Convergence Investment Partners LLC Lowers Holdings in Entergy Co. (ETR)

Convergence Investment Partners LLC reduced its holdings in shares of Entergy Co. (NYSE:ETR) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 21,778 shares of the utilities provider’s stock after selling 1,764 shares during the period. Convergence Investment Partners LLC’s holdings in Entergy were worth $1,663,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Castleton Investment Management LLC purchased a new stake in shares of Entergy in the second quarter valued at about $16,800,000. Principal Financial Group Inc. boosted its holdings in shares of Entergy by 99.4% in the second quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock valued at $69,296,000 after acquiring an additional 449,986 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Entergy by 1.0% in the second quarter. BlackRock Inc. now owns 16,243,801 shares of the utilities provider’s stock valued at $1,247,035,000 after acquiring an additional 154,117 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Entergy by 4.3% in the second quarter. Prudential Financial Inc. now owns 585,575 shares of the utilities provider’s stock valued at $44,954,000 after acquiring an additional 23,946 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Entergy by 3.3% in the second quarter. Swiss National Bank now owns 655,522 shares of the utilities provider’s stock valued at $50,324,000 after acquiring an additional 20,800 shares in the last quarter. 82.95% of the stock is currently owned by institutional investors.

In other news, insider Haley Fisackerly sold 3,934 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $82.49, for a total value of $324,515.66. Following the completion of the transaction, the insider now owns 4,367 shares of the company’s stock, valued at $360,233.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Charles L. Rice, Jr. sold 9,234 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $86.24, for a total transaction of $796,340.16. The disclosure for this sale can be found here. In the last three months, insiders sold 57,812 shares of company stock valued at $4,907,522. Company insiders own 0.24% of the company’s stock.

Several analysts have recently weighed in on ETR shares. Mizuho reaffirmed a “hold” rating and issued a $83.00 target price on shares of Entergy in a report on Friday, October 27th. Citigroup raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Friday, October 13th. J P Morgan Chase & Co lifted their target price on shares of Entergy from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. BidaskClub raised shares of Entergy from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Finally, Morgan Stanley raised their price objective on shares of Entergy from $79.00 to $82.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $82.42.

Entergy Co. (NYSE:ETR) opened at $83.13 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.61. The stock has a market cap of $15,207.81, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.74 and a beta of 0.55. Entergy Co. has a 52-week low of $68.87 and a 52-week high of $87.95.

Entergy (NYSE:ETR) last announced its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.11. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Entergy had a negative net margin of 7.82% and a positive return on equity of 14.76%. During the same quarter in the previous year, the business posted $2.31 earnings per share. equities analysts expect that Entergy Co. will post 6.93 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 9th were given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Wednesday, November 8th. This is a positive change from Entergy’s previous quarterly dividend of $0.87. Entergy’s payout ratio is currently -72.06%.

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Entergy 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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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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