IFM Investors Pty Ltd acquired a new stake in Entergy Co. (NYSE:ETR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,954 shares of the utilities provider’s stock, valued at approximately $378,000.
A number of other large investors have also made changes to their positions in ETR. Bessemer Group Inc. grew its stake in Entergy by 2.0% in the 2nd quarter. Bessemer Group Inc. now owns 5,360 shares of the utilities provider’s stock valued at $411,000 after purchasing an additional 103 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Entergy by 7.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 681,222 shares of the utilities provider’s stock valued at $52,298,000 after purchasing an additional 44,610 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Entergy by 5.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 70,345 shares of the utilities provider’s stock valued at $5,400,000 after purchasing an additional 3,823 shares during the period. State of Wisconsin Investment Board grew its stake in Entergy by 18.3% in the 2nd quarter. State of Wisconsin Investment Board now owns 239,666 shares of the utilities provider’s stock valued at $18,399,000 after purchasing an additional 37,080 shares during the period. Finally, Legal & General Group Plc grew its stake in Entergy by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 1,133,779 shares of the utilities provider’s stock valued at $87,047,000 after purchasing an additional 65,491 shares during the period. Hedge funds and other institutional investors own 82.95% of the company’s stock.
In other Entergy news, EVP Marcus V. Brown sold 1,500 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $82.00, for a total value of $123,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sallie T. Rainer sold 6,300 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $82.00, for a total value of $516,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,812 shares of company stock valued at $4,907,522. 0.24% of the stock is owned by corporate insiders.
Entergy (NYSE:ETR) last posted its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.11. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. During the same quarter in the prior year, the company earned $2.31 EPS. research analysts forecast that Entergy Co. will post 6.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 9th were paid a $0.89 dividend. The ex-dividend date was Wednesday, November 8th. This represents a $3.56 annualized dividend and a yield of 4.25%. This is an increase from Entergy’s previous quarterly dividend of $0.87. Entergy’s dividend payout ratio (DPR) is currently -72.06%.
A number of brokerages have issued reports on ETR. Bank of America upgraded Entergy from a “neutral” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Tuesday, December 12th. TheStreet downgraded Entergy from a “b-” rating to a “c+” rating in a research note on Wednesday, December 6th. Morgan Stanley upped their price objective on Entergy from $86.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company reiterated an “outperform” rating and set a $96.00 price target (up previously from $90.00) on shares of Entergy in a research note on Wednesday, October 25th. Finally, Jefferies Group upgraded Entergy from a “hold” rating to a “buy” rating in a research note on Monday, October 16th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $83.17.
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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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