Nomura Asset Management Co. Ltd. Grows Holdings in Entergy Co. (ETR)
Nomura Asset Management Co. Ltd. grew its position in Entergy Co. (NYSE:ETR) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,658 shares of the utilities provider’s stock after acquiring an additional 1,147 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Entergy were worth $3,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Entergy by 30.2% in the 4th quarter. FMR LLC now owns 3,335,411 shares of the utilities provider’s stock worth $287,079,000 after buying an additional 773,770 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Entergy by 3.0% in the first quarter. State of Alaska Department of Revenue now owns 105,762 shares of the utilities provider’s stock worth $10,112,000 after buying an additional 3,045 shares during the last quarter. Investec Asset Management North America Inc. boosted its stake in shares of Entergy by 106.0% in the first quarter. Investec Asset Management North America Inc. now owns 14,126 shares of the utilities provider’s stock worth $1,351,000 after buying an additional 7,270 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Entergy by 2.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 241,116 shares of the utilities provider’s stock worth $23,058,000 after buying an additional 5,409 shares during the last quarter. Finally, CWM Advisors LLC boosted its stake in shares of Entergy by 1.9% in the fourth quarter. CWM Advisors LLC now owns 6,479 shares of the utilities provider’s stock worth $558,000 after buying an additional 123 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.
ETR stock opened at $97.07 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.70 and a debt-to-equity ratio of 1.91. The firm has a market cap of $18.40 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 2.63 and a beta of 0.36. Entergy Co. has a 52-week low of $75.83 and a 52-week high of $99.84.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $3.64 annualized dividend and a yield of 3.75%. Entergy’s dividend payout ratio (DPR) is 49.79%.
In other Entergy news, insider Haley Fisackerly sold 2,200 shares of Entergy stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $99.00, for a total transaction of $217,800.00. Following the completion of the sale, the insider now directly owns 4,648 shares of the company’s stock, valued at approximately $460,152. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Leo P. Denault sold 44,279 shares of Entergy stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $97.50, for a total value of $4,317,202.50. The disclosure for this sale can be found here. Insiders sold 131,908 shares of company stock valued at $12,796,428 over the last ninety days. Insiders own 0.27% of the company’s stock.
A number of analysts have recently commented on the company. Morgan Stanley upgraded Entergy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, April 18th. Macquarie set a $100.00 target price on Entergy and gave the stock a “buy” rating in a research note on Thursday, May 2nd. ValuEngine upgraded Entergy from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Zacks Investment Research downgraded Entergy from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Co increased their price target on Entergy from $99.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, February 21st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $93.50.
Entergy Company Profile
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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