CIBC Asset Management Inc Buys 62 Shares of Entergy Corporation (ETR)
CIBC Asset Management Inc increased its stake in shares of Entergy Corporation (NYSE:ETR) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,961 shares of the utilities provider’s stock after buying an additional 62 shares during the period. CIBC Asset Management Inc’s holdings in Entergy Corporation were worth $1,456,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Entergy Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock valued at $1,513,680,000 after buying an additional 470,255 shares during the period. BlackRock Inc. raised its position in shares of Entergy Corporation by 3,574.9% in the first quarter. BlackRock Inc. now owns 16,089,684 shares of the utilities provider’s stock worth $1,222,173,000 after buying an additional 15,651,863 shares during the period. State Street Corp raised its position in shares of Entergy Corporation by 1.2% in the first quarter. State Street Corp now owns 9,721,185 shares of the utilities provider’s stock worth $738,419,000 after buying an additional 115,341 shares during the period. Ameriprise Financial Inc. raised its position in shares of Entergy Corporation by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 4,461,044 shares of the utilities provider’s stock worth $338,859,000 after buying an additional 305,111 shares during the period. Finally, FMR LLC raised its position in shares of Entergy Corporation by 6.9% in the first quarter. FMR LLC now owns 3,488,914 shares of the utilities provider’s stock worth $265,018,000 after buying an additional 225,184 shares during the period. 83.29% of the stock is owned by institutional investors.
Shares of Entergy Corporation (NYSE:ETR) opened at 76.84 on Friday. The firm’s market capitalization is $13.79 billion. Entergy Corporation has a 52-week low of $66.71 and a 52-week high of $81.83. The firm has a 50-day moving average price of $76.59 and a 200-day moving average price of $75.84.
Entergy Corporation (NYSE:ETR) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $1.91. The business had revenue of $2.62 billion during 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 quarter last year, the business posted $3.16 earnings per share. On average, equities research analysts anticipate that Entergy Corporation will post $5.71 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Tuesday, August 8th. Entergy Corporation’s dividend payout ratio is currently -69.74%.
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A number of brokerages recently issued reports on ETR. BMO Capital Markets reissued a “hold” rating and issued a $78.00 price objective on shares of Entergy Corporation in a report on Friday, August 4th. BidaskClub raised Entergy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine raised Entergy Corporation from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley increased their price objective on Entergy Corporation from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Zacks Investment Research raised Entergy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.77.
In related news, Director Alexis M. Herman sold 995 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.38, for a total value of $75,998.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Haley Fisackerly sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $75.92, for a total transaction of $45,552.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,095 shares of company stock valued at $160,135. 0.24% of the stock is currently owned by company insiders.
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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