Swiss National Bank Boosts Position in Entergy Corporation $ETR

Swiss National Bank increased its position in shares of Entergy Corporation (NYSE:ETR) by 8.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,310,800 shares of the utilities provider’s stock after acquiring an additional 101,400 shares during the quarter. Swiss National Bank’s holdings in Entergy were worth $108,954,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Mattson Financial Services LLC boosted its holdings in Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Atwood & Palmer Inc. raised its position in shares of Entergy by 135.7% during the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after buying an additional 190 shares during the period. GoalVest Advisory LLC lifted its holdings in Entergy by 5,733.3% in the second quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 344 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in Entergy in the second quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Entergy during the second quarter worth $31,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ralph Lewis Ropp purchased 1,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were bought at an average price of $96.69 per share, for a total transaction of $96,690.00. Following the acquisition, the director directly owned 1,050 shares in the company, valued at $101,524.50. This trade represents a 2,000.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 5,136 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total value of $495,624.00. Following the completion of the sale, the insider directly owned 7,899 shares in the company, valued at $762,253.50. This represents a 39.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 10,179 shares of company stock worth $981,707. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ETR. BMO Capital Markets reaffirmed an “outperform” rating and issued a $104.00 price target (up previously from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. Mizuho upped their target price on shares of Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. increased their target price on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. KeyCorp reissued an “overweight” rating and issued a $106.00 price target (up from $96.00) on shares of Entergy in a research note on Wednesday, October 15th. Finally, Scotiabank set a $105.00 price objective on shares of Entergy and gave the stock an “outperform” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.47.

Entergy Stock Performance

NYSE ETR opened at $93.70 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.52. The company has a market cap of $41.85 billion, a P/E ratio of 23.14, a P/E/G ratio of 2.40 and a beta of 0.63. The stock has a 50-day moving average of $94.46 and a two-hundred day moving average of $88.45. Entergy Corporation has a 1-year low of $73.15 and a 1-year high of $98.58.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The business had revenue of $2.37 billion during the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. As a group, analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.7%. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, November 13th. Entergy’s payout ratio is presently 63.21%.

About Entergy

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.