Twin Tree Management LP acquired a new position in Entergy Co. (NYSE:ETR) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,506 shares of the utilities provider’s stock, valued at approximately $2,313,000.
Several other hedge funds also recently bought and sold shares of the stock. LSV Asset Management boosted its stake in Entergy by 0.4% in the third quarter. LSV Asset Management now owns 6,354,570 shares of the utilities provider’s stock worth $515,546,000 after buying an additional 26,614 shares in the last quarter. Boston Partners boosted its stake in Entergy by 38.4% in the second quarter. Boston Partners now owns 2,824,231 shares of the utilities provider’s stock worth $228,170,000 after buying an additional 784,238 shares in the last quarter. Millennium Management LLC boosted its stake in Entergy by 107.5% in the second quarter. Millennium Management LLC now owns 2,700,290 shares of the utilities provider’s stock worth $218,156,000 after buying an additional 1,398,892 shares in the last quarter. FMR LLC boosted its stake in Entergy by 256.4% in the second quarter. FMR LLC now owns 2,585,554 shares of the utilities provider’s stock worth $208,886,000 after buying an additional 1,860,030 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Entergy by 2.8% in the second quarter. Northern Trust Corp now owns 2,450,865 shares of the utilities provider’s stock worth $198,006,000 after buying an additional 67,513 shares in the last quarter. Institutional investors own 90.35% of the company’s stock.
In related news, COO Paul D. Hinnenkamp sold 6,000 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $86.00, for a total value of $516,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald W. Vinci sold 10,033 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $87.00, for a total value of $872,871.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,533 shares of company stock valued at $2,123,475. Insiders own 0.25% of the company’s stock.
Several brokerages have issued reports on ETR. Howard Weil began coverage on Entergy in a research note on Tuesday, July 24th. They issued a “sector perform” rating and a $84.00 target price for the company. Wells Fargo & Co upped their target price on Entergy from $91.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, September 17th. Bank of America upped their target price on Entergy from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, November 1st. Citigroup upped their target price on Entergy from $88.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Finally, Zacks Investment Research reaffirmed a “strong-buy” rating and issued a $97.00 target price on shares of Entergy in a research note on Tuesday, November 13th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Entergy presently has an average rating of “Buy” and an average target price of $89.63.
NYSE:ETR opened at $86.33 on Wednesday. The company has a market cap of $15.72 billion, a PE ratio of 11.99, a P/E/G ratio of 1.78 and a beta of 0.39. Entergy Co. has a fifty-two week low of $71.95 and a fifty-two week high of $87.85. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.88.
Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.94. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $2.85 billion. Entergy had a return on equity of 16.94% and a net margin of 4.01%. During the same quarter in the prior year, the firm posted $2.35 earnings per share. Sell-side analysts anticipate that Entergy Co. will post 6.98 earnings per share for the current year.
The business also recently disclosed 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. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Wednesday, November 7th. This is a positive change from Entergy’s previous quarterly dividend of $0.89. Entergy’s dividend payout ratio is 50.56%.
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Entergy Company Profile
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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