Moody National Bank Trust Division grew its holdings in Entergy Co. (NYSE:ETR – Get Rating) by 56.9% during the second quarter, Holdings Channel reports. The firm owned 5,178 shares of the utilities provider’s stock after acquiring an additional 1,878 shares during the quarter. Moody National Bank Trust Division’s holdings in Entergy were worth $583,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ETR. CNB Bank acquired a new position in shares of Entergy in the 1st quarter valued at about $27,000. Fairfield Bush & CO. acquired a new position in shares of Entergy in the 1st quarter valued at about $29,000. Riverview Trust Co acquired a new position in shares of Entergy in the 1st quarter valued at about $32,000. GW&K Investment Management LLC acquired a new position in shares of Entergy in the 1st quarter valued at about $32,000. Finally, TCI Wealth Advisors Inc. raised its stake in Entergy by 2,863.6% during the 1st quarter. TCI Wealth Advisors Inc. now owns 326 shares of the utilities provider’s stock worth $38,000 after buying an additional 315 shares during the period. 90.53% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ETR has been the topic of a number of research reports. Credit Suisse Group dropped their price target on Entergy from $136.00 to $114.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 21st. Mizuho dropped their price target on Entergy from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Morgan Stanley upped their price target on Entergy from $106.00 to $115.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 23rd. Evercore ISI upped their price target on Entergy to $130.00 in a research note on Tuesday, August 9th. Finally, UBS Group downgraded Entergy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $134.00 to $128.00 in a research note on Tuesday, September 6th. One 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. According to MarketBeat, Entergy presently has a consensus rating of “Hold” and a consensus target price of $125.43.
Entergy Stock Performance
Entergy (NYSE:ETR – Get Rating) last released its earnings results on Wednesday, August 3rd. The utilities provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.42. Entergy had a return on equity of 11.07% and a net margin of 9.92%. During the same period last year, the firm earned $1.34 earnings per share. Equities analysts forecast that Entergy Co. will post 6.38 earnings per share for the current fiscal year.
Entergy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Wednesday, August 10th. Entergy’s dividend payout ratio is presently 66.78%.
Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company 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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