Millennium Management LLC boosted its holdings in Entergy Co. (NYSE:ETR) by 288.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,606,814 shares of the utilities provider’s stock after buying an additional 1,935,599 shares during the quarter. Millennium Management LLC owned 1.45% of Entergy worth $212,169,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Van ECK Associates Corp raised its position in Entergy by 3.2% in the 3rd quarter. Van ECK Associates Corp now owns 18,593 shares of the utilities provider’s stock worth $1,420,000 after buying an additional 580 shares during the last quarter. Raymond James Trust N.A. raised its position in Entergy by 12.4% in the 4th quarter. Raymond James Trust N.A. now owns 7,072 shares of the utilities provider’s stock worth $576,000 after buying an additional 779 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Entergy by 2.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 37,305 shares of the utilities provider’s stock worth $3,036,000 after buying an additional 786 shares during the last quarter. E&G Advisors LP raised its position in Entergy by 21.6% in the 4th quarter. E&G Advisors LP now owns 4,500 shares of the utilities provider’s stock worth $366,000 after buying an additional 800 shares during the last quarter. Finally, NewSquare Capital LLC raised its position in Entergy by 7.2% in the 4th quarter. NewSquare Capital LLC now owns 12,314 shares of the utilities provider’s stock worth $1,002,000 after buying an additional 828 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Morgan Stanley set a $76.00 target price on Entergy and gave the stock a “hold” rating in a research report on Thursday, March 8th. UBS Group assumed coverage on Entergy in a research report on Friday, February 2nd. They issued a “neutral” rating and a $82.00 target price for the company. Guggenheim reissued a “buy” rating and issued a $101.00 target price on shares of Entergy in a research report on Wednesday, January 3rd. Mizuho raised Entergy from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Finally, TheStreet downgraded Entergy from a “b-” rating to a “c+” rating in a research note on Wednesday, December 6th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $82.57.
Entergy (NYSE:ETR) last released its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.34. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.33 billion. Entergy had a return on equity of 15.79% and a net margin of 3.81%. During the same period in the previous year, the company posted $0.31 EPS. equities research analysts anticipate that Entergy Co. will post 5.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 8th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.62%. Entergy’s dividend payout ratio (DPR) is presently 156.14%.
In related news, SVP Alyson M. Mount sold 10,396 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $78.50, for a total transaction of $816,086.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $78.02, for a total value of $39,010.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
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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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