Wells Fargo & Company MN Has $47.47 Million Position in Entergy Co. (ETR)
Wells Fargo & Company MN cut its stake in Entergy Co. (NYSE:ETR) by 12.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 621,586 shares of the utilities provider’s stock after selling 84,791 shares during the quarter. Wells Fargo & Company MN owned about 0.34% of Entergy worth $47,465,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of ETR. Bessemer Group Inc. lifted its position in Entergy by 2.0% in the second quarter. Bessemer Group Inc. now owns 5,360 shares of the utilities provider’s stock worth $411,000 after buying an additional 103 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Entergy by 1.0% in the second quarter. Daiwa Securities Group Inc. now owns 5,050 shares of the utilities provider’s stock worth $388,000 after buying an additional 50 shares during the last quarter. Retirement Systems of Alabama lifted its position in Entergy by 0.3% in the second quarter. Retirement Systems of Alabama now owns 87,015 shares of the utilities provider’s stock worth $6,680,000 after buying an additional 298 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in Entergy by 27.8% in the second quarter. Wetherby Asset Management Inc. now owns 4,032 shares of the utilities provider’s stock worth $310,000 after buying an additional 877 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Entergy by 7.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 681,222 shares of the utilities provider’s stock worth $52,298,000 after buying an additional 44,610 shares during the last quarter. Institutional investors own 82.95% of the company’s stock.
A number of analysts recently issued reports on ETR shares. Morgan Stanley raised their price target on Entergy from $82.00 to $84.00 and gave the stock an “underweight” rating in a research report on Friday, September 8th. Citigroup upgraded Entergy from a “neutral” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Friday, October 13th. BidaskClub upgraded Entergy from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Mizuho reiterated a “hold” rating and issued a $83.00 target price on shares of Entergy in a research note on Friday, October 27th. Finally, J P Morgan Chase & Co increased their target price on Entergy from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $82.42.
Shares of Entergy Co. (NYSE:ETR) opened at $84.04 on Monday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.78 and a quick ratio of 0.58. Entergy Co. has a 52 week low of $69.63 and a 52 week high of $87.95. The firm has a market capitalization of $15,148.33, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.55.
Entergy (NYSE:ETR) last released its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.11. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.13 billion. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. During the same quarter last year, the firm posted $2.31 earnings per share. sell-side analysts expect that Entergy Co. will post 6.93 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 9th were paid a dividend of $0.89 per share. The ex-dividend date was Wednesday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 4.24%. This is a positive change from Entergy’s previous quarterly dividend of $0.87. Entergy’s dividend payout ratio (DPR) is currently -72.06%.
In other news, EVP Marcus V. Brown sold 1,500 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $82.00, for a total transaction of $123,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Paul D. Hinnenkamp sold 2,300 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $84.00, for a total value of $193,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,812 shares of company stock worth $4,907,522. Insiders own 0.24% of the company’s stock.
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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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