8,866 Entergy Corporation $ETR Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its holdings in Entergy Corporation (NYSE:ETR) by 11.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,753 shares of the utilities provider’s stock after purchasing an additional 8,866 shares during the period. Rakuten Investment Management Inc.’s holdings in Entergy were worth $8,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Callan Family Office LLC acquired a new position in Entergy during the second quarter valued at $3,250,000. Nykredit A S acquired a new stake in Entergy during the 2nd quarter worth about $22,064,000. Illinois Municipal Retirement Fund boosted its position in Entergy by 18.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 180,358 shares of the utilities provider’s stock worth $20,265,000 after acquiring an additional 27,868 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Entergy during the 2nd quarter worth about $2,843,000. Finally, E. Ohman J or Asset Management AB grew its stake in Entergy by 27.6% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 21,797 shares of the utilities provider’s stock valued at $2,164,000 after acquiring an additional 4,710 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ETR. KeyCorp dropped their target price on Entergy from $123.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Evercore increased their price target on shares of Entergy from $121.00 to $128.00 and gave the stock an “outperform” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Entergy from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. LADENBURG THALM/SH SH lowered their price objective on shares of Entergy from $120.50 to $113.50 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, Wall Street Zen downgraded shares of Entergy from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Twenty investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $121.57.

Entergy Price Performance

Shares of NYSE:ETR opened at $110.49 on Friday. The firm has a market cap of $52.80 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 2.50 and a beta of 0.44. Entergy Corporation has a 1 year low of $90.87 and a 1 year high of $118.44. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 1.70. The business has a fifty day simple moving average of $104.69 and a 200 day simple moving average of $107.60.

Entergy (NYSE:ETR) last issued its earnings results on Monday, November 2nd. The utilities provider reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.25. Entergy had a return on equity of 11.44% and a net margin of 14.63%. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. As a group, sell-side analysts predict that Entergy Corporation will post 4.41 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a dividend of $0.68 per share. This is a boost from Entergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.5%. Entergy’s dividend payout ratio (DPR) is 58.85%.

Insider Activity

In other news, insider Laura Landreaux sold 5,600 shares of Entergy stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $106.20, for a total transaction of $594,720.00. Following the completion of the sale, the insider directly owned 22,589 shares in the company, valued at $2,398,951.80. The trade was a 19.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

About Entergy

Entergy Corporation is an integrated energy company that operates as a regulated electric utility. Through its operating companies, the company generates, transmits and distributes electricity to residential, commercial, industrial and governmental customers. Its generation portfolio includes nuclear, natural gas, renewable and other power resources, while its transmission and distribution networks deliver electricity across its service territories.

Entergy serves customers in Arkansas, Louisiana, Mississippi and Texas, including the New Orleans area through Entergy New Orleans.