OppenheimerFunds Inc. reduced its position in Entergy Co. (NYSE:ETR) by 15.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 776,935 shares of the utilities provider’s stock after selling 139,199 shares during the period. OppenheimerFunds Inc.’s holdings in Entergy were worth $63,235,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in ETR. Bank of Montreal Can grew its stake in Entergy by 39.5% in the 4th quarter. Bank of Montreal Can now owns 2,001,135 shares of the utilities provider’s stock worth $162,873,000 after acquiring an additional 567,130 shares during the period. Systematic Financial Management LP grew its stake in shares of Entergy by 159.6% during the 4th quarter. Systematic Financial Management LP now owns 670,953 shares of the utilities provider’s stock valued at $54,609,000 after buying an additional 412,477 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Entergy by 12,733.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 380,643 shares of the utilities provider’s stock valued at $30,981,000 after buying an additional 377,677 shares during the period. Principal Financial Group Inc. grew its stake in shares of Entergy by 27.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,152,906 shares of the utilities provider’s stock valued at $88,036,000 after buying an additional 250,267 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Entergy by 283.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 326,226 shares of the utilities provider’s stock valued at $25,015,000 after buying an additional 241,100 shares during the period. 82.31% of the stock is owned by hedge funds and other institutional investors.
Entergy Co. (NYSE:ETR) opened at $77.74 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.47 and a debt-to-equity ratio of 1.79. The firm has a market cap of $14,012.74, a price-to-earnings ratio of 34.10, a P/E/G ratio of 2.31 and a beta of 0.50. Entergy Co. has a 1-year low of $71.95 and a 1-year high of $87.95.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 8th will be issued a $0.89 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $3.56 dividend on an annualized basis and a yield of 4.58%. Entergy’s dividend payout ratio is currently 156.14%.
Several brokerages have recently issued reports on ETR. Guggenheim reissued a “buy” rating and set a $101.00 price objective on shares of Entergy in a research note on Wednesday, January 3rd. Mizuho raised shares of Entergy from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Morgan Stanley boosted their price objective on shares of Entergy from $86.00 to $88.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. TheStreet cut shares of Entergy from a “b-” rating to a “c+” rating in a research note on Wednesday, December 6th. Finally, UBS Group began coverage on shares of Entergy in a research note on Friday, February 2nd. They set a “neutral” rating and a $82.00 price objective for the company. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $82.57.
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Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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