Magellan Asset Management Ltd Has $25.05 Million Position in Entergy Corporation $ETR

Magellan Asset Management Ltd increased its position in shares of Entergy Corporation (NYSE:ETR) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 301,351 shares of the utilities provider’s stock after buying an additional 10,755 shares during the quarter. Magellan Asset Management Ltd owned 0.07% of Entergy worth $25,048,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Entergy by 275.6% during the fourth quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider’s stock valued at $696,000 after purchasing an additional 6,733 shares during the period. D.A. Davidson & CO. acquired a new stake in Entergy during the first quarter worth $251,000. M&T Bank Corp increased its holdings in Entergy by 6.1% in the 1st quarter. M&T Bank Corp now owns 38,013 shares of the utilities provider’s stock valued at $3,250,000 after buying an additional 2,202 shares during the period. Greenleaf Trust raised its stake in shares of Entergy by 6.3% in the 1st quarter. Greenleaf Trust now owns 10,619 shares of the utilities provider’s stock valued at $908,000 after buying an additional 627 shares in the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in shares of Entergy during the 1st quarter worth about $276,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

ETR has been the topic of a number of analyst reports. Scotiabank set a $105.00 target price on shares of Entergy and gave the company an “outperform” rating in a research note on Friday, October 3rd. Mizuho upped their price objective on Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Wells Fargo & Company raised Entergy to a “strong-buy” rating in a report on Tuesday, October 28th. Jefferies Financial Group began coverage on Entergy in a research note on Thursday, September 4th. They issued a “buy” rating and a $109.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.37.

Insider Transactions at Entergy

In related news, insider Anastasia Minor sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the completion of the transaction, the insider owned 10,122 shares in the company, valued at $975,659.58. The trade was a 33.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Haley Fisackerly sold 5,136 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total value of $495,624.00. Following the transaction, the insider directly owned 7,899 shares in the company, valued at approximately $762,253.50. This represents a 39.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 10,324 shares of company stock valued at $994,902. Insiders own 0.39% of the company’s stock.

Entergy Trading Up 1.5%

Shares of ETR opened at $97.12 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71. The company has a market cap of $43.37 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.40 and a beta of 0.63. The stock has a fifty day moving average price of $93.06 and a two-hundred day moving average price of $87.65. Entergy Corporation has a 52-week low of $72.64 and a 52-week high of $98.58.

Entergy (NYSE:ETR) last announced its earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%.The company had revenue of $2.37 billion for the quarter. Analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.6%. The ex-dividend date is Thursday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $0.60. Entergy’s dividend payout ratio is 63.21%.

Entergy Profile

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.