Los Angeles Capital Management & Equity Research Inc. lowered its stake in Entergy Co. (NYSE:ETR) by 12.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 207,331 shares of the utilities provider’s stock after selling 29,030 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.11% of Entergy worth $16,821,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its holdings in Entergy by 256.4% during the 2nd quarter. FMR LLC now owns 2,585,554 shares of the utilities provider’s stock worth $208,886,000 after buying an additional 1,860,030 shares during the last quarter. Millennium Management LLC increased its position in Entergy by 107.5% in the 2nd quarter. Millennium Management LLC now owns 2,700,290 shares of the utilities provider’s stock valued at $218,156,000 after acquiring an additional 1,398,892 shares during the period. Luminus Management LLC acquired a new stake in Entergy in the 2nd quarter valued at approximately $110,530,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Entergy during the 2nd quarter valued at $93,409,000. Finally, Boston Partners increased its position in shares of Entergy by 38.4% during the 2nd quarter. Boston Partners now owns 2,824,231 shares of the utilities provider’s stock valued at $228,170,000 after purchasing an additional 784,238 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ETR opened at $85.56 on Friday. Entergy Co. has a 52-week low of $71.95 and a 52-week high of $87.95. The stock has a market capitalization of $15.45 billion, a P/E ratio of 11.40, a PEG ratio of 1.75 and a beta of 0.39. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.64 and a quick ratio of 0.49.
Entergy (NYSE:ETR) last released its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $3.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.94. Entergy had a net margin of 4.01% and a return on equity of 16.94%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the firm earned $2.35 EPS. On average, sell-side analysts expect that Entergy Co. will post 6.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 8th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $3.64 dividend on an annualized basis and a yield of 4.25%. This is a positive change from Entergy’s previous quarterly dividend of $0.89. Entergy’s dividend payout ratio (DPR) is currently 50.56%.
Several equities research analysts have recently weighed in on ETR shares. Morgan Stanley raised their price objective on Entergy from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Goldman Sachs Group raised Entergy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $87.00 to $88.00 in a research report on Thursday, July 19th. Howard Weil initiated coverage on Entergy in a research report on Tuesday, July 24th. They set a “sector perform” rating and a $84.00 price objective for the company. Scotiabank initiated coverage on Entergy in a report on Tuesday, July 24th. They set a “hold” rating and a $84.00 target price on the stock. Finally, UBS Group upgraded Entergy from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $92.00 in a report on Friday, August 3rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $89.04.
In other news, insider Haley Fisackerly sold 2,750 shares of Entergy stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $84.97, for a total transaction of $233,667.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Donald W. Vinci sold 5,200 shares of Entergy stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $85.00, for a total transaction of $442,000.00. The disclosure for this sale can be found here. Insiders sold 14,450 shares of company stock worth $1,228,168 in the last 90 days. Company insiders own 0.24% 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.
Featured Article: NASDAQ
Receive News & Ratings for Entergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entergy and related companies with MarketBeat.com's FREE daily email newsletter.