Northern Trust Corp Has $198.01 Million Position in Entergy Co. (ETR)
Northern Trust Corp boosted its stake in shares of Entergy Co. (NYSE:ETR) by 2.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,450,865 shares of the utilities provider’s stock after purchasing an additional 67,513 shares during the quarter. Northern Trust Corp owned approximately 1.36% of Entergy worth $198,006,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in ETR. Wells Fargo & Company MN boosted its position in Entergy by 8.0% during the 1st quarter. Wells Fargo & Company MN now owns 635,300 shares of the utilities provider’s stock valued at $50,049,000 after purchasing an additional 46,910 shares during the period. US Bancorp DE raised its stake in Entergy by 25.7% during the 1st quarter. US Bancorp DE now owns 19,122 shares of the utilities provider’s stock valued at $1,507,000 after acquiring an additional 3,907 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in Entergy by 10.7% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 16,568 shares of the utilities provider’s stock valued at $1,305,000 after acquiring an additional 1,607 shares in the last quarter. Toronto Dominion Bank raised its stake in Entergy by 25.5% during the 1st quarter. Toronto Dominion Bank now owns 97,637 shares of the utilities provider’s stock valued at $7,689,000 after acquiring an additional 19,808 shares in the last quarter. Finally, Natixis Advisors L.P. raised its stake in Entergy by 4.5% during the 1st quarter. Natixis Advisors L.P. now owns 24,726 shares of the utilities provider’s stock valued at $1,948,000 after acquiring an additional 1,065 shares in the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.
ETR opened at $79.09 on Thursday. Entergy Co. has a one year low of $71.95 and a one year high of $87.95. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.42 and a current ratio of 0.57. The firm has a market capitalization of $14.50 billion, a PE ratio of 10.98, a PEG ratio of 1.79 and a beta of 0.48.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Thursday, August 9th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend was Wednesday, August 8th. Entergy’s dividend payout ratio is presently 49.44%.
ETR has been the topic of several recent analyst reports. Morgan Stanley cut their target price on Entergy from $87.00 to $85.00 and set a “hold” rating on the stock in a research note on Friday, September 21st. Scotiabank initiated coverage on Entergy in a research note on Tuesday, July 24th. They set a “hold” rating and a $84.00 target price on the stock. Bank of America lifted their target price on Entergy from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Zacks Investment Research raised Entergy from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. Finally, JPMorgan Chase & Co. lifted their target price on Entergy from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, August 29th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $88.63.
In other news, EVP Donald W. Vinci sold 5,200 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $85.00, for a total value of $442,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Paul D. Hinnenkamp sold 13,500 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $83.67, for a total value of $1,129,545.00. The disclosure for this sale can be found here. Insiders sold a total of 37,377 shares of company stock worth $3,141,926 in the last three months. Company insiders own 0.24% of the company’s stock.
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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