Steward Partners Investment Advisory LLC acquired a new position in Entergy Co. (NYSE:ETR) during the third quarter, according to its most recent filing with the SEC. The firm acquired 9,602 shares of the utilities provider’s stock, valued at approximately $733,000.
Several other hedge funds have also modified their holdings of ETR. Franklin Resources Inc. grew its position in shares of Entergy by 43.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,888,643 shares of the utilities provider’s stock worth $144,991,000 after buying an additional 576,426 shares during the last quarter. AJO LP boosted its position in shares of Entergy by 16.0% during the second quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock valued at $270,119,000 after purchasing an additional 485,602 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Entergy by 99.4% during the second quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock valued at $69,296,000 after purchasing an additional 449,986 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Entergy by 71.1% during the second quarter. Parametric Portfolio Associates LLC now owns 973,379 shares of the utilities provider’s stock valued at $74,726,000 after purchasing an additional 404,399 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Entergy by 283.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 326,226 shares of the utilities provider’s stock valued at $25,015,000 after purchasing an additional 241,100 shares in the last quarter. Hedge funds and other institutional investors own 82.95% of the company’s stock.
Several equities research analysts recently weighed in on the company. Morgan Stanley lifted their price target on Entergy from $86.00 to $88.00 and gave the company an “equal weight” rating in a research report on Wednesday. Bank of America upgraded Entergy from a “neutral” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Tuesday, December 12th. TheStreet lowered Entergy from a “b-” rating to a “c+” rating in a research report on Wednesday, December 6th. Mizuho upgraded Entergy from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $96.00 price target (up from $90.00) on shares of Entergy in a research report on Wednesday, October 25th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $83.17.
In other Entergy news, EVP Marcus V. Brown sold 3,000 shares of Entergy stock in a transaction on Monday, November 13th. The stock was sold at an average price of $86.42, for a total transaction of $259,260.00. Following the completion of the transaction, the executive vice president now owns 22,264 shares in the company, valued at $1,924,054.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Paul D. Hinnenkamp sold 2,300 shares of Entergy stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $84.00, for a total value of $193,200.00. The disclosure for this sale can be found here. Insiders have sold 57,812 shares of company stock valued at $4,907,522 in the last quarter. 0.24% of the stock is owned by company insiders.
Entergy Co. (ETR) opened at $83.80 on Friday. The stock has a market capitalization of $15,105.04, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.73 and a beta of 0.55. Entergy Co. has a one year low of $69.63 and a one year high of $87.95. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.58 and a current ratio of 0.78.
Entergy (NYSE:ETR) last announced its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.24 by $0.11. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. During the same quarter in the previous year, the business earned $2.31 earnings per share. equities research analysts forecast that Entergy Co. will post 6.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 9th were paid a dividend of $0.89 per share. This is a boost from Entergy’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 4.25%. Entergy’s payout ratio is presently -72.06%.
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Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company 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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