Allianz Asset Management GmbH cut its position in Entergy Co. (NYSE:ETR) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,708,263 shares of the utilities provider’s stock after selling 182,332 shares during the quarter. Allianz Asset Management GmbH owned 0.95% of Entergy worth $130,443,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of Entergy by 46.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock valued at $100,000 after buying an additional 410 shares during the period. Advisory Services Network LLC increased its stake in shares of Entergy by 2.1% in the second quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock valued at $179,000 after buying an additional 49 shares during the period. Parallel Advisors LLC increased its stake in shares of Entergy by 3.0% in the second quarter. Parallel Advisors LLC now owns 2,448 shares of the utilities provider’s stock valued at $188,000 after buying an additional 71 shares during the period. BlueMountain Capital Management LLC acquired a new stake in shares of Entergy in the second quarter valued at about $204,000. Finally, Buckingham Asset Management LLC acquired a new stake in shares of Entergy in the third quarter valued at about $212,000. Hedge funds and other institutional investors own 82.95% of the company’s stock.
Several research firms recently commented on ETR. Morgan Stanley raised their target price on Entergy from $82.00 to $84.00 and gave the stock an “underweight” rating in a research note on Friday, September 8th. Jefferies Group reaffirmed a “hold” rating on shares of Entergy in a research note on Friday, August 11th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $96.00 target price (up previously from $90.00) on shares of Entergy in a research note on Wednesday, October 25th. Bank of America began coverage on Entergy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $86.00 target price for the company. Finally, ValuEngine raised Entergy from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $82.42.
In other news, insider Haley Fisackerly sold 4,800 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $87.00, for a total value of $417,600.00. Following the transaction, the insider now owns 5,276 shares in the company, valued at $459,012. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles L. Rice, Jr. sold 9,234 shares of Entergy stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $86.24, for a total value of $796,340.16. The disclosure for this sale can be found here. Insiders sold 57,812 shares of company stock worth $4,907,522 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.
Entergy Co. (ETR) traded down $1.55 during mid-day trading on Tuesday, hitting $82.82. The stock had a trading volume of 97,213 shares, compared to its average volume of 1,206,744. Entergy Co. has a 52 week low of $67.84 and a 52 week high of $87.95. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $15,415.10, a price-to-earnings ratio of 12.65, a PEG ratio of 1.76 and a beta of 0.55.
Entergy (NYSE:ETR) last posted its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.24 by $0.11. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the company earned $2.31 earnings per share. research analysts expect that Entergy Co. will post 6.93 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 9th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Wednesday, November 8th. This is a positive change from Entergy’s previous quarterly dividend of $0.87. Entergy’s dividend payout ratio (DPR) is currently -72.06%.
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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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