Nordea Investment Management AB lessened its holdings in Entergy Co. (NYSE:ETR – Get Rating) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 385,986 shares of the utilities provider’s stock after selling 12,005 shares during the period. Nordea Investment Management AB owned approximately 0.19% of Entergy worth $45,458,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Capital International Investors lifted its stake in Entergy by 17.1% during the 4th quarter. Capital International Investors now owns 12,028,310 shares of the utilities provider’s stock worth $1,354,989,000 after acquiring an additional 1,758,132 shares in the last quarter. Bank of America Corp DE lifted its stake in Entergy by 17.2% during the 4th quarter. Bank of America Corp DE now owns 9,152,114 shares of the utilities provider’s stock worth $1,030,986,000 after acquiring an additional 1,343,409 shares in the last quarter. BlackRock Inc. lifted its stake in Entergy by 7.2% during the 4th quarter. BlackRock Inc. now owns 16,965,355 shares of the utilities provider’s stock worth $1,911,147,000 after acquiring an additional 1,143,571 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Entergy by 47.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,987,634 shares of the utilities provider’s stock worth $223,906,000 after acquiring an additional 644,066 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Entergy by 24.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,860,348 shares of the utilities provider’s stock worth $209,530,000 after acquiring an additional 365,708 shares in the last quarter. 88.94% of the stock is currently owned by institutional investors and hedge funds.
In other Entergy news, SVP Peter S. Norgeot, Jr. sold 2,360 shares of the stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $120.00, for a total transaction of $283,200.00. Following the completion of the sale, the senior vice president now directly owns 25,355 shares of the company’s stock, valued at approximately $3,042,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Leo P. Denault sold 57,889 shares of the stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $120.10, for a total value of $6,952,468.90. Following the sale, the chief executive officer now directly owns 389,393 shares of the company’s stock, valued at $46,766,099.30. The disclosure for this sale can be found here. Insiders have sold a total of 205,290 shares of company stock valued at $24,337,828 over the last ninety days. 0.37% of the stock is owned by insiders.
Entergy (NYSE:ETR – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.06). The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Entergy had a return on equity of 10.44% and a net margin of 8.99%. During the same quarter in the prior year, the business earned $1.47 EPS. As a group, sell-side analysts anticipate that Entergy Co. will post 6.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Thursday, May 5th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, May 4th. This represents a $4.04 dividend on an annualized basis and a yield of 3.86%. Entergy’s dividend payout ratio is presently 77.10%.
Several research firms recently issued reports on ETR. Warburg Research set a $177.00 target price on Entergy in a research note on Monday, May 16th. StockNews.com initiated coverage on Entergy in a report on Thursday, March 31st. They set a “hold” rating on the stock. Baader Bank set a $188.00 price target on Entergy in a report on Wednesday, May 18th. The Goldman Sachs Group set a $224.00 price target on Entergy in a report on Monday, May 16th. Finally, Credit Suisse Group cut their price target on Entergy from $136.00 to $114.00 and set an “outperform” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $121.50.
Entergy Company Profile (Get Rating)
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.
- Get a free copy of the StockNews.com research report on Entergy (ETR)
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