BTC Capital Management Inc. trimmed its holdings in Entergy Corporation (NYSE:ETR) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,990 shares of the utilities provider’s stock after selling 840 shares during the quarter. BTC Capital Management Inc.’s holdings in Entergy Corporation were worth $2,215,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ETR. Thrivent Financial For Lutherans lifted its stake in Entergy Corporation by 5.6% in the 1st quarter. Thrivent Financial For Lutherans now owns 6,600 shares of the utilities provider’s stock worth $501,000 after purchasing an additional 350 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Entergy Corporation by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 406,463 shares of the utilities provider’s stock worth $30,875,000 after purchasing an additional 9,521 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in Entergy Corporation by 6.6% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 14,141 shares of the utilities provider’s stock worth $1,086,000 after purchasing an additional 879 shares in the last quarter. Capstone Asset Management Co. lifted its stake in Entergy Corporation by 4.8% in the 2nd quarter. Capstone Asset Management Co. now owns 20,675 shares of the utilities provider’s stock worth $1,587,000 after purchasing an additional 944 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its stake in Entergy Corporation by 2.8% in the 2nd quarter. Gateway Investment Advisers LLC now owns 12,675 shares of the utilities provider’s stock worth $973,000 after purchasing an additional 349 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.
Entergy Corporation (ETR) traded down $1.29 during trading on Monday, reaching $85.13. 1,196,600 shares of the company traded hands, compared to its average volume of 1,207,776. Entergy Corporation has a 12-month low of $66.73 and a 12-month high of $87.85. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.78 and a quick ratio of 0.58. The firm has a market cap of $15,344.80, a P/E ratio of 12.59, a PEG ratio of 1.75 and a beta of 0.57.
Entergy Corporation (NYSE:ETR) last posted its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.11. Entergy Corporation had a negative net margin of 7.82% and a positive return on equity of 14.76%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm earned $2.31 EPS. research analysts predict that Entergy Corporation will post 6.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Wednesday, November 8th. This is an increase from Entergy Corporation’s previous quarterly dividend of $0.87. Entergy Corporation’s dividend payout ratio (DPR) is -72.06%.
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In other Entergy Corporation news, COO Paul D. Hinnenkamp sold 2,300 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald W. Vinci sold 3,234 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $87.00, for a total transaction of $281,358.00. Following the completion of the transaction, the executive vice president now owns 15,273 shares of the company’s stock, valued at approximately $1,328,751. The disclosure for this sale can be found here. Insiders sold a total of 40,578 shares of company stock valued at $3,408,022 in the last quarter. 0.24% of the stock is owned by insiders.
A number of research firms have weighed in on ETR. TheStreet raised shares of Entergy Corporation from a “c” rating to a “b-” rating in a research note on Friday, October 27th. Mizuho reaffirmed a “hold” rating and set a $83.00 price target on shares of Entergy Corporation in a research report on Friday, October 27th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $96.00 price target (up previously from $90.00) on shares of Entergy Corporation in a research report on Wednesday, October 25th. Bank of America Corporation started coverage on shares of Entergy Corporation in a research report on Tuesday, October 24th. They set a “neutral” rating and a $86.00 price target on the stock. Finally, Jefferies Group LLC raised shares of Entergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 16th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $82.42.
Entergy Corporation 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. 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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