State Treasurer State of Michigan increased its position in shares of Entergy Corporation (NYSE:ETR) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the SEC.
A number of other large investors also recently made changes to their positions in ETR. Clinton Group Inc. acquired a new position in Entergy Corporation during the first quarter worth approximately $643,000. Macquarie Group Ltd. increased its position in shares of Entergy Corporation by 11.3% in the fourth quarter. Macquarie Group Ltd. now owns 59,300 shares of the utilities provider’s stock worth $4,357,000 after buying an additional 6,000 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Entergy Corporation by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 4,461,044 shares of the utilities provider’s stock valued at $338,859,000 after buying an additional 305,111 shares in the last quarter. Swiss National Bank increased its stake in Entergy Corporation by 28.4% in the first quarter. Swiss National Bank now owns 634,722 shares of the utilities provider’s stock valued at $48,213,000 after buying an additional 140,300 shares in the last quarter. Finally, Financial Counselors Inc. increased its stake in Entergy Corporation by 5.4% in the first quarter. Financial Counselors Inc. now owns 62,945 shares of the utilities provider’s stock valued at $4,781,000 after buying an additional 3,215 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.
Shares of Entergy Corporation (NYSE:ETR) traded up 0.37% during trading on Friday, reaching $77.84. 875,719 shares of the company’s stock traded hands. The company has a 50 day moving average price of $76.40 and a 200 day moving average price of $76.13. Entergy Corporation has a 1-year low of $66.71 and a 1-year high of $81.83. The stock’s market capitalization is $13.97 billion.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 10th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Tuesday, August 8th. Entergy Corporation’s payout ratio is -69.74%.
ETR has been the subject of several analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $78.00 target price on shares of Entergy Corporation in a research note on Friday, August 4th. BidaskClub upgraded shares of Entergy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. 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. Zacks Investment Research cut shares of Entergy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Finally, Mizuho reduced their price objective on shares of Entergy Corporation from $79.00 to $76.00 and set a “neutral” rating for the company in a research report on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $78.77.
In other Entergy Corporation news, Director Alexis M. Herman sold 995 shares of the company’s stock in a transaction that occurred on 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 document filed with the SEC, which is available through this hyperlink. Also, insider Sallie T. Rainer sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $77.78, for a total value of $77,780.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,495 shares of company stock worth $192,363. 0.24% of the stock is currently owned by corporate insiders.
About Entergy Corporation
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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