Lord Abbett & CO. LLC Has $254.43 Million Stock Holdings in Entergy Corporation (NYSE:ETR)

Lord Abbett & CO. LLC lessened its position in Entergy Corporation (NYSE:ETR) by 3.7% during the first quarter, Holdings Channel reports. The institutional investor owned 2,976,083 shares of the utilities provider’s stock after selling 114,565 shares during the quarter. Entergy comprises approximately 0.9% of Lord Abbett & CO. LLC’s portfolio, making the stock its 22nd largest holding. Lord Abbett & CO. LLC’s holdings in Entergy were worth $254,425,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Glen Eagle Advisors LLC boosted its stake in Entergy by 100.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 180 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Entergy in the 1st quarter valued at $28,000. Fourth Dimension Wealth LLC acquired a new position in Entergy in the 4th quarter valued at $30,000. Grove Bank & Trust raised its holdings in shares of Entergy by 188.5% during the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider’s stock worth $30,000 after buying an additional 230 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Entergy during the 1st quarter worth $32,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ETR. Barclays lowered their price target on Entergy from $91.00 to $87.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. BMO Capital Markets upped their price target on Entergy from $89.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. upped their price target on Entergy from $100.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. KeyCorp restated an “overweight” rating and set a $96.00 target price (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Finally, Mizuho set a $97.00 target price on Entergy and gave the company an “outperform” rating in a research report on Thursday, July 31st. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the sale, the insider owned 3,318 shares of the company’s stock, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

Entergy Stock Performance

Shares of Entergy stock opened at $90.95 on Thursday. The business has a 50 day moving average price of $84.84 and a 200-day moving average price of $83.66. Entergy Corporation has a 52 week low of $58.19 and a 52 week high of $92.40. The company has a market cap of $40.60 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 2.47 and a beta of 0.57. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.14. Entergy had a return on equity of 11.52% and a net margin of 14.35%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the company earned $1.92 earnings per share. Equities analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy’s dividend payout ratio (DPR) is presently 59.85%.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.