FDO Partners LLC purchased a new stake in shares of Entergy Co. (NYSE:ETR) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 17,758 shares of the utilities provider’s stock, valued at approximately $1,356,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Castleton Investment Management LLC bought a new stake in shares of Entergy during the second quarter valued at about $16,800,000. Principal Financial Group Inc. increased its position in shares of Entergy by 99.4% during the second quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock valued at $69,296,000 after buying an additional 449,986 shares during the period. BlackRock Inc. increased its position in shares of Entergy by 1.0% during the second quarter. BlackRock Inc. now owns 16,243,801 shares of the utilities provider’s stock valued at $1,247,035,000 after buying an additional 154,117 shares during the period. Prudential Financial Inc. increased its position in shares of Entergy by 4.3% during the second quarter. Prudential Financial Inc. now owns 585,575 shares of the utilities provider’s stock valued at $44,954,000 after buying an additional 23,946 shares during the period. Finally, Swiss National Bank increased its position in shares of Entergy by 3.3% during the second quarter. Swiss National Bank now owns 655,522 shares of the utilities provider’s stock valued at $50,324,000 after buying an additional 20,800 shares during the period. Hedge funds and other institutional investors own 82.94% of the company’s stock.
Several brokerages have recently weighed in on ETR. Morgan Stanley upped their price target on Entergy from $82.00 to $84.00 and gave the company an “underweight” rating in a research report on Friday, September 8th. Jefferies Group reiterated a “hold” rating on shares of Entergy in a research report on Friday, August 11th. Wells Fargo & Company reiterated an “outperform” rating and set a $96.00 price target (up from $90.00) on shares of Entergy in a research report on Wednesday, October 25th. Bank of America began coverage on Entergy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $86.00 price target on the stock. Finally, ValuEngine upgraded Entergy from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $82.42.
Entergy (NYSE:ETR) last issued its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $2.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.11. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. research analysts forecast that Entergy Co. will post 6.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 9th were issued a dividend of $0.89 per share. This is a positive change from Entergy’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 4.16%. Entergy’s payout ratio is presently -72.06%.
In other news, COO Paul D. Hinnenkamp sold 2,300 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $84.00, for a total transaction of $193,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 3,934 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $82.49, for a total value of $324,515.66. Following the transaction, the insider now directly owns 4,367 shares of the company’s stock, valued at approximately $360,233.83. The disclosure for this sale can be found here. Insiders have sold 57,812 shares of company stock valued at $4,907,522 in the last three months. 0.24% of the stock is owned by insiders.
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Entergy 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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