Sterling Capital Management LLC trimmed its stake in shares of Entergy Co. (NYSE:ETR) by 9.2% in the 3rd quarter, Holdings Channel reports. The firm owned 31,820 shares of the utilities provider’s stock after selling 3,230 shares during the quarter. Sterling Capital Management LLC’s holdings in Entergy were worth $2,582,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in ETR. DnB Asset Management AS lifted its holdings in shares of Entergy by 7.9% during the second quarter. DnB Asset Management AS now owns 28,555 shares of the utilities provider’s stock valued at $2,307,000 after purchasing an additional 2,100 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Entergy by 53.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 8,036 shares of the utilities provider’s stock worth $649,000 after acquiring an additional 2,797 shares in the last quarter. Hexavest Inc. lifted its stake in Entergy by 7.5% in the 2nd quarter. Hexavest Inc. now owns 807,667 shares of the utilities provider’s stock worth $65,251,000 after acquiring an additional 56,313 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Entergy by 25.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 92,129 shares of the utilities provider’s stock worth $7,441,000 after acquiring an additional 18,830 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in Entergy by 20.2% in the 2nd quarter. Raymond James Trust N.A. now owns 7,797 shares of the utilities provider’s stock worth $630,000 after acquiring an additional 1,312 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.
ETR opened at $85.42 on Wednesday. Entergy Co. has a fifty-two week low of $71.95 and a fifty-two week high of $87.95. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.64 and a quick ratio of 0.49. The stock has a market cap of $15.06 billion, a PE ratio of 11.86, a PEG ratio of 1.70 and a beta of 0.39.
Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $3.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.94. Entergy had a return on equity of 16.94% and a net margin of 4.01%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the business earned $2.35 EPS. On average, research analysts forecast that Entergy Co. will post 6.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 8th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, November 7th. This is an increase from Entergy’s previous quarterly dividend of $0.89. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.26%. Entergy’s dividend payout ratio (DPR) is 49.44%.
Several brokerages recently issued reports on ETR. 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 price objective on Entergy from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Scotiabank began coverage on Entergy in a research note on Tuesday, July 24th. They issued a “hold” rating and a $84.00 price objective for the company. Goldman Sachs Group raised Entergy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $87.00 to $88.00 in a research note on Thursday, July 19th. Finally, Citigroup increased their price objective on Entergy from $88.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $89.04.
In other news, EVP Donald W. Vinci sold 5,200 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $85.00, for a total transaction of $442,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Paul D. Hinnenkamp sold 6,500 shares of the 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 directly owns 27,568 shares in the company, valued at approximately $2,343,280. The disclosure for this sale can be found here. Insiders have sold a total of 14,450 shares of company stock valued at $1,228,168 over the last ninety days. Company insiders own 0.25% of the company’s stock.
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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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