Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Entergy Co. (NYSE: ETR – Get a rating) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund held 21,607 shares of the utility provider after buying an additional 979 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Entergy were worth $2,523,000 at the end of last quarter.
Several other hedge funds have also increased or reduced their holdings in the stock. Centennial Wealth Advisory LLC acquired a new position in shares of Entergy in the first quarter worth approximately $238,000. AE Wealth Management LLC increased its stake in Entergy shares by 14.3% in the first quarter. AE Wealth Management LLC now owns 72,411 shares of the utility provider valued at $8,454,000 after acquiring 9,069 additional shares last quarter. IFM Investors Pty Ltd increased its stake in Entergy shares by 135.8% in the first quarter. IFM Investors Pty Ltd now owns 56,738 shares of the utility provider valued at $6,624,000 after acquiring an additional 32,674 shares last quarter. TPG Financial Advisors LLC increased its stake in Entergy shares by 69.0% in the first quarter. TPG Financial Advisors LLC now owns 3,222 shares of the utility provider valued at $376,000 after acquiring 1,315 additional shares last quarter. Finally, CNB Bank acquired a new position in shares of Entergy in the first quarter valued at approximately $27,000. Institutional investors and hedge funds own 88.94% of the company’s shares.
REE has been the subject of several research reports. Credit Suisse Group lowered its price target on Entergy shares from $136.00 to $114.00 and set an “outperform” rating on the stock in a Tuesday, June 21 research note. Morgan Stanley cut its price target on Entergy shares from $115.00 to $111.00 and set an “underweight” rating on the stock in a Monday, May 23 research note. Goldman Sachs Group set a price target of $224.00 on Entergy shares in a Monday, May 16 research note. Warburg Research set a price target of $177.00 on Entergy shares in a Monday, May 16 research note. Finally, BMO Capital Markets lowered its price target on Entergy shares from $137.00 to $125.00 in a Tuesday, June 14 research note. One financial analyst gave the stock a sell rating, four gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $121.93.
Separately, SVP Peter S. Norgeot, Jr. sold 4,068 shares of the company in a trade that took place on Wednesday, April 20. The shares were sold at an average price of $125.62, for a total transaction of $511,022.16. Following the completion of the sale, the senior vice president now owns 25,355 shares of the company, valued at approximately $3,185,095.10. The sale was disclosed in a legal filing with the SEC, accessible via this link. Also, COO Paul D. Hinnenkamp sold 6,500 shares of the company in a transaction that took place on Friday, May 27. The stock was sold at an average price of $120.94, for a total transaction of $786,110.00. As a result of the sale, the COO now directly owns 26,102 shares of the company, valued at approximately $3,156,775.88. Disclosure of this sale can be found here. Insiders sold a total of 30,607 shares of the company valued at $3,714,925 over the past three months. Insiders own 0.37% of the shares of the company.
Shares of NYSE ETR opened at $112.64 on Friday. The company has a 50-day simple moving average of $115.84 and a 200-day simple moving average of $113.20. The company has a market capitalization of $22.91 billion, a PE ratio of 21.50, a growth price-earnings ratio of 2.59 and a beta of 0.58. Entergy Co. has a 1-year minimum of $98.50 and a 1-year maximum of $126.82. The company has a debt ratio of 2.24, a current ratio of 0.72 and a quick ratio of 0.49.
Entergy (NYSE: ETR – Get a rating) last released its quarterly earnings data on Wednesday, April 27. The utility provider reported earnings per share (EPS) of $1.32 for the quarter, missing analyst consensus estimates of $1.38 per ($0.06). The company posted revenue of $2.88 billion in the quarter, versus a consensus estimate of $2.90 billion. Entergy had a net margin of 8.99% and a return on equity of 10.44%. In the same quarter last year, the company achieved EPS of $1.47. As a group, research analysts expect Entergy Co. to post earnings per share of 6.35 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1. Shareholders of record on Thursday, May 5 received a dividend of $1.01 per share. This represents a dividend of $4.04 on an annualized basis and a yield of 3.59%. The ex-dividend date was Wednesday, May 4. Entergy’s dividend payout ratio is currently 77.10%.
Enteric profile (Get a rating)
Entergy Corporation, together with its subsidiaries, is engaged in the generation and distribution of electricity in the United States. It operates in two segments, Utility and Entergy Wholesale Commodities. The Utilities segment generates, transmits, distributes and sells electricity in parts of Arkansas, Louisiana, Mississippi and Texas, including the city of New Orleans; and distributes natural gas.
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