Entergy Corporation (ETR) Holdings Cut by First Trust Advisors LP
First Trust Advisors LP lowered its stake in shares of Entergy Corporation (NYSE:ETR) by 8.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,209 shares of the utilities provider’s stock after selling 23,425 shares during the quarter. First Trust Advisors LP owned about 0.14% of Entergy Corporation worth $19,411,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. boosted its position in Entergy Corporation by 1.0% during the second quarter. BlackRock Inc. now owns 16,243,801 shares of the utilities provider’s stock worth $1,247,035,000 after purchasing an additional 154,117 shares during the period. AJO LP boosted its position in Entergy Corporation by 16.0% during the second quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock worth $270,119,000 after purchasing an additional 485,602 shares during the period. Epoch Investment Partners Inc. boosted its position in Entergy Corporation by 1.1% during the second quarter. Epoch Investment Partners Inc. now owns 3,273,973 shares of the utilities provider’s stock worth $251,343,000 after purchasing an additional 35,312 shares during the period. Franklin Resources Inc. boosted its position in Entergy Corporation by 43.9% during the second quarter. Franklin Resources Inc. now owns 1,888,643 shares of the utilities provider’s stock worth $144,991,000 after purchasing an additional 576,426 shares during the period. Finally, Legal & General Group Plc boosted its position in Entergy Corporation by 6.1% during the second quarter. Legal & General Group Plc now owns 1,133,779 shares of the utilities provider’s stock worth $87,047,000 after purchasing an additional 65,491 shares during the period. 83.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Entergy Corporation (NYSE:ETR) opened at $87.00 on Monday. Entergy Corporation has a 12-month low of $66.71 and a 12-month high of $87.85. 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 capitalization of $15,681.87, a P/E ratio of 12.87, a PEG ratio of 1.79 and a beta of 0.57.
Entergy Corporation (NYSE:ETR) last issued its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.13 billion. Entergy Corporation had a positive return on equity of 14.76% and a negative net margin of 7.82%. During the same period in the prior year, the company posted $2.31 earnings per share. sell-side analysts anticipate that Entergy Corporation will post 6.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.09%. This is a positive change from Entergy Corporation’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Wednesday, November 8th. Entergy Corporation’s dividend payout ratio is presently -70.45%.
In related news, COO Paul D. Hinnenkamp sold 2,500 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $86.00, for a total value of $215,000.00. Following the completion of the transaction, the chief operating officer now directly owns 23,425 shares in the company, valued at $2,014,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Haley Fisackerly sold 500 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $77.17, for a total value of $38,585.00. The disclosure for this sale can be found here. Insiders sold 33,044 shares of company stock valued at $2,747,649 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.
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A number of brokerages have issued reports on ETR. Wells Fargo & Company reaffirmed an “outperform” rating and set a $96.00 target price (up previously from $90.00) on shares of Entergy Corporation in a research report on Wednesday, October 25th. TheStreet raised Entergy Corporation from a “c” rating to a “b-” rating in a research report on Friday, October 27th. BidaskClub raised Entergy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $78.00 target price on shares of Entergy Corporation in a research report on Friday, August 4th. Finally, Mizuho reaffirmed a “hold” rating and set a $83.00 target price on shares of Entergy Corporation in a research report on Friday, October 27th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $82.42.
About Entergy Corporation
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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