Executive Wealth Management LLC raised its stake in shares of Entergy Co. (NYSE:ETR) by 19.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,236 shares of the utilities provider’s stock after purchasing an additional 5,982 shares during the period. Executive Wealth Management LLC’s holdings in Entergy were worth $3,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Entergy by 13.5% during the 1st quarter. FMR LLC now owns 3,784,148 shares of the utilities provider’s stock valued at $361,878,000 after purchasing an additional 448,737 shares during the last quarter. Northern Trust Corp raised its stake in shares of Entergy by 2.5% during the 1st quarter. Northern Trust Corp now owns 2,553,047 shares of the utilities provider’s stock valued at $244,148,000 after buying an additional 61,297 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Entergy by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,475,894 shares of the utilities provider’s stock valued at $212,751,000 after buying an additional 168,371 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Entergy by 16.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,723,736 shares of the utilities provider’s stock valued at $177,423,000 after acquiring an additional 237,855 shares during the period. Finally, Pictet Asset Management Ltd. grew its position in shares of Entergy by 36.2% during the 1st quarter. Pictet Asset Management Ltd. now owns 1,601,350 shares of the utilities provider’s stock valued at $153,137,000 after acquiring an additional 425,288 shares during the period. Institutional investors and hedge funds own 87.82% of the company’s stock.
A number of equities research analysts have recently commented on the company. UBS Group set a $115.00 target price on Entergy and gave the company a “buy” rating in a research report on Monday, July 15th. Zacks Investment Research cut Entergy from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Morgan Stanley lifted their price objective on Entergy from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. ValuEngine upgraded Entergy from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, Macquarie set a $100.00 target price on Entergy and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $99.22.
Entergy (NYSE:ETR) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $1.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.03). The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a net margin of 8.97% and a return on equity of 13.75%. During the same period in the previous year, the firm posted $1.42 EPS. As a group, research analysts forecast that Entergy Co. will post 5.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 8th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, August 7th. Entergy’s payout ratio is presently 49.79%.
In other news, EVP Marcus V. Brown sold 21,443 shares of Entergy stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $98.00, for a total transaction of $2,101,414.00. Following the sale, the executive vice president now owns 39,477 shares of the company’s stock, valued at approximately $3,868,746. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sallie T. Rainer sold 2,600 shares of Entergy stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $98.00, for a total transaction of $254,800.00. Following the sale, the insider now directly owns 16,471 shares in the company, valued at approximately $1,614,158. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,041 shares of company stock worth $11,366,147. Corporate insiders own 0.27% of the company’s stock.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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