Entergy Co. (ETR) Shares Bought by Sun Life Financial INC
Sun Life Financial INC increased its stake in Entergy Co. (NYSE:ETR) by 190.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 21,471 shares of the utilities provider’s stock after purchasing an additional 14,078 shares during the quarter. Sun Life Financial INC’s holdings in Entergy were worth $1,748,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in shares of Entergy by 190.5% during the 4th quarter. Acadian Asset Management LLC now owns 30,030 shares of the utilities provider’s stock worth $2,444,000 after buying an additional 19,693 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Entergy by 13.2% during the 3rd quarter. Janus Henderson Group PLC now owns 105,648 shares of the utilities provider’s stock worth $8,067,000 after buying an additional 12,285 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Entergy by 12.0% during the 3rd quarter. Toronto Dominion Bank now owns 68,321 shares of the utilities provider’s stock worth $5,216,000 after buying an additional 7,298 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Entergy by 200.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,427 shares of the utilities provider’s stock worth $10,615,000 after buying an additional 87,031 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Entergy during the 3rd quarter worth about $1,595,000. 82.31% of the stock is owned by hedge funds and other institutional investors.
ETR has been the subject of a number of recent research reports. Guggenheim restated a “buy” rating and set a $94.00 price objective (up from $88.00) on shares of Entergy in a research note on Friday, February 23rd. Wells Fargo & Co restated an “outperform” rating and set a $90.00 price objective (down from $96.00) on shares of Entergy in a research note on Monday, February 26th. They noted that the move was a valuation call. Bank of America upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Tuesday, December 12th. Morgan Stanley reduced their price objective on shares of Entergy from $82.00 to $76.00 and set a “hold” rating for the company in a research note on Tuesday, February 13th. Finally, UBS Group initiated coverage on shares of Entergy in a research note on Friday, February 2nd. They set a “neutral” rating and a $82.00 price objective for the company. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Entergy currently has an average rating of “Buy” and an average target price of $82.57.
Entergy (NYSE:ETR) last issued its earnings results on Friday, February 23rd. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.34. Entergy had a net margin of 3.81% and a return on equity of 15.79%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the business posted $0.31 EPS. equities analysts predict that Entergy Co. will post 4.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 8th were issued a $0.89 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $3.56 annualized dividend and a yield of 4.65%. Entergy’s dividend payout ratio is currently 156.14%.
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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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