Russell Investments Group Ltd. Lowers Stake in Entergy Co. (NYSE:ETR)

Russell Investments Group Ltd. lessened its stake in shares of Entergy Co. (NYSE:ETRGet Rating) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 443,999 shares of the utilities provider’s stock after selling 36,844 shares during the period. Russell Investments Group Ltd. owned 0.22% of Entergy worth $44,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Entergy by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 23,663,740 shares of the utilities provider’s stock worth $2,762,741,000 after purchasing an additional 650,775 shares during the last quarter. State Street Corp raised its position in shares of Entergy by 4.8% during the 2nd quarter. State Street Corp now owns 12,704,364 shares of the utilities provider’s stock worth $1,431,020,000 after purchasing an additional 581,768 shares during the last quarter. FMR LLC raised its position in shares of Entergy by 36.6% during the 2nd quarter. FMR LLC now owns 7,891,697 shares of the utilities provider’s stock worth $888,921,000 after purchasing an additional 2,116,058 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Entergy by 13.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,061,140 shares of the utilities provider’s stock worth $344,807,000 after purchasing an additional 361,736 shares during the last quarter. Finally, Pictet Asset Management SA raised its position in shares of Entergy by 1.5% during the 2nd quarter. Pictet Asset Management SA now owns 2,638,545 shares of the utilities provider’s stock worth $297,206,000 after purchasing an additional 39,839 shares during the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.

Entergy Stock Up 0.5 %

Shares of NYSE ETR opened at $107.27 on Wednesday. The company has a 50 day simple moving average of $112.07 and a 200-day simple moving average of $111.73. The company has a market capitalization of $21.83 billion, a P/E ratio of 17.41, a P/E/G ratio of 2.64 and a beta of 0.64. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.90 and a quick ratio of 0.69. Entergy Co. has a 1 year low of $94.94 and a 1 year high of $126.82.

Entergy (NYSE:ETRGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The utilities provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.17. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Entergy had a net margin of 9.46% and a return on equity of 11.55%. On average, equities research analysts predict that Entergy Co. will post 6.38 earnings per share for the current year.

Entergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Monday, November 14th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.99%. This is a boost from Entergy’s previous quarterly dividend of $1.01. Entergy’s dividend payout ratio (DPR) is presently 69.48%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ETR shares. Credit Suisse Group upped their price target on shares of Entergy from $108.00 to $117.00 and gave the stock an “outperform” rating in a research report on Friday, November 4th. Morgan Stanley cut their price objective on shares of Entergy from $110.00 to $108.00 and set an “underweight” rating for the company in a report on Monday. Wells Fargo & Company increased their price objective on shares of Entergy from $123.00 to $135.00 in a report on Wednesday, December 14th. BMO Capital Markets increased their price objective on shares of Entergy from $111.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Finally, Guggenheim cut their price objective on shares of Entergy from $129.00 to $117.00 in a report on Monday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $122.80.

Entergy Company Profile

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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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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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