ING Groep NV bought a new position in Entergy Co. (NYSE:ETR) in the first quarter, Holdings Channel.com reports. The firm bought 12,605 shares of the utilities provider’s stock, valued at approximately $1,254,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Entergy by 8.6% during the 1st quarter. BlackRock Inc. now owns 15,709,717 shares of the utilities provider’s stock valued at $1,562,646,000 after acquiring an additional 1,250,040 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Entergy by 27.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,061,076 shares of the utilities provider’s stock valued at $605,109,000 after purchasing an additional 1,299,992 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Entergy by 25.4% in the fourth quarter. Nordea Investment Management AB now owns 1,713,312 shares of the utilities provider’s stock worth $171,057,000 after acquiring an additional 346,593 shares in the last quarter. Brookfield Asset Management Inc. grew its stake in shares of Entergy by 12.3% in the fourth quarter. Brookfield Asset Management Inc. now owns 1,565,098 shares of the utilities provider’s stock worth $156,259,000 after acquiring an additional 170,900 shares in the last quarter. Finally, Maple Brown Abbott Ltd grew its stake in shares of Entergy by 69.0% during the first quarter. Maple Brown Abbott Ltd now owns 1,140,920 shares of the utilities provider’s stock worth $113,487,000 after purchasing an additional 465,720 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on ETR. Wells Fargo & Company upped their target price on shares of Entergy from $105.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Vertical Research upgraded shares of Entergy from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Thursday, April 29th. Morgan Stanley lowered their price target on shares of Entergy from $119.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 18th. Mizuho upped their price objective on shares of Entergy from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 30th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Entergy in a research note on Monday, March 15th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $116.57.
Entergy (NYSE:ETR) last posted its earnings results on Tuesday, April 27th. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.30. Entergy had a return on equity of 11.30% and a net margin of 15.41%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the business earned $1.14 EPS. As a group, sell-side analysts forecast that Entergy Co. will post 5.96 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Thursday, May 6th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Wednesday, May 5th. Entergy’s payout ratio is currently 67.14%.
In other news, COO Paul D. Hinnenkamp sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $107.28, for a total transaction of $321,840.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marcus V. Brown sold 16,000 shares of the stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $110.04, for a total value of $1,760,640.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,041 shares of company stock worth $3,256,149. Company insiders own 0.34% of the company’s stock.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. The company generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. It operates in two segments, Utility and Entergy Wholesale Commodities.
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