Entergy Co. (ETR) Position Boosted by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC lifted its stake in Entergy Co. (NYSE:ETR) by 125.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,851 shares of the utilities provider’s stock after purchasing an additional 18,294 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Entergy were worth $2,509,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Castleton Investment Management LLC purchased a new stake in Entergy in the 2nd quarter worth about $16,800,000. Principal Financial Group Inc. lifted its stake in Entergy by 99.4% in the 2nd quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock worth $69,296,000 after acquiring an additional 449,986 shares in the last quarter. BlackRock Inc. lifted its stake in Entergy by 1.0% in the 2nd quarter. BlackRock Inc. now owns 16,243,801 shares of the utilities provider’s stock worth $1,247,035,000 after acquiring an additional 154,117 shares in the last quarter. Prudential Financial Inc. lifted its stake in Entergy by 4.3% in the 2nd quarter. Prudential Financial Inc. now owns 585,575 shares of the utilities provider’s stock worth $44,954,000 after acquiring an additional 23,946 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Entergy by 3.3% in the 2nd quarter. Swiss National Bank now owns 655,522 shares of the utilities provider’s stock worth $50,324,000 after acquiring an additional 20,800 shares in the last quarter. Institutional investors and hedge funds own 82.95% of the company’s stock.
Entergy Co. (NYSE ETR) traded up $0.06 on Thursday, hitting $83.32. The stock had a trading volume of 1,228,500 shares, compared to its average volume of 1,211,835. Entergy Co. has a 52 week low of $69.63 and a 52 week high of $87.95. 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 stock has a market cap of $15,004.13, a P/E ratio of 12.31, a PEG ratio of 1.72 and a beta of 0.55.
Entergy (NYSE:ETR) last posted its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.11. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the business earned $2.31 EPS. equities analysts forecast that Entergy Co. will post 6.91 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 9th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Wednesday, November 8th. This is an increase from Entergy’s previous quarterly dividend of $0.87. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.27%. Entergy’s dividend payout ratio (DPR) is -72.06%.
In related news, insider Sallie T. Rainer sold 6,300 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $82.00, for a total value of $516,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles L. Rice, Jr. sold 9,234 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $86.24, for a total value of $796,340.16. The disclosure for this sale can be found here. Insiders have sold a total of 57,812 shares of company stock valued at $4,907,522 over the last ninety days. Company insiders own 0.24% of the company’s stock.
ETR has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Entergy from $82.00 to $84.00 and gave the stock an “underweight” rating in a research note on Friday, September 8th. Citigroup raised Entergy from a “neutral” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Friday, October 13th. BidaskClub raised Entergy from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Mizuho reissued a “hold” rating and issued a $83.00 price objective on shares of Entergy in a research note on Friday, October 27th. Finally, J P Morgan Chase & Co increased their price objective on Entergy from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $83.17.
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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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