Dimensional Fund Advisors LP Increases Position in Entergy Co. (ETR)
Dimensional Fund Advisors LP increased its stake in shares of Entergy Co. (NYSE:ETR) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 422,710 shares of the utilities provider’s stock after acquiring an additional 4,566 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Entergy were worth $34,153,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. LSV Asset Management increased its position in Entergy by 11.3% during the second quarter. LSV Asset Management now owns 6,327,956 shares of the utilities provider’s stock worth $511,235,000 after acquiring an additional 643,668 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in Entergy by 3.0% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,152,508 shares of the utilities provider’s stock worth $248,354,000 after acquiring an additional 91,361 shares during the period. Boston Partners increased its position in Entergy by 38.4% during the second quarter. Boston Partners now owns 2,824,231 shares of the utilities provider’s stock worth $228,170,000 after acquiring an additional 784,238 shares during the period. Allianz Asset Management GmbH increased its position in Entergy by 31.0% during the first quarter. Allianz Asset Management GmbH now owns 2,430,872 shares of the utilities provider’s stock worth $191,503,000 after acquiring an additional 574,799 shares during the period. Finally, Franklin Resources Inc. increased its position in Entergy by 5.3% during the first quarter. Franklin Resources Inc. now owns 1,989,086 shares of the utilities provider’s stock worth $156,700,000 after acquiring an additional 100,413 shares during the period. 87.22% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Haley Fisackerly sold 500 shares of the business’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $78.07, for a total value of $39,035.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexis M. Herman sold 661 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $83.76, for a total transaction of $55,365.36. The disclosure for this sale can be found here. Insiders sold a total of 37,877 shares of company stock worth $3,180,961 in the last three months. Insiders own 0.25% of the company’s stock.
Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.48. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.55 billion. Entergy had a net margin of 2.73% and a return on equity of 13.45%. During the same quarter in the previous year, the firm posted $3.11 EPS. analysts expect that Entergy Co. will post 6.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Thursday, August 9th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Wednesday, August 8th. Entergy’s dividend payout ratio (DPR) is presently 49.44%.
A number of equities analysts recently issued reports on ETR shares. Howard Weil started coverage on shares of Entergy in a research report on Tuesday, July 24th. They set a “sector perform” rating and a $84.00 target price on the stock. Morgan Stanley dropped their target price on shares of Entergy from $79.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 13th. Goldman Sachs Group raised shares of Entergy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $87.00 to $88.00 in a research report on Thursday, July 19th. Citigroup boosted their target price on shares of Entergy from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, June 20th. Finally, ValuEngine raised shares of Entergy from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Entergy currently has a consensus rating of “Buy” and an average price target of $87.71.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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