Skandinaviska Enskilda Banken AB publ Reduces Stake in Entergy Co. (NYSE:ETR)
Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Entergy Co. (NYSE:ETR) by 1.7% during the 1st quarter, HoldingsChannel reports. The fund owned 27,581 shares of the utilities provider’s stock after selling 476 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Entergy were worth $2,592,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Entergy by 0.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,821 shares of the utilities provider’s stock valued at $1,536,000 after purchasing an additional 80 shares during the last quarter. Mason Street Advisors LLC raised its holdings in Entergy by 0.3% during the 4th quarter. Mason Street Advisors LLC now owns 28,407 shares of the utilities provider’s stock valued at $3,403,000 after buying an additional 80 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Entergy by 6.9% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,637 shares of the utilities provider’s stock valued at $196,000 after buying an additional 106 shares during the period. CWM LLC lifted its position in Entergy by 24.2% in the first quarter. CWM LLC now owns 631 shares of the utilities provider’s stock worth $59,000 after buying an additional 123 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its position in shares of Entergy by 4.0% during the first quarter. Eqis Capital Management Inc. now owns 3,196 shares of the utilities provider’s stock valued at $422,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 86.24% of the company’s stock.
A number of research firms recently weighed in on ETR. Mizuho upped their price objective on shares of Entergy from $95.00 to $113.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Royal Bank of Canada reissued a “buy” rating and set a $109.00 price objective on shares of Entergy in a report on Thursday, April 30th. Morgan Stanley upped their target price on Entergy from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 17th. Citigroup downgraded Entergy from a “buy” rating to a “neutral” rating and set a $102.00 price target on the stock. in a report on Thursday, April 2nd. Finally, JPMorgan Chase & Co. cut their target price on Entergy from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $116.92.
Entergy (NYSE:ETR) last released its quarterly earnings results on Monday, May 11th. The utilities provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.22. Entergy had a return on equity of 11.40% and a net margin of 10.50%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. As a group, analysts forecast that Entergy Co. will post 5.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, May 7th were given a dividend of $0.93 per share. The ex-dividend date was Wednesday, May 6th. This represents a $3.72 annualized dividend and a dividend yield of 3.97%. Entergy’s dividend payout ratio (DPR) is presently 68.89%.
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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