Tdam USA Inc. lowered its position in Entergy Co. (NYSE:ETR) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,678 shares of the utilities provider’s stock after selling 845 shares during the quarter. Tdam USA Inc.’s holdings in Entergy were worth $1,740,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in ETR. FMR LLC grew its holdings in shares of Entergy by 256.4% in the second quarter. FMR LLC now owns 2,585,554 shares of the utilities provider’s stock valued at $208,886,000 after purchasing an additional 1,860,030 shares during the period. Millennium Management LLC grew its holdings in shares of Entergy by 107.5% in the second quarter. Millennium Management LLC now owns 2,700,290 shares of the utilities provider’s stock valued at $218,156,000 after purchasing an additional 1,398,892 shares during the period. Luminus Management LLC purchased a new stake in shares of Entergy in the second quarter valued at about $110,530,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Entergy in the second quarter valued at about $93,409,000. Finally, Boston Partners grew its holdings in shares of Entergy by 38.4% in the second quarter. Boston Partners now owns 2,824,231 shares of the utilities provider’s stock valued at $228,170,000 after purchasing an additional 784,238 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.
In other Entergy news, COO Paul D. Hinnenkamp sold 6,500 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $85.00, for a total value of $552,500.00. Following the transaction, the chief operating officer now owns 27,568 shares of the company’s stock, valued at $2,343,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald W. Vinci sold 5,200 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $85.00, for a total transaction of $442,000.00. The disclosure for this sale can be found here. Insiders sold 20,216 shares of company stock worth $1,705,016 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.
NYSE ETR opened at $83.26 on Monday. Entergy Co. has a 12 month low of $71.95 and a 12 month high of $87.95. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.49 and a current ratio of 0.64. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 11.56, a P/E/G ratio of 1.70 and a beta of 0.39.
Entergy (NYSE:ETR) last posted its earnings results on Wednesday, October 31st. The utilities provider reported $3.77 EPS for the quarter, beating the Zacks’ consensus estimate of $2.83 by $0.94. Entergy had a net margin of 4.01% and a return on equity of 16.94%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the company posted $2.35 earnings per share. As a group, analysts predict that Entergy Co. will post 6.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 8th will be given a $0.91 dividend. The ex-dividend date is Wednesday, November 7th. This represents a $3.64 dividend on an annualized basis and a yield of 4.37%. This is a boost from Entergy’s previous quarterly dividend of $0.89. Entergy’s dividend payout ratio is presently 49.44%.
A number of equities research analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Entergy from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley upped their price objective on shares of Entergy from $80.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, July 16th. Scotiabank assumed coverage on shares of Entergy in a report on Tuesday, July 24th. They issued a “hold” rating and a $84.00 price objective for the company. Goldman Sachs Group raised shares of Entergy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $87.00 to $88.00 in a report on Thursday, July 19th. Finally, Citigroup upped their price objective on shares of Entergy from $88.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, October 17th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $89.04.
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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