Korea Investment CORP Sells 70,165 Shares of Entergy Co. (ETR)
Korea Investment CORP cut its position in Entergy Co. (NYSE:ETR) by 74.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,639 shares of the utilities provider’s stock after selling 70,165 shares during the quarter. Korea Investment CORP’s holdings in Entergy were worth $1,999,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Braun Bostich & Associates Inc. raised its holdings in Entergy by 1,320.4% in the second quarter. Braun Bostich & Associates Inc. now owns 1,392 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 1,294 shares in the last quarter. Advisors Preferred LLC raised its holdings in Entergy by 200.8% in the second quarter. Advisors Preferred LLC now owns 2,178 shares of the utilities provider’s stock worth $176,000 after purchasing an additional 1,454 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in Entergy by 65.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,191 shares of the utilities provider’s stock worth $177,000 after purchasing an additional 869 shares in the last quarter. ELM Advisors LLC bought a new position in Entergy in the third quarter worth about $178,000. Finally, Segment Wealth Management LLC bought a new position in Entergy in the third quarter worth about $202,000. Institutional investors and hedge funds own 91.31% of the company’s stock.
A number of equities research analysts have recently weighed in on ETR shares. Wells Fargo & Co boosted their price target on Entergy from $91.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, September 17th. Bank of America boosted their price target on Entergy from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, November 1st. Citigroup boosted their price target on Entergy from $88.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Zacks Investment Research restated a “strong-buy” rating and set a $97.00 price target on shares of Entergy in a research note on Tuesday, November 13th. Finally, JPMorgan Chase & Co. boosted their price target on Entergy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 29th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $89.63.
Shares of ETR stock opened at $88.25 on Friday. Entergy Co. has a fifty-two week low of $71.95 and a fifty-two week high of $89.43. The stock has a market cap of $16.12 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.82 and a beta of 0.42. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.49 and a current ratio of 0.64.
Entergy (NYSE:ETR) last issued its earnings results on Wednesday, October 31st. The utilities provider reported $3.77 EPS for the quarter, beating the Zacks’ consensus estimate of $2.83 by $0.94. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $2.85 billion. Entergy had a return on equity of 16.94% and a net margin of 4.01%. During the same quarter in the prior year, the firm earned $2.35 earnings per share. Sell-side analysts predict that Entergy Co. will post 6.98 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Thursday, November 8th were given a $0.91 dividend. The ex-dividend date was Wednesday, November 7th. This represents a $3.64 dividend on an annualized basis and a yield of 4.12%. This is a positive change from Entergy’s previous quarterly dividend of $0.89. Entergy’s dividend payout ratio is currently 50.56%.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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