DNB Asset Management AS Raises Stake in Entergy Corporation $ETR

DNB Asset Management AS raised its holdings in shares of Entergy Corporation (NYSE:ETR) by 53.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,372 shares of the utilities provider’s stock after acquiring an additional 70,487 shares during the period. DNB Asset Management AS’s holdings in Entergy were worth $16,738,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Choreo LLC lifted its holdings in Entergy by 12.3% in the first quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock worth $816,000 after buying an additional 1,042 shares during the period. First American Trust FSB bought a new position in shares of Entergy in the 1st quarter worth approximately $3,896,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Entergy by 26.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock valued at $8,219,000 after purchasing an additional 19,862 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Entergy during the first quarter valued at approximately $32,658,000. Finally, Empowered Funds LLC grew its stake in Entergy by 369.8% in the first quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock worth $7,352,000 after purchasing an additional 67,696 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Insider Activity

In other Entergy news, insider Haley Fisackerly sold 5,136 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total transaction of $495,624.00. Following the transaction, the insider owned 7,899 shares in the company, valued at approximately $762,253.50. This represents a 39.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anastasia Minor sold 5,000 shares of Entergy stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the sale, the insider owned 10,122 shares of the company’s stock, valued at $975,659.58. This represents a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,179 shares of company stock valued at $981,707 over the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

Entergy Trading Up 0.4%

Shares of NYSE ETR opened at $93.70 on Friday. The firm’s 50 day moving average price is $94.46 and its 200-day moving average price is $88.42. Entergy Corporation has a 52-week low of $73.15 and a 52-week high of $98.58. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71. The company has a market cap of $41.85 billion, a PE ratio of 23.14, a P/E/G ratio of 2.40 and a beta of 0.63.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. The company had revenue of $2.37 billion during the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. On average, equities research analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be paid a $0.64 dividend. This is an increase from Entergy’s previous quarterly dividend of $0.60. This represents a $2.56 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, November 13th. Entergy’s dividend payout ratio (DPR) is presently 63.21%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ETR shares. KeyCorp reissued an “overweight” rating and set a $106.00 price objective (up previously from $96.00) on shares of Entergy in a research report on Wednesday, October 15th. Scotiabank set a $105.00 price objective on shares of Entergy and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Royal Bank Of Canada upgraded shares of Entergy to a “moderate buy” rating in a report on Tuesday, October 28th. BMO Capital Markets reiterated an “outperform” rating and set a $104.00 target price (up from $96.00) on shares of Entergy in a report on Tuesday, October 14th. Finally, BTIG Research raised Entergy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Entergy presently has an average rating of “Moderate Buy” and an average price target of $102.47.

Entergy Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.