B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Entergy Corporation (NYSE:ETR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,284 shares of the utilities provider's stock, valued at approximately $564,000.
Other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in Entergy by 47.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,479,044 shares of the utilities provider's stock valued at $693,260,000 after acquiring an additional 2,075,776 shares in the last quarter. Millennium Management LLC grew its position in Entergy by 185.5% in the 2nd quarter. Millennium Management LLC now owns 1,876,672 shares of the utilities provider's stock worth $200,804,000 after purchasing an additional 1,219,419 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Entergy by 12.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,926,492 shares of the utilities provider's stock valued at $741,135,000 after buying an additional 763,834 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Entergy by 89.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,073,603 shares of the utilities provider's stock worth $114,876,000 after buying an additional 506,239 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Entergy by 16,409.2% in the 3rd quarter. International Assets Investment Management LLC now owns 466,716 shares of the utilities provider's stock worth $61,424,000 after buying an additional 463,889 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.
Insiders Place Their Bets
In related news, CEO Andrew S. Marsh sold 600 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the completion of the sale, the chief executive officer now directly owns 150,731 shares in the company, valued at $18,092,241.93. This represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Peter S. Norgeot, Jr. sold 3,250 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $122.56, for a total value of $398,320.00. Following the completion of the sale, the chief operating officer now directly owns 34,993 shares in the company, valued at $4,288,742.08. The trade was a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,472 shares of company stock valued at $5,076,328 over the last three months. Insiders own 0.54% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on ETR. Mizuho boosted their price objective on Entergy from $138.00 to $165.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Royal Bank of Canada boosted their target price on shares of Entergy from $137.00 to $140.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. KeyCorp lifted their price target on shares of Entergy from $143.00 to $162.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Scotiabank increased their price objective on Entergy from $119.00 to $144.00 and gave the company a "sector perform" rating in a report on Friday, November 1st. Finally, Morgan Stanley upgraded Entergy from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $116.00 to $150.00 in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Entergy currently has an average rating of "Moderate Buy" and a consensus price target of $150.42.
Check Out Our Latest Analysis on ETR
Entergy Price Performance
NYSE:ETR traded up $1.48 during mid-day trading on Monday, hitting $152.54. 2,659,454 shares of the stock traded hands, compared to its average volume of 1,620,061. The business's 50-day moving average price is $138.22 and its 200 day moving average price is $121.94. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The company has a market cap of $32.71 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.52 and a beta of 0.71. Entergy Corporation has a 12-month low of $96.15 and a 12-month high of $156.85.
Entergy's stock is set to split on the morning of Friday, December 13th. The 2-1 split was announced on Thursday, October 31st. The newly issued shares will be issued to shareholders after the market closes on Thursday, December 12th.
Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.91 by $0.08. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the company posted $3.27 EPS. On average, analysts expect that Entergy Corporation will post 7.22 EPS for the current fiscal year.
Entergy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Wednesday, November 13th. This is a boost from Entergy's previous quarterly dividend of $1.13. Entergy's dividend payout ratio (DPR) is presently 58.47%.
Entergy Profile
(
Free Report)
Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.
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