CIBC Asset Management Inc Acquires 30,600 Shares of Entergy Corporation (NYSE:ETR)

CIBC Asset Management Inc boosted its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 51.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,385 shares of the utilities provider's stock after purchasing an additional 30,600 shares during the period. CIBC Asset Management Inc's holdings in Entergy were worth $6,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Entergy in the third quarter valued at approximately $27,000. Fortitude Family Office LLC grew its holdings in shares of Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider's stock worth $29,000 after purchasing an additional 178 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of Entergy in the third quarter valued at $31,000. Ashton Thomas Securities LLC bought a new position in shares of Entergy in the third quarter valued at about $42,000. Finally, Capital Performance Advisors LLP acquired a new position in Entergy during the 3rd quarter worth about $51,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ETR. BMO Capital Markets boosted their target price on shares of Entergy from $79.00 to $94.00 and gave the stock an "outperform" rating in a research note on Wednesday. Bank of America downgraded Entergy from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $69.00 to $77.00 in a report on Monday, November 4th. UBS Group boosted their target price on Entergy from $72.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Morgan Stanley upgraded Entergy from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $58.00 to $75.00 in a research report on Monday, November 4th. Finally, LADENBURG THALM/SH SH upgraded shares of Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price target for the company in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $82.14.

Entergy Stock Down 1.1 %

Shares of ETR stock traded down $0.92 during trading hours on Friday, hitting $84.94. 4,755,056 shares of the company were exchanged, compared to its average volume of 3,959,623. Entergy Corporation has a 52 week low of $49.80 and a 52 week high of $88.38. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average of $79.45 and a two-hundred day moving average of $71.49. The company has a market capitalization of $36.56 billion, a PE ratio of 34.88, a PEG ratio of 2.34 and a beta of 0.72.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.03. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the firm earned $0.26 EPS. Analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, February 10th. Entergy's dividend payout ratio (DPR) is currently 98.56%.

Insiders Place Their Bets

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the transaction, the insider now directly owns 3,952 shares of the company's stock, valued at approximately $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

Entergy Company Profile

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.