Candriam Luxembourg S.C.A. Acquires 6,976 Shares of Entergy Co. (ETR)

Candriam Luxembourg S.C.A. boosted its holdings in shares of Entergy Co. (NYSE:ETR) by 37.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,720 shares of the utilities provider’s stock after purchasing an additional 6,976 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Entergy were worth $2,087,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. BTC Capital Management Inc. raised its holdings in shares of Entergy by 1.4% during the second quarter. BTC Capital Management Inc. now owns 43,863 shares of the utilities provider’s stock valued at $3,542,000 after acquiring an additional 599 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Entergy by 2.6% during the second quarter. Commonwealth Equity Services LLC now owns 26,393 shares of the utilities provider’s stock valued at $2,132,000 after acquiring an additional 657 shares during the period. Reinhart Partners Inc. raised its holdings in shares of Entergy by 0.3% during the third quarter. Reinhart Partners Inc. now owns 204,714 shares of the utilities provider’s stock valued at $16,608,000 after acquiring an additional 666 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Entergy by 3.8% during the second quarter. Baird Financial Group Inc. now owns 20,230 shares of the utilities provider’s stock valued at $1,634,000 after acquiring an additional 748 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of Entergy by 7.5% during the third quarter. Chicago Partners Investment Group LLC now owns 11,404 shares of the utilities provider’s stock valued at $958,000 after acquiring an additional 800 shares during the period. 90.35% of the stock is owned by institutional investors and hedge funds.

Entergy stock opened at $85.35 on Friday. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.77 and a beta of 0.39. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.88. Entergy Co. has a twelve month low of $71.95 and a twelve month high of $87.85.

Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $3.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.94. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $2.85 billion. Entergy had a net margin of 4.01% and a return on equity of 16.94%. During the same quarter in the prior year, the business earned $2.35 EPS. Equities research analysts forecast that Entergy Co. will post 6.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 8th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 4.26%. The ex-dividend date is Wednesday, November 7th. This is a positive change from Entergy’s previous quarterly dividend of $0.89. Entergy’s dividend payout ratio is currently 50.56%.

A number of equities research analysts have recently issued reports on ETR shares. Bank of America boosted their price target on shares of Entergy from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. UBS Group upgraded shares of Entergy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $92.00 in a report on Friday, August 3rd. Citigroup boosted their price target on shares of Entergy from $88.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, October 17th. Morgan Stanley set a $86.00 price target on shares of Entergy and gave the company a “hold” rating in a report on Thursday, October 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Entergy from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, August 29th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $89.63.

In other Entergy news, insider Haley Fisackerly sold 4,900 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $87.00, for a total value of $426,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Paul D. Hinnenkamp sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $86.00, for a total transaction of $516,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,750 shares of company stock worth $2,927,766. Company insiders own 0.24% of the company’s stock.

WARNING: “Candriam Luxembourg S.C.A. Acquires 6,976 Shares of Entergy Co. (ETR)” was reported by WKRB News and is the sole property of of WKRB News. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.wkrb13.com/2018/11/23/candriam-luxembourg-s-c-a-acquires-6976-shares-of-entergy-co-etr.html.

About Entergy

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.

See Also: Call Option

Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Co. (NYSE:ETR).

Institutional Ownership by Quarter for Entergy (NYSE:ETR)

Receive News & Ratings for Entergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entergy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply