BTC Capital Management Inc. lifted its position in shares of Entergy Co. (NYSE:ETR) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,144 shares of the utilities provider’s stock after buying an additional 759 shares during the quarter. BTC Capital Management Inc.’s holdings in Entergy were worth $4,712,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ETR. Price T Rowe Associates Inc. MD grew its position in shares of Entergy by 8.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,064,350 shares of the utilities provider’s stock worth $1,035,924,000 after buying an additional 744,690 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Entergy by 1,812.3% in the third quarter. Assenagon Asset Management S.A. now owns 719,883 shares of the utilities provider’s stock valued at $84,485,000 after buying an additional 682,238 shares during the last quarter. Morgan Stanley raised its stake in Entergy by 192.6% in the second quarter. Morgan Stanley now owns 1,014,641 shares of the utilities provider’s stock valued at $104,436,000 after buying an additional 667,875 shares during the last quarter. BlackRock Inc. raised its stake in Entergy by 4.0% in the second quarter. BlackRock Inc. now owns 15,716,038 shares of the utilities provider’s stock valued at $1,617,651,000 after buying an additional 597,926 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Entergy by 6.2% in the second quarter. Invesco Ltd. now owns 9,569,197 shares of the utilities provider’s stock valued at $984,957,000 after buying an additional 556,948 shares during the last quarter. 86.56% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman Leo P. Denault sold 24,211 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.00, for a total transaction of $2,663,210.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP A. Christopher Bakken III sold 6,750 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $108.00, for a total value of $729,000.00. Following the transaction, the executive vice president now directly owns 32,628 shares of the company’s stock, valued at $3,523,824. The disclosure for this sale can be found here. Insiders sold a total of 59,156 shares of company stock worth $6,188,830 in the last quarter. Company insiders own 0.27% of the company’s stock.
Shares of NYSE:ETR traded up $0.17 during trading on Friday, reaching $114.90. The stock had a trading volume of 1,377,673 shares, compared to its average volume of 1,475,146. Entergy Co. has a 1-year low of $82.06 and a 1-year high of $122.09. The stock has a market cap of $23.18 billion, a PE ratio of 15.72, a PEG ratio of 3.14 and a beta of 0.28. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.53 and a current ratio of 0.72. The business has a fifty day moving average price of $117.83 and a 200-day moving average price of $107.28.
Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $2.52 EPS for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.23. Entergy had a return on equity of 11.13% and a net margin of 7.38%. The firm had revenue of $36.72 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the business posted $3.77 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. Sell-side analysts expect that Entergy Co. will post 5.31 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 7th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, November 6th. This is an increase from Entergy’s previous quarterly dividend of $0.91. Entergy’s payout ratio is currently 50.89%.
Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Entergy from $116.00 to $129.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley raised their target price on Entergy from $112.00 to $116.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. UBS Group lowered Entergy from a “buy” rating to a “neutral” rating and raised their target price for the stock from $115.00 to $126.00 in a report on Thursday, October 31st. Citigroup raised their target price on Entergy from $109.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. They noted that the move was a valuation call. Finally, KeyCorp raised their price objective on Entergy from $118.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $115.00.
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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