JPMorgan Chase & Co. lowered its holdings in shares of Entergy Co. (NYSE:ETR – Free Report) by 53.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,153,175 shares of the utilities provider’s stock after selling 2,511,337 shares during the period. JPMorgan Chase & Co. owned approximately 1.02% of Entergy worth $209,655,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ETR. Vanguard Group Inc. grew its stake in shares of Entergy by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 23,663,740 shares of the utilities provider’s stock worth $2,762,741,000 after buying an additional 650,775 shares during the last quarter. State Street Corp grew its stake in shares of Entergy by 8.1% in the first quarter. State Street Corp now owns 12,122,596 shares of the utilities provider’s stock worth $1,415,313,000 after acquiring an additional 908,932 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Entergy by 9.0% during the first quarter. Bank of America Corp DE now owns 9,045,944 shares of the utilities provider’s stock valued at $974,610,000 after acquiring an additional 745,974 shares in the last quarter. FMR LLC raised its position in shares of Entergy by 1.7% in the 1st quarter. FMR LLC now owns 6,382,275 shares of the utilities provider’s stock worth $687,626,000 after purchasing an additional 104,914 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Entergy by 1.6% in the 1st quarter. Ameriprise Financial Inc. now owns 4,527,419 shares of the utilities provider’s stock worth $487,782,000 after purchasing an additional 71,270 shares in the last quarter. Hedge funds and other institutional investors own 86.52% of the company’s stock.
Entergy Trading Down 0.1 %
Shares of NYSE:ETR opened at $101.10 on Monday. The stock’s 50-day simple moving average is $95.48 and its two-hundred day simple moving average is $97.61. The stock has a market capitalization of $21.38 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.34 and a beta of 0.67. Entergy Co. has a 52-week low of $87.10 and a 52-week high of $120.78. 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 (NYSE:ETR – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $3.27 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.30. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Entergy had a net margin of 11.56% and a return on equity of 10.77%. During the same quarter in the prior year, the business earned $2.84 EPS. Analysts expect that Entergy Co. will post 6.73 EPS for the current year.
Entergy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be given a dividend of $1.13 per share. This is an increase from Entergy’s previous quarterly dividend of $1.07. The ex-dividend date is Monday, November 13th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.47%. Entergy’s payout ratio is presently 64.94%.
Insider Transactions at Entergy
In related news, EVP Marcus V. Brown sold 13,500 shares of Entergy stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $95.40, for a total transaction of $1,287,900.00. Following the transaction, the executive vice president now directly owns 9,251 shares in the company, valued at $882,545.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on ETR shares. Guggenheim raised their price objective on shares of Entergy from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. JPMorgan Chase & Co. reduced their price target on shares of Entergy from $124.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Bank of America raised Entergy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $94.00 to $110.00 in a research report on Tuesday, November 21st. StockNews.com assumed coverage on Entergy in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, BMO Capital Markets decreased their price target on Entergy from $120.00 to $114.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.67.
Get Our Latest Report on Entergy
About Entergy
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.
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