TD Asset Management Inc. Has $28.65 Million Stake in Entergy Corporation (ETR)
TD Asset Management Inc. cut its stake in Entergy Corporation (NYSE:ETR) by 32.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 373,231 shares of the utilities provider’s stock after selling 179,600 shares during the period. TD Asset Management Inc.’s holdings in Entergy Corporation were worth $28,653,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Entergy Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock valued at $1,513,680,000 after buying an additional 470,255 shares in the last quarter. BlackRock Inc. increased its position in Entergy Corporation by 3,574.9% in the first quarter. BlackRock Inc. now owns 16,089,684 shares of the utilities provider’s stock valued at $1,222,173,000 after buying an additional 15,651,863 shares in the last quarter. State Street Corp increased its position in Entergy Corporation by 1.2% in the first quarter. State Street Corp now owns 9,721,185 shares of the utilities provider’s stock valued at $738,419,000 after buying an additional 115,341 shares in the last quarter. Ameriprise Financial Inc. increased its position in Entergy Corporation by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 4,461,044 shares of the utilities provider’s stock valued at $338,859,000 after buying an additional 305,111 shares in the last quarter. Finally, FMR LLC increased its position in Entergy Corporation by 6.9% in the first quarter. FMR LLC now owns 3,488,914 shares of the utilities provider’s stock valued at $265,018,000 after buying an additional 225,184 shares in the last quarter. Hedge funds and other institutional investors own 83.29% of the company’s stock.
Shares of Entergy Corporation (NYSE:ETR) opened at 76.84 on Friday. Entergy Corporation has a 52-week low of $66.71 and a 52-week high of $81.83. The firm’s 50-day moving average price is $76.59 and its 200 day moving average price is $75.84. The company’s market capitalization is $13.79 billion.
Entergy Corporation (NYSE:ETR) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $1.91. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the company posted $3.16 EPS. On average, equities analysts forecast that Entergy Corporation will post $5.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Tuesday, August 8th. Entergy Corporation’s dividend payout ratio (DPR) is currently -69.74%.
ETR has been the topic of several analyst reports. ValuEngine upgraded Entergy Corporation from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research downgraded Entergy Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Mizuho decreased their price objective on Entergy Corporation from $79.00 to $76.00 and set a “neutral” rating on the stock in a report on Friday, April 28th. Jefferies Group LLC reiterated a “hold” rating and issued a $78.00 price objective on shares of Entergy Corporation in a report on Thursday, July 6th. Finally, Morgan Stanley lifted their price objective on Entergy Corporation from $77.00 to $78.00 and gave the stock an “underweight” rating in a report on Monday, May 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Entergy Corporation currently has a consensus rating of “Hold” and a consensus price target of $78.77.
In related news, Director Alexis M. Herman sold 995 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $76.38, for a total value of $75,998.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 500 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $77.17, for a total transaction of $38,585.00. The disclosure for this sale can be found here. Insiders sold a total of 2,095 shares of company stock worth $160,135 over the last three months. 0.24% of the stock is currently owned by corporate insiders.
About Entergy Corporation
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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