Citigroup Inc. reduced its stake in shares of Entergy Co. (NYSE:ETR – Free Report) by 31.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,658 shares of the utilities provider’s stock after selling 52,502 shares during the quarter. Citigroup Inc. owned about 0.05% of Entergy worth $11,262,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of ETR. Beverly Hills Private Wealth LLC raised its position in shares of Entergy by 129.9% during the second quarter. Beverly Hills Private Wealth LLC now owns 5,613 shares of the utilities provider’s stock worth $548,000 after acquiring an additional 3,172 shares during the last quarter. Cetera Investment Advisers lifted its position in Entergy by 1.8% during the 2nd quarter. Cetera Investment Advisers now owns 21,536 shares of the utilities provider’s stock valued at $2,097,000 after purchasing an additional 372 shares during the period. Summit X LLC grew its position in shares of Entergy by 3.9% during the 2nd quarter. Summit X LLC now owns 3,715 shares of the utilities provider’s stock worth $362,000 after buying an additional 139 shares during the period. Burney Co. lifted its holdings in Entergy by 66.3% in the second quarter. Burney Co. now owns 95,486 shares of the utilities provider’s stock valued at $9,297,000 after buying an additional 38,077 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Entergy by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 725,393 shares of the utilities provider’s stock valued at $70,625,000 after acquiring an additional 46,550 shares during the last quarter. Institutional investors and hedge funds own 86.52% of the company’s stock.
Wall Street Analyst Weigh In
ETR has been the topic of several recent research reports. UBS Group upgraded Entergy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $103.00 to $118.00 in a research report on Monday, November 6th. Barclays decreased their price objective on shares of Entergy from $98.00 to $94.00 and set an “equal weight” rating for the company in a report on Tuesday, October 24th. Morgan Stanley increased their target price on shares of Entergy from $92.00 to $94.00 and gave the stock an “underweight” rating in a report on Tuesday. StockNews.com began coverage on shares of Entergy in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Mizuho lowered their target price on Entergy from $113.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.67.
View Our Latest Stock Analysis on Entergy
Insider Activity at Entergy
In other Entergy news, EVP Marcus V. Brown sold 13,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $95.40, for a total transaction of $1,287,900.00. Following the completion of the sale, the executive vice president now directly owns 9,251 shares in the company, valued at $882,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by company insiders.
Entergy Trading Up 1.7 %
Shares of NYSE:ETR opened at $100.61 on Wednesday. The company has a 50-day simple moving average of $95.30 and a 200 day simple moving average of $97.74. The company has a market capitalization of $21.27 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 2.52 and a beta of 0.67. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.65 and a current ratio of 0.91. Entergy Co. has a 52-week low of $87.10 and a 52-week high of $120.78.
Entergy (NYSE:ETR – Get Free Report) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $3.27 EPS for the quarter, topping the consensus estimate of $2.97 by $0.30. Entergy had a return on equity of 10.77% and a net margin of 11.56%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the company posted $2.84 EPS. Sell-side analysts forecast that Entergy Co. will post 6.73 earnings per share for the current year.
Entergy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Monday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $1.07. Entergy’s dividend payout ratio (DPR) is currently 64.94%.
Entergy Company Profile
Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.
See Also
Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Co. (NYSE:ETR – Free Report).
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