Entergy Corporation $ETR Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its stake in Entergy Corporation (NYSE:ETR) by 11.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 81,759 shares of the utilities provider’s stock after selling 10,887 shares during the period. Advisors Asset Management Inc.’s holdings in Entergy were worth $7,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETR. Stratos Wealth Partners LTD. raised its stake in Entergy by 9.4% during the third quarter. Stratos Wealth Partners LTD. now owns 15,439 shares of the utilities provider’s stock worth $1,439,000 after purchasing an additional 1,329 shares during the period. Reaves W H & Co. Inc. increased its holdings in shares of Entergy by 15.7% during the 3rd quarter. Reaves W H & Co. Inc. now owns 2,288,367 shares of the utilities provider’s stock worth $213,253,000 after buying an additional 310,589 shares during the last quarter. Navellier & Associates Inc. purchased a new position in shares of Entergy in the 3rd quarter worth $342,000. Johnson Investment Counsel Inc. boosted its holdings in Entergy by 7.9% in the third quarter. Johnson Investment Counsel Inc. now owns 3,541 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 260 shares during the last quarter. Finally, Prospera Financial Services Inc grew its position in Entergy by 25.1% during the third quarter. Prospera Financial Services Inc now owns 13,774 shares of the utilities provider’s stock valued at $1,284,000 after acquiring an additional 2,760 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ETR. Argus set a $100.00 price objective on Entergy and gave the stock a “buy” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. cut their price target on shares of Entergy from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, December 11th. Bank of America lifted their price target on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. TD Cowen initiated coverage on shares of Entergy in a research report on Friday, January 9th. They issued a “buy” rating and a $108.00 price objective for the company. Finally, Evercore lifted their target price on shares of Entergy from $98.00 to $101.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.83.

Entergy Stock Performance

ETR stock opened at $100.21 on Thursday. Entergy Corporation has a 12-month low of $75.57 and a 12-month high of $101.23. The stock’s 50 day simple moving average is $94.33 and its 200 day simple moving average is $93.17. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62. The firm has a market cap of $44.75 billion, a P/E ratio of 24.74, a P/E/G ratio of 2.22 and a beta of 0.65.

Entergy Dividend Announcement

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

Entergy Profile

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.