Lord Abbett & CO. LLC Sells 4,840 Shares of Entergy Co. (NYSE:ETR)

Lord Abbett & CO. LLC lowered its holdings in shares of Entergy Co. (NYSE:ETR) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,820 shares of the utilities provider’s stock after selling 4,840 shares during the period. Lord Abbett & CO. LLC owned approximately 0.11% of Entergy worth $22,029,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Entergy by 0.3% in the second quarter. Vanguard Group Inc. now owns 23,020,636 shares of the utilities provider’s stock worth $2,295,158,000 after buying an additional 67,725 shares during the last quarter. BlackRock Inc. raised its holdings in Entergy by 1.9% in the third quarter. BlackRock Inc. now owns 15,821,784 shares of the utilities provider’s stock worth $1,571,260,000 after buying an additional 289,049 shares during the last quarter. State Street Corp raised its holdings in Entergy by 0.3% in the second quarter. State Street Corp now owns 10,695,304 shares of the utilities provider’s stock worth $1,066,322,000 after buying an additional 32,868 shares during the last quarter. Invesco Ltd. raised its holdings in Entergy by 5.0% in the second quarter. Invesco Ltd. now owns 7,464,146 shares of the utilities provider’s stock worth $744,176,000 after buying an additional 356,054 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Entergy by 4.2% in the second quarter. Bank of America Corp DE now owns 6,650,583 shares of the utilities provider’s stock worth $663,063,000 after buying an additional 265,537 shares during the last quarter. 89.00% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on ETR shares. Vertical Research cut shares of Entergy from a “buy” rating to a “hold” rating and set a $117.00 price objective for the company. in a report on Monday, January 10th. Morgan Stanley cut shares of Entergy from an “equal weight” rating to an “underweight” rating and set a $106.00 price objective for the company. in a report on Thursday, January 6th. Mizuho boosted their price objective on shares of Entergy from $114.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, October 21st. Finally, BMO Capital Markets decreased their price objective on shares of Entergy from $121.00 to $117.00 and set an “outperform” rating for the company in a report on Monday, September 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $115.33.

In other Entergy news, insider Laura R. Landreaux sold 450 shares of the company’s stock in a transaction that occurred on Friday, November 19th. The shares were sold at an average price of $105.75, for a total value of $47,587.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Shares of NYSE ETR opened at $111.07 on Friday. The firm has a 50 day moving average of $107.39 and a 200 day moving average of $106.33. The company has a current ratio of 0.64, a quick ratio of 0.46 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $22.32 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 17.47 and a beta of 0.63. Entergy Co. has a 12-month low of $85.78 and a 12-month high of $115.01.

Entergy (NYSE:ETR) last announced its earnings results on Wednesday, November 3rd. The utilities provider reported $2.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.05). The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.01 billion. Entergy had a net margin of 11.11% and a return on equity of 11.08%. During the same quarter last year, the firm posted $2.44 earnings per share. Sell-side analysts predict that Entergy Co. will post 6 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 1st. Investors of record on Monday, November 15th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.64%. This is a positive change from Entergy’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Friday, November 12th. Entergy’s payout ratio is 65.27%.

Entergy Profile

Entergy Corp. is a holding company, which engages in electric power generation and distribution. It operates through the following segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution, and sale of electric power; and operations of a natural gas distribution business.

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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