Entergy Co. (ETR) Stake Increased by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC lifted its position in shares of Entergy Co. (NYSE:ETR) by 9.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,878 shares of the utilities provider’s stock after buying an additional 2,288 shares during the period. Janney Montgomery Scott LLC’s holdings in Entergy were worth $1,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC increased its holdings in shares of Entergy by 2.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock worth $179,000 after buying an additional 49 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Entergy by 3.0% during the 2nd quarter. Parallel Advisors LLC now owns 2,448 shares of the utilities provider’s stock worth $188,000 after buying an additional 71 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Entergy during the 2nd quarter worth approximately $204,000. Buckingham Asset Management LLC acquired a new stake in shares of Entergy during the 3rd quarter worth approximately $212,000. Finally, American Asset Management Inc. acquired a new stake in shares of Entergy during the 2nd quarter worth approximately $239,000. Institutional investors and hedge funds own 82.81% of the company’s stock.
Shares of Entergy Co. (NYSE:ETR) opened at $82.69 on Tuesday. Entergy Co. has a 1-year low of $69.63 and a 1-year 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 firm has a market cap of $15,105.07, a P/E ratio of 12.40, a P/E/G ratio of 1.73 and a beta of 0.55.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 9th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 4.31%. The ex-dividend date was Wednesday, November 8th. This is a boost from Entergy’s previous quarterly dividend of $0.87. Entergy’s dividend payout ratio (DPR) is currently -72.06%.
In other Entergy news, EVP Marcus V. Brown sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $82.00, for a total value of $123,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sallie T. Rainer sold 6,300 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $82.00, for a total transaction of $516,600.00. The disclosure for this sale can be found here. Insiders sold a total of 57,812 shares of company stock valued at $4,907,522 in the last three months. 0.24% of the stock is currently owned by corporate insiders.
ETR has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Entergy from a “c” rating to a “b-” rating in a report on Friday, October 27th. BidaskClub upgraded shares of Entergy from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Jefferies Group upgraded shares of Entergy from a “hold” rating to a “buy” rating in a report on Monday, October 16th. Citigroup upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $91.00 target price for the company in a report on Friday, October 13th. Finally, Mizuho upgraded shares of Entergy from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $83.17.
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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