Gulf International Bank UK Ltd Grows Stake in Entergy Co. (ETR)

Gulf International Bank UK Ltd lifted its stake in shares of Entergy Co. (NYSE:ETR) by 12.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 62,882 shares of the utilities provider’s stock after acquiring an additional 7,000 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Entergy were worth $5,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. FMR LLC boosted its stake in shares of Entergy by 256.4% during the 2nd quarter. FMR LLC now owns 2,585,554 shares of the utilities provider’s stock worth $208,886,000 after acquiring an additional 1,860,030 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Entergy by 107.5% during the 2nd quarter. Millennium Management LLC now owns 2,700,290 shares of the utilities provider’s stock worth $218,156,000 after acquiring an additional 1,398,892 shares in the last quarter. Luminus Management LLC bought a new stake in shares of Entergy during the 2nd quarter worth $110,530,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Entergy during the 2nd quarter worth $93,409,000. Finally, Boston Partners boosted its stake in shares of Entergy by 38.4% during the 2nd quarter. Boston Partners now owns 2,824,231 shares of the utilities provider’s stock worth $228,170,000 after acquiring an additional 784,238 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on ETR shares. Morgan Stanley raised their price objective on Entergy from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Goldman Sachs Group raised Entergy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $87.00 to $88.00 in a research note on Thursday, July 19th. Howard Weil started coverage on Entergy in a research note on Tuesday, July 24th. They set a “sector perform” rating and a $84.00 price objective for the company. Scotiabank started coverage on Entergy in a research note on Tuesday, July 24th. They set a “hold” rating and a $84.00 price objective for the company. Finally, UBS Group raised Entergy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $92.00 in a research note on Friday, August 3rd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $89.04.

Shares of Entergy stock opened at $85.56 on Friday. The firm has a market capitalization of $15.42 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.74 and a beta of 0.39. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.88. Entergy Co. has a 12 month low of $71.95 and a 12 month high of $87.95.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, October 31st. The utilities provider reported $3.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.94. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Entergy had a return on equity of 16.94% and a net margin of 4.01%. During the same quarter last year, the firm posted $2.35 earnings per share. As a group, analysts predict that Entergy Co. will post 6.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 8th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Wednesday, November 7th. This is a boost from Entergy’s previous quarterly dividend of $0.89. Entergy’s dividend payout ratio (DPR) is 50.56%.

In other news, COO Paul D. Hinnenkamp sold 6,500 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $85.00, for a total value of $552,500.00. Following the completion of the sale, the chief operating officer now owns 27,568 shares of the company’s stock, valued at $2,343,280. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Haley Fisackerly sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $84.97, for a total value of $233,667.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,450 shares of company stock valued at $1,228,168. 0.24% of the stock is currently owned by insiders.

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Entergy Profile

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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