Korea Investment CORP increased its holdings in shares of Entergy Co. (NYSE:ETR – Free Report) by 143.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,262 shares of the utilities provider’s stock after acquiring an additional 98,474 shares during the quarter. Korea Investment CORP owned about 0.08% of Entergy worth $18,021,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ETR. Fairfield Bush & CO. acquired a new position in shares of Entergy during the 1st quarter worth approximately $29,000. Dimensional Fund Advisors LP boosted its stake in Entergy by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 637,493 shares of the utilities provider’s stock worth $74,429,000 after buying an additional 11,568 shares during the last quarter. Blair William & Co. IL grew its holdings in Entergy by 20.0% in the 1st quarter. Blair William & Co. IL now owns 44,607 shares of the utilities provider’s stock valued at $5,208,000 after buying an additional 7,434 shares in the last quarter. Sei Investments Co. grew its holdings in Entergy by 52.8% in the 1st quarter. Sei Investments Co. now owns 189,102 shares of the utilities provider’s stock valued at $22,074,000 after buying an additional 65,376 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Entergy by 37.7% in the 1st quarter. Allianz Asset Management GmbH now owns 288,794 shares of the utilities provider’s stock worth $33,717,000 after acquiring an additional 79,137 shares during the last quarter. Hedge funds and other institutional investors own 86.52% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on ETR shares. JPMorgan Chase & Co. upped their price objective on shares of Entergy from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. Guggenheim cut their price target on shares of Entergy from $124.00 to $110.00 in a report on Friday, July 7th. Morgan Stanley reduced their price target on shares of Entergy from $102.00 to $94.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 23rd. Bank of America cut their target price on Entergy from $119.00 to $107.00 in a research note on Sunday, May 21st. Finally, BMO Capital Markets decreased their price target on Entergy from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Entergy currently has an average rating of “Hold” and an average price target of $114.42.
Entergy Stock Performance
NYSE ETR opened at $94.34 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.80 and a quick ratio of 0.54. The company has a market cap of $19.95 billion, a P/E ratio of 14.38, a P/E/G ratio of 2.52 and a beta of 0.64. The stock has a 50-day moving average of $98.27 and a two-hundred day moving average of $102.31. Entergy Co. has a 1-year low of $93.52 and a 1-year high of $122.11.
Entergy (NYSE:ETR – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.15. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Entergy had a net margin of 10.22% and a return on equity of 10.22%. During the same quarter in the previous year, the business posted $1.78 earnings per share. As a group, analysts anticipate that Entergy Co. will post 6.69 EPS for the current year.
Entergy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Thursday, August 10th. Entergy’s payout ratio is currently 65.24%.
Entergy Company Profile
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.
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