NN Investment Partners Holdings N.V. reduced its stake in shares of Entergy Co. (NYSE:ETR) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,274 shares of the utilities provider’s stock after selling 1,725 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Entergy were worth $1,564,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in ETR. FMR LLC raised its stake in Entergy by 256.4% during the second quarter. FMR LLC now owns 2,585,554 shares of the utilities provider’s stock worth $208,886,000 after acquiring an additional 1,860,030 shares in the last quarter. Millennium Management LLC raised its stake in Entergy by 107.5% during the second quarter. Millennium Management LLC now owns 2,700,290 shares of the utilities provider’s stock worth $218,156,000 after acquiring an additional 1,398,892 shares in the last quarter. Luminus Management LLC acquired a new position in Entergy during the second quarter worth $110,530,000. Massachusetts Financial Services Co. MA acquired a new position in Entergy during the second quarter worth $93,409,000. Finally, Boston Partners raised its stake in Entergy by 38.4% during the second quarter. Boston Partners now owns 2,824,231 shares of the utilities provider’s stock worth $228,170,000 after acquiring an additional 784,238 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.
Several research analysts have issued reports on the company. Bank of America increased their price objective on Entergy from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, November 1st. Morgan Stanley increased their target price on Entergy from $80.00 to $83.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Scotiabank initiated coverage on Entergy in a report on Tuesday, July 24th. They set a “hold” rating and a $84.00 target price on the stock. Goldman Sachs Group upgraded Entergy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $87.00 to $88.00 in a report on Thursday, July 19th. Finally, Citigroup increased their target price on Entergy from $88.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, October 17th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.04.
In related news, EVP Donald W. Vinci sold 5,200 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $85.00, for a total value of $442,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Paul D. Hinnenkamp sold 6,500 shares of the firm’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 completion of the transaction, the chief operating officer now owns 27,568 shares in the company, valued at approximately $2,343,280. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,450 shares of company stock worth $1,228,168. 0.25% of the stock is owned by company insiders.
Shares of ETR stock opened at $85.42 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.88. The firm has a market cap of $15.06 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39. Entergy Co. has a 52 week low of $71.95 and a 52 week high of $87.95.
Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.94. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Entergy had a return on equity of 16.94% and a net margin of 4.01%. During the same quarter last year, the business earned $2.35 earnings per share. As a group, equities analysts predict that Entergy Co. will post 6.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 8th will be issued a $0.91 dividend. This is a boost from Entergy’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $3.64 annualized dividend and a yield of 4.26%. Entergy’s dividend payout ratio (DPR) is currently 49.44%.
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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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