Jennison Associates LLC reduced its stake in shares of Entergy Co. (NYSE:ETR) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,341,086 shares of the utilities provider’s stock after selling 26,167 shares during the quarter. Jennison Associates LLC’s holdings in Entergy were worth $138,038,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. Janus Henderson Group PLC grew its holdings in shares of Entergy by 112.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,485,881 shares of the utilities provider’s stock worth $142,095,000 after purchasing an additional 786,788 shares in the last quarter. FMR LLC boosted its stake in Entergy by 13.5% in the first quarter. FMR LLC now owns 3,784,148 shares of the utilities provider’s stock valued at $361,878,000 after buying an additional 448,737 shares in the last quarter. First Trust Advisors LP boosted its stake in Entergy by 191.9% in the second quarter. First Trust Advisors LP now owns 661,070 shares of the utilities provider’s stock valued at $68,044,000 after buying an additional 434,583 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in Entergy by 36.2% in the first quarter. Pictet Asset Management Ltd. now owns 1,601,350 shares of the utilities provider’s stock valued at $153,137,000 after buying an additional 425,288 shares in the last quarter. Finally, Bluescape Energy Partners LLC acquired a new stake in Entergy in the second quarter valued at about $26,176,000. 83.49% of the stock is currently owned by institutional investors.
In other news, Chairman Leo P. Denault sold 21,274 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $100.00, for a total transaction of $2,127,400.00. Following the completion of the transaction, the chairman now directly owns 205,766 shares in the company, valued at $20,576,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sallie T. Rainer sold 1,100 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $102.00, for a total value of $112,200.00. Following the transaction, the insider now owns 4,097 shares of the company’s stock, valued at $417,894. The disclosure for this sale can be found here. Insiders have sold 116,313 shares of company stock valued at $12,299,975 over the last 90 days. 0.27% of the stock is owned by corporate insiders.
Shares of ETR traded down $1.47 during mid-day trading on Friday, reaching $109.84. 998,760 shares of the company were exchanged, compared to its average volume of 1,303,363. Entergy Co. has a 52 week low of $78.99 and a 52 week high of $112.11. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.52 and a current ratio of 0.73. The stock has a market capitalization of $22.13 billion, a PE ratio of 15.03, a PEG ratio of 3.02 and a beta of 0.34. The business has a 50 day simple moving average of $106.25 and a two-hundred day simple moving average of $98.53.
Entergy (NYSE:ETR) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $1.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.03). Entergy had a return on equity of 13.75% and a net margin of 8.97%. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the business earned $1.42 earnings per share. On average, analysts predict that Entergy Co. will post 5.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 8th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, August 7th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.31%. Entergy’s dividend payout ratio (DPR) is 49.79%.
ETR has been the topic of several research analyst reports. Macquarie set a $100.00 price objective on Entergy and gave the company a “buy” rating in a research note on Thursday, May 2nd. UBS Group set a $115.00 price objective on Entergy and gave the company a “buy” rating in a research note on Monday, July 15th. ValuEngine raised Entergy from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley raised their price objective on Entergy from $111.00 to $114.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Zacks Investment Research lowered Entergy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $99.78.
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.
Further Reading: Hold Rating
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