State Treasurer State of Michigan boosted its position in shares of Entergy Corporation (NYSE:ETR) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,015 shares of the utilities provider’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Entergy Corporation were worth $4,531,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ETR. Dimensional Fund Advisors LP boosted its position in shares of Entergy Corporation by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 396,942 shares of the utilities provider’s stock worth $29,164,000 after buying an additional 26,319 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Entergy Corporation by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,250 shares of the utilities provider’s stock worth $459,000 after buying an additional 380 shares in the last quarter. RMB Capital Management LLC purchased a new position in shares of Entergy Corporation during the fourth quarter worth about $588,000. HighPoint Advisor Group LLC purchased a new position in shares of Entergy Corporation during the fourth quarter worth about $203,000. Finally, Kentucky Retirement Systems purchased a new position in shares of Entergy Corporation during the fourth quarter worth about $955,000. Hedge funds and other institutional investors own 83.29% of the company’s stock.
Entergy Corporation (NYSE:ETR) opened at 76.20 on Friday. The stock has a 50 day moving average of $76.50 and a 200 day moving average of $75.88. The company’s market capitalization is $13.68 billion. Entergy Corporation has a 12 month low of $66.71 and a 12 month high of $81.83.
Entergy Corporation (NYSE:ETR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $1.91. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Entergy Corporation had a positive return on equity of 14.08% and a negative net margin of 7.98%. During the same period in the previous year, the business posted $3.16 EPS. Equities analysts anticipate that Entergy Corporation will post $5.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Tuesday, August 8th. Entergy Corporation’s payout ratio is -69.74%.
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A number of brokerages recently issued reports on ETR. Zacks Investment Research cut shares of Entergy Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 18th. Mizuho reiterated a “neutral” rating and issued a $79.00 price target on shares of Entergy Corporation in a report on Wednesday, April 19th. Barclays PLC reiterated an “equal weight” rating and issued a $78.00 price target (up previously from $74.00) on shares of Entergy Corporation in a report on Sunday, April 23rd. TheStreet upgraded shares of Entergy Corporation from a “c+” rating to a “b-” rating in a report on Thursday, April 27th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $80.00 price target on shares of Entergy Corporation in a report on Tuesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Entergy Corporation currently has an average rating of “Hold” and an average price target of $78.77.
In related news, Director Alexis M. Herman sold 995 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $76.38, for a total value of $75,998.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Haley Fisackerly sold 500 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $77.17, for a total value of $38,585.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,095 shares of company stock worth $160,135 over the last quarter. Company insiders own 0.24% of the company’s stock.
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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