Swiss National Bank Reduces Stock Holdings in Entergy Co. (NYSE:ETR)

Swiss National Bank trimmed its position in shares of Entergy Co. (NYSE:ETRFree Report) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 679,900 shares of the utilities provider’s stock after selling 86,000 shares during the period. Swiss National Bank owned approximately 0.32% of Entergy worth $62,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ETR. Vanguard Group Inc. grew its position in Entergy by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 23,663,740 shares of the utilities provider’s stock valued at $2,762,741,000 after acquiring an additional 650,775 shares during the last quarter. BlackRock Inc. boosted its holdings in Entergy by 1.5% in the second quarter. BlackRock Inc. now owns 17,680,096 shares of the utilities provider’s stock worth $1,721,511,000 after acquiring an additional 256,120 shares in the last quarter. State Street Corp boosted its holdings in Entergy by 3.1% in the second quarter. State Street Corp now owns 12,739,479 shares of the utilities provider’s stock worth $1,240,443,000 after acquiring an additional 382,751 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Entergy by 11.9% during the first quarter. JPMorgan Chase & Co. now owns 4,664,512 shares of the utilities provider’s stock worth $502,556,000 after purchasing an additional 497,482 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Entergy by 6.2% during the second quarter. Geode Capital Management LLC now owns 4,439,252 shares of the utilities provider’s stock worth $431,098,000 after purchasing an additional 257,697 shares during the period. 86.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Entergy news, EVP Marcus V. Brown sold 38,417 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $101.53, for a total transaction of $3,900,478.01. Following the sale, the executive vice president now directly owns 9,380 shares of the company’s stock, valued at approximately $952,351.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Mizuho lowered their price objective on Entergy from $113.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Barclays upped their target price on Entergy from $99.00 to $104.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Bank of America raised Entergy from a “neutral” rating to a “buy” rating and upped their target price for the company from $94.00 to $110.00 in a research report on Tuesday, November 21st. Morgan Stanley increased their price objective on Entergy from $92.00 to $94.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 21st. Finally, Guggenheim increased their target price on Entergy from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.82.

View Our Latest Analysis on Entergy

Entergy Trading Down 0.2 %

Shares of NYSE:ETR opened at $99.45 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.65 and a debt-to-equity ratio of 1.80. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $111.90. The firm has a fifty day moving average price of $101.24 and a 200 day moving average price of $98.11. The stock has a market capitalization of $21.03 billion, a PE ratio of 14.29, a P/E/G ratio of 1.97 and a beta of 0.71.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Thursday, February 8th. Entergy’s dividend payout ratio is presently 64.94%.

Entergy Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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