Norges Bank Makes New $468.63 Million Investment in Entergy Corporation $ETR

Norges Bank acquired a new position in shares of Entergy Corporation (NYSE:ETR) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,637,971 shares of the utilities provider’s stock, valued at approximately $468,628,000. Norges Bank owned approximately 1.26% of Entergy as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Entergy by 275.6% in 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 in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Entergy during the first quarter worth approximately $367,000. Arkadios Wealth Advisors raised its holdings in Entergy by 22.0% during the first quarter. Arkadios Wealth Advisors now owns 7,058 shares of the utilities provider’s stock worth $603,000 after purchasing an additional 1,272 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Entergy by 10.6% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 3,748 shares of the utilities provider’s stock worth $320,000 after buying an additional 360 shares during the last quarter. Finally, NorthRock Partners LLC boosted its holdings in shares of Entergy by 13.8% in the 1st quarter. NorthRock Partners LLC now owns 3,508 shares of the utilities provider’s stock valued at $300,000 after buying an additional 426 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 5,136 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were 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 of the company’s stock, valued at approximately $762,253.50. The trade was a 39.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ralph Lewis Ropp acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were purchased at an average price of $96.69 per share, with a total value of $96,690.00. Following the transaction, the director owned 1,050 shares in the company, valued at $101,524.50. The trade was a 2,000.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 10,179 shares of company stock worth $981,707 over the last 90 days. 0.39% of the stock is currently owned by insiders.

Entergy Price Performance

Shares of NYSE:ETR opened at $97.49 on Friday. Entergy Corporation has a one year low of $73.15 and a one year high of $98.58. The stock has a market capitalization of $43.54 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 2.40 and a beta of 0.63. The company has a 50-day simple moving average of $95.24 and a 200-day simple moving average of $88.93. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71.

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

Entergy Increases Dividend

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

Analyst Ratings Changes

ETR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Barclays set a $100.00 price objective on shares of Entergy and gave the company an “overweight” rating in a research note on Monday, October 6th. Morgan Stanley set a $91.00 target price on Entergy in a research report on Thursday, November 20th. Citigroup boosted their target price on Entergy from $91.00 to $106.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. Finally, Scotiabank set a $105.00 target price on Entergy and gave the company an “outperform” rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.47.

Entergy Company 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.