Beverly Hills Private Wealth LLC lifted its stake in shares of Entergy Co. (NYSE:ETR – Free Report) by 129.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,613 shares of the utilities provider’s stock after purchasing an additional 3,172 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Entergy were worth $548,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Federated Hermes Inc. increased its holdings in Entergy by 25,465.1% in the 1st quarter. Federated Hermes Inc. now owns 2,398,774 shares of the utilities provider’s stock worth $258,444,000 after purchasing an additional 2,389,391 shares in the last quarter. State Street Corp increased its stake in shares of Entergy by 8.1% in the first quarter. State Street Corp now owns 12,122,596 shares of the utilities provider’s stock valued at $1,415,313,000 after buying an additional 908,932 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Entergy by 64.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,944,167 shares of the utilities provider’s stock worth $209,465,000 after buying an additional 762,393 shares during the period. Millennium Management LLC grew its holdings in Entergy by 86.0% during the 4th quarter. Millennium Management LLC now owns 1,633,335 shares of the utilities provider’s stock worth $183,750,000 after acquiring an additional 754,971 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Entergy by 9.0% in the 1st quarter. Bank of America Corp DE now owns 9,045,944 shares of the utilities provider’s stock valued at $974,610,000 after acquiring an additional 745,974 shares during the period. 86.52% of the stock is currently owned by institutional investors.
Insider Transactions at Entergy
In related news, EVP Marcus V. Brown sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $95.40, for a total transaction of $1,287,900.00. Following the completion of the sale, the executive vice president now owns 9,251 shares in the company, valued at $882,545.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.
Entergy Stock Performance
Entergy (NYSE:ETR – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.30. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $4.22 billion. Entergy had a return on equity of 10.77% and a net margin of 11.56%. During the same period in the prior year, the firm posted $2.84 EPS. On average, analysts expect that Entergy Co. will post 6.72 EPS for the current fiscal year.
Entergy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be given a dividend of $1.13 per share. The ex-dividend date is Monday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a dividend yield of 4.60%. Entergy’s dividend payout ratio (DPR) is currently 64.94%.
Analyst Ratings Changes
ETR has been the topic of several analyst reports. Morgan Stanley reduced their price objective on shares of Entergy from $97.00 to $92.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 25th. Royal Bank of Canada lowered Entergy from an “outperform” rating to a “sector perform” rating and set a $117.00 price target on the stock. in a research report on Wednesday, November 8th. StockNews.com began coverage on Entergy in a research report on Thursday, October 5th. They set a “hold” rating for the company. UBS Group upgraded Entergy from a “neutral” rating to a “buy” rating and upped their target price for the company from $103.00 to $118.00 in a report on Monday, November 6th. Finally, Bank of America decreased their target price on shares of Entergy from $107.00 to $94.00 in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $110.17.
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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