The Adage Capital Partners GP L.L.C. Lowers Stake in Entergy Corp. (ETR)

The Adage Capital Partners GP L.L.C. Lowers Stake in Entergy Corp. (ETR)

Adage Capital Partners GP L.L.C. reduced its stake in Entergy Corp. (NYSE:ETR) by 74.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,199 shares of the company’s stock after selling 761,444 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.15% of Entergy Corp. worth $20,042,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ETR. Allianz Asset Management AG raised its stake in shares of Entergy Corp. by 246.9% in the second quarter. Allianz Asset Management AG now owns 3,548,491 shares of the company’s stock valued at $288,669,000 after buying an additional 2,525,637 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Entergy Corp. by 97.6% in the second quarter. AQR Capital Management LLC now owns 2,663,030 shares of the company’s stock valued at $216,637,000 after buying an additional 1,315,413 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Entergy Corp. during the second quarter valued at about $44,904,000. BlackRock Fund Advisors raised its stake in shares of Entergy Corp. by 5.9% in the second quarter. BlackRock Fund Advisors now owns 6,851,404 shares of the company’s stock valued at $557,362,000 after buying an additional 380,791 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its stake in shares of Entergy Corp. by 304.2% in the third quarter. State of Tennessee Treasury Department now owns 503,856 shares of the company’s stock valued at $38,661,000 after buying an additional 379,186 shares in the last quarter. 84.97% of the stock is owned by institutional investors and hedge funds.

Entergy Corp. (NYSE:ETR) opened at 71.89 on Thursday. The company’s 50 day moving average price is $71.82 and its 200-day moving average price is $75.34. The company has a market cap of $12.88 billion, a P/E ratio of 10.04 and a beta of 0.38. Entergy Corp. has a one year low of $65.64 and a one year high of $82.09.

Entergy Corp. (NYSE:ETR) last issued its earnings results on Tuesday, October 25th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.35. Entergy Corp. had a return on equity of 15.70% and a net margin of 12.20%. During the same quarter in the prior year, the firm posted $1.90 EPS. On average, analysts forecast that Entergy Corp. will post $6.88 EPS for the current fiscal year.

ETR has been the subject of several research reports. Wolfe Research lowered Entergy Corp. from a “market perform” rating to an “underperform” rating in a research note on Monday, October 24th. Deutsche Bank AG cut their target price on Entergy Corp. from $82.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, October 26th. Goldman Sachs Group Inc. set a $85.00 target price on Entergy Corp. and gave the stock a “buy” rating in a research note on Sunday, October 16th. Citigroup Inc. cut their target price on Entergy Corp. from $83.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, October 4th. Finally, Bank of America Corp. lowered Entergy Corp. from a “neutral” rating to an “underperform” rating and set a $64.00 target price for the company. in a research note on Tuesday, November 22nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $77.36.

Entergy Corp. Company Profile

Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. It operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.

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