Hartford Investment Management Co. raised its stake in Entergy Corporation (NYSE:ETR) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,003 shares of the utilities provider’s stock after buying an additional 3,783 shares during the period. Hartford Investment Management Co.’s holdings in Entergy Corporation were worth $3,916,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Paragon Capital Management Ltd boosted its stake in Entergy Corporation by 12.8% in the second quarter. Paragon Capital Management Ltd now owns 3,021 shares of the utilities provider’s stock valued at $232,000 after buying an additional 343 shares during the last quarter. Boston Advisors LLC boosted its stake in Entergy Corporation by 8.0% in the second quarter. Boston Advisors LLC now owns 219,592 shares of the utilities provider’s stock valued at $16,858,000 after buying an additional 16,230 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Entergy Corporation by 0.9% in the second quarter. Russell Investments Group Ltd. now owns 713,194 shares of the utilities provider’s stock valued at $54,750,000 after buying an additional 6,293 shares during the last quarter. Huntington National Bank boosted its stake in Entergy Corporation by 120.2% in the second quarter. Huntington National Bank now owns 3,481 shares of the utilities provider’s stock valued at $267,000 after buying an additional 1,900 shares during the last quarter. Finally, Private Bank & Trust Co. boosted its stake in Entergy Corporation by 7.3% in the second quarter. Private Bank & Trust Co. now owns 4,220 shares of the utilities provider’s stock valued at $324,000 after buying an additional 286 shares during the last quarter. Institutional investors own 83.29% of the company’s stock.
Shares of Entergy Corporation (ETR) traded down 0.83% during mid-day trading on Friday, hitting $76.20. The stock had a trading volume of 807,408 shares. The stock’s 50-day moving average price is $76.59 and its 200-day moving average price is $75.84. The firm’s market cap is $13.68 billion. Entergy Corporation has a 52-week low of $66.71 and a 52-week high of $81.83.
Entergy Corporation (NYSE:ETR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $1.91. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm earned $3.16 EPS. On average, analysts anticipate that Entergy Corporation will post $5.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Tuesday, August 8th. Entergy Corporation’s payout ratio is currently -69.74%.
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Several equities analysts have recently issued reports on ETR shares. ValuEngine upgraded Entergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday. Zacks Investment Research lowered Entergy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Mizuho reduced their price objective on Entergy Corporation from $79.00 to $76.00 and set a “neutral” rating on the stock in a research report on Friday, April 28th. Jefferies Group LLC restated a “hold” rating and set a $78.00 price objective on shares of Entergy Corporation in a research report on Thursday, July 6th. Finally, Morgan Stanley upped their price target on Entergy Corporation from $77.00 to $78.00 and gave the company an “underweight” rating in a research report on Monday, May 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $78.77.
In other Entergy Corporation news, Director Alexis M. Herman sold 995 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.38, for a total transaction of $75,998.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Haley Fisackerly sold 600 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $75.92, for a total transaction of $45,552.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,095 shares of company stock worth $160,135. 0.24% of the stock is owned by insiders.
Entergy Corporation Company Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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