Alliancebernstein L.P. increased its position in Entergy Co. (NYSE:ETR) by 5.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 299,927 shares of the utilities provider’s stock after purchasing an additional 15,452 shares during the period. Alliancebernstein L.P. owned about 0.17% of Entergy worth $24,333,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ETR. Cornerstone Wealth Management LLC bought a new stake in Entergy in the 2nd quarter worth approximately $903,000. Massachusetts Financial Services Co. MA bought a new stake in Entergy in the 2nd quarter worth approximately $93,409,000. State of New Jersey Common Pension Fund D increased its stake in Entergy by 29.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 108,700 shares of the utilities provider’s stock worth $8,782,000 after acquiring an additional 25,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Entergy by 11.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 17,090 shares of the utilities provider’s stock worth $1,381,000 after acquiring an additional 1,767 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in Entergy by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 26,393 shares of the utilities provider’s stock worth $2,132,000 after acquiring an additional 657 shares during the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Marcus V. Brown sold 3,600 shares of Entergy stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $85.64, for a total value of $308,304.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sallie T. Rainer sold 2,000 shares of Entergy stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $86.61, for a total value of $173,220.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,750 shares of company stock valued at $2,927,766. Company insiders own 0.24% of the company’s stock.
Shares of Entergy stock opened at $87.06 on Monday. The company has a market capitalization of $15.77 billion, a PE ratio of 12.09, a P/E/G ratio of 1.78 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 Co. has a one year low of $71.95 and a one year high of $87.85.
Entergy (NYSE:ETR) last announced its earnings results on Wednesday, October 31st. The utilities provider reported $3.77 EPS for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.94. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Entergy had a return on equity of 16.94% and a net margin of 4.01%. During the same quarter in the previous year, the business earned $2.35 EPS. As a group, research analysts forecast that Entergy Co. will post 6.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 8th will be issued a $0.91 dividend. This is a boost from Entergy’s previous quarterly dividend of $0.89. The ex-dividend date is Wednesday, November 7th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.18%. Entergy’s payout ratio is 50.56%.
A number of research firms have issued reports on ETR. Wells Fargo & Co lifted their price objective on Entergy from $91.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, September 17th. Bank of America lifted their price objective on Entergy from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, November 1st. Citigroup lifted their price objective on Entergy from $88.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Zacks Investment Research reaffirmed a “strong-buy” rating and issued a $97.00 price objective on shares of Entergy in a research note on Tuesday, November 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Entergy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 29th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Entergy has an average rating of “Buy” and an average price target of $89.63.
TRADEMARK VIOLATION WARNING: “Entergy Co. (ETR) Position Boosted by Alliancebernstein L.P.” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/12/03/entergy-co-etr-position-boosted-by-alliancebernstein-l-p.html.
Entergy Company Profile
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.
Read More: What is the Dividend Aristocrat Index?
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.