Tredje AP fonden trimmed its position in shares of Entergy Corporation (NYSE:ETR) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,057 shares of the utilities provider’s stock after selling 260 shares during the period. Tredje AP fonden’s holdings in Entergy Corporation were worth $235,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its position in Entergy Corporation by 46.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 410 shares during the period. V Wealth Management LLC purchased a new stake in Entergy Corporation during the 2nd quarter worth $106,000. Parallel Advisors LLC boosted its position in Entergy Corporation by 291.6% during the 1st quarter. Parallel Advisors LLC now owns 2,377 shares of the utilities provider’s stock worth $182,000 after purchasing an additional 1,770 shares during the period. Tiedemann Wealth Management LLC purchased a new stake in Entergy Corporation during the 1st quarter worth $203,000. Finally, IBM Retirement Fund boosted its position in Entergy Corporation by 34.1% during the 2nd quarter. IBM Retirement Fund now owns 2,669 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 678 shares during the period. Institutional investors and hedge funds own 84.07% of the company’s stock.
In other Entergy Corporation news, Director Alexis M. Herman sold 995 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.38, for a total value of $75,998.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sallie T. Rainer sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $77.78, for a total transaction of $77,780.00. The disclosure for this sale can be found here. Insiders sold a total of 3,495 shares of company stock worth $271,313 over the last 90 days. Company insiders own 0.24% of the company’s stock.
Entergy Corporation (NYSE ETR) opened at 78.87 on Friday. Entergy Corporation has a 12 month low of $66.71 and a 12 month high of $81.83. The company’s market cap is $14.16 billion. The stock’s 50 day moving average is $78.23 and its 200 day moving average is $77.05.
Entergy Corporation (NYSE:ETR) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $1.91. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.44 billion. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. During the same period last year, the business posted $3.16 EPS. Equities analysts predict that Entergy Corporation will post $6.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 10th were given a $0.87 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $3.48 annualized dividend and a yield of 4.41%. Entergy Corporation’s dividend payout ratio is -69.74%.
A number of analysts recently weighed in on ETR shares. ValuEngine raised shares of Entergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Zacks Investment Research cut shares of Entergy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Jefferies Group LLC reaffirmed a “hold” rating and set a $78.00 price target on shares of Entergy Corporation in a research report on Thursday, July 6th. Morgan Stanley upped their price target on shares of Entergy Corporation from $82.00 to $84.00 and gave the stock an “underweight” rating in a research report on Friday, September 8th. Finally, Wells Fargo & Company upped their price target on shares of Entergy Corporation from $83.50 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $78.33.
About Entergy Corporation
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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