Archer Investment Corp Sells 3,600 Shares of Entergy Corporation (NYSE:ETR)

Archer Investment Corp trimmed its position in shares of Entergy Corporation (NYSE:ETR) by 37.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the utilities provider’s stock after selling 3,600 shares during the period. Archer Investment Corp’s holdings in Entergy were worth $513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legacy Financial Advisors Inc. boosted its stake in shares of Entergy by 60.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider’s stock worth $1,219,000 after purchasing an additional 6,028 shares during the period. Bank of Montreal Can raised its stake in shares of Entergy by 74.3% during the 4th quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider’s stock worth $50,869,000 after acquiring an additional 286,005 shares in the last quarter. Horizon Investment Services LLC raised its stake in shares of Entergy by 95.3% during the 4th quarter. Horizon Investment Services LLC now owns 4,319 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 2,108 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Entergy by 25.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider’s stock worth $6,708,000 after acquiring an additional 15,892 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its stake in shares of Entergy by 85.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,178 shares of the utilities provider’s stock worth $317,000 after acquiring an additional 1,931 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Up 1.8%

ETR stock traded up $1.52 during midday trading on Friday, reaching $86.06. 382,784 shares of the company were exchanged, compared to its average volume of 3,551,029. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.55 and a current ratio of 0.82. Entergy Corporation has a 1-year low of $55.01 and a 1-year high of $88.38. The stock’s 50-day simple moving average is $82.22 and its 200 day simple moving average is $82.27. The company has a market cap of $37.07 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 2.28 and a beta of 0.59.

Entergy (NYSE:ETR) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.60 by $0.22. Entergy had a net margin of 11.26% and a return on equity of 11.43%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the firm earned $0.54 EPS. On average, equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ETR. UBS Group upped their price target on shares of Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, March 21st. KeyCorp upped their price objective on shares of Entergy from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James Financial started coverage on shares of Entergy in a report on Friday, June 13th. They set a “market perform” rating on the stock. Morgan Stanley decreased their price objective on shares of Entergy from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 18th. Finally, Barclays decreased their price objective on shares of Entergy from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.46.

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.