Envestnet Asset Management Inc. Has $177.47 Million Stock Holdings in Entergy Corporation $ETR

Envestnet Asset Management Inc. grew its holdings in Entergy Corporation (NYSE:ETR) by 3.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,904,423 shares of the utilities provider’s stock after acquiring an additional 64,434 shares during the period. Envestnet Asset Management Inc.’s holdings in Entergy were worth $177,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETR. New York State Teachers Retirement System lifted its holdings in shares of Entergy by 5.4% in the third quarter. New York State Teachers Retirement System now owns 433,613 shares of the utilities provider’s stock worth $40,408,000 after acquiring an additional 22,148 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Entergy by 3.9% during the third quarter. New York State Common Retirement Fund now owns 184,690 shares of the utilities provider’s stock worth $17,211,000 after acquiring an additional 7,000 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Entergy by 13.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,279 shares of the utilities provider’s stock worth $5,524,000 after acquiring an additional 7,212 shares during the period. World Investment Advisors grew its holdings in Entergy by 269.9% during the 3rd quarter. World Investment Advisors now owns 22,384 shares of the utilities provider’s stock worth $2,086,000 after acquiring an additional 16,332 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Entergy by 124.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 24,949 shares of the utilities provider’s stock worth $2,335,000 after buying an additional 13,841 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ralph Lewis Ropp acquired 1,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was acquired at an average price of $96.69 per share, with a total value of $96,690.00. Following the completion of the transaction, the director owned 1,050 shares of the company’s stock, valued at $101,524.50. This represents a 2,000.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Entergy Stock Up 1.2%

ETR opened at $98.04 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62. Entergy Corporation has a 12 month low of $75.57 and a 12 month high of $98.58. The business’s 50-day moving average price is $94.00 and its 200-day moving average price is $92.90. The company has a market cap of $43.78 billion, a P/E ratio of 24.21, a P/E/G ratio of 2.16 and a beta of 0.65.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be issued a $0.64 dividend. The ex-dividend date is Monday, February 9th. This represents a $2.56 annualized dividend and a yield of 2.6%. Entergy’s dividend payout ratio (DPR) is 63.21%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ETR shares. TD Cowen initiated coverage on shares of Entergy in a report on Friday, January 9th. They set a “buy” rating and a $108.00 price objective on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $104.00 price target (up from $96.00) on shares of Entergy in a report on Tuesday, October 14th. Morgan Stanley reiterated an “underperform” rating on shares of Entergy in a research report on Wednesday, January 21st. KeyCorp set a $102.00 target price on Entergy and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, UBS Group reaffirmed a “buy” rating and set a $105.00 target price (up previously from $96.00) on shares of Entergy in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.83.

About Entergy

Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.