on the company’s outlook or financial health.
Looking ahead, research analysts forecast that Entergy Co. will post an EPS of 6.69 for the current fiscal year.
Investors and market participants who are interested in further analysis may consider consulting reputable sources or conducting their own research before making any investment decisions regarding Entergy Co.’s stock.
It is crucial to stay aware of market trends and corporate developments as they can impact the financial performance and valuation of companies like Entergy Co.
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Institutional Investors and Hedge Funds Show Strong Interest in Entergy Stock on September 18, 2023
On September 18, 2023, it was revealed that several hedge funds and institutional investors have been actively buying and selling shares of the company Entergy. One such investor, Federated Hermes Inc., saw a massive increase in its position in Entergy during the first quarter, with a growth rate of 25,465.1%. This surge led Federated Hermes Inc. to now own a staggering 2,398,774 shares of Entergy’s stock, amounting to a value of $258,444,000.
Another notable institution that experienced growth in its position in Entergy is State Street Corp. State Street Corp saw an 8.1% increase in its ownership during the first quarter and now possesses 12,122,596 shares of the utilities provider’s stock. These shares are valued at approximately $1,415,313,000.
Price T Rowe Associates Inc. MD also reported a significant increase in its stake in Entergy during the first quarter. Their ownership grew by 64.5%, and they now hold approximately 1,944,167 shares worth $209,465,000.
Additionally, Millennium Management LLC increased its position in Entergy by 86.0% during the fourth quarter of last year. They currently own 1,633,335 shares worth an estimated $183,750,000.
Bank of America Corp DE joined these institutions by raising their stake in Entergy as well. Bank of America Corp DE witnessed a modest increase of 9.0% and currently owns 9,045,944 shares valued at $974,6100 million.
Overall findings show that approximately 86.52% of Entergy’s stock is owned by institutional investors and hedge funds.
Several research firms have also published reports regarding Entergy’s performance and outlook. StockNews.com recently initiated coverage on the company with a “hold” rating. Royal Bank of Canada reduced their price target on the shares from $126.00 to $117.00 and maintained an “outperform” rating. Barclays, in their report, assigned Entergy an “equal weight” rating with a price target of $98.00.
On another note, Morgan Stanley downgraded Entergy’s rating to “underweight” and lowered their target price from $102.00 to $94.00. Guggenheim also revised their price objective downward, from $124.00 to $110.00.
In light of these ratings, one analyst has rated the stock as a sell while four analysts suggest holding it, and seven have urged buying it. According to Bloomberg.com data, the average rating for Entergy is “Moderate Buy,” with a consensus target price of $113.50.
Turning to recent news related to Entergy, Executive Vice President Marcus V. Brown sold 13,500 shares of the company’s stock on September 12th at an average price of $95.40 per share. As a result of this transaction, Brown now holds 9,251 shares valued at approximately $882,545.
As for its trading activity on September 18th, Entergy Co., listed under NYSE:ETR, opened at a price of $98.40 per share.
It is important to note that over the past year, Entergy’s stock has fluctuated between its 52-week low of $91.80 and its 52-week high of $120.78.
Considering key financial metrics indicate that Entergy has a debt-to-equity ratio of 1.84 along with a quick ratio of 0.54 and a current ratio of 0.80; it remains evident that this utilities provider continues to navigate through marketplace challenges effectively.
With regards to market capitalization value calculations back on September 18th last year state figures indicated that Entergy had reached a substantial value of $20.81 billion.
When delving into valuation ratios, it is worth noting that as of September 18th, Entergy indicated a price-to-earnings (P/E) ratio of 15.00 and a notable price-to-earnings growth (P/E/G) ratio of 2.61. The company also featured a beta coefficient valued at 0.65.
It is important to consider all these factors when assessing the performance and potential of Entergy within the utilities sector on September 18, 2023.
