Smith Shellnut Wilson LLC ADV purchased a new stake in Entergy Co. (NYSE:ETR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,229 shares of the utilities provider’s stock, valued at approximately $213,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETR. Oregon Public Employees Retirement Fund raised its stake in shares of Entergy by 8,450.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,844,755 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 5,776,402 shares during the period. Norges Bank acquired a new stake in shares of Entergy in the 4th quarter valued at about $144,091,000. Zimmer Partners LP raised its stake in shares of Entergy by 191.9% in the 4th quarter. Zimmer Partners LP now owns 1,502,190 shares of the utilities provider’s stock valued at $129,293,000 after purchasing an additional 987,500 shares during the period. Confluence Investment Management LLC acquired a new stake in shares of Entergy in the 1st quarter valued at about $90,313,000. Finally, Janus Henderson Group PLC raised its stake in shares of Entergy by 112.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,485,881 shares of the utilities provider’s stock valued at $142,095,000 after purchasing an additional 786,788 shares during the period. 87.89% of the stock is currently owned by hedge funds and other institutional investors.
ETR has been the topic of several recent research reports. Zacks Investment Research raised Entergy from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research note on Wednesday, April 24th. UBS Group lifted their target price on Entergy from $107.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Macquarie set a $100.00 target price on Entergy and gave the company a “buy” rating in a research report on Thursday, May 2nd. ValuEngine raised Entergy from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley lifted their target price on Entergy from $88.00 to $91.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 12th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $95.17.
Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.12). The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.67 billion. Entergy had a return on equity of 15.17% and a net margin of 9.04%. During the same period last year, the firm earned $0.83 EPS. As a group, equities analysts predict that Entergy Co. will post 5.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Thursday, May 9th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Wednesday, May 8th. Entergy’s dividend payout ratio (DPR) is presently 49.79%.
In other Entergy news, insider Haley Fisackerly sold 3,501 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $97.00, for a total transaction of $339,597.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marcus V. Brown sold 31,300 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $94.92, for a total value of $2,970,996.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 170,032 shares of company stock worth $16,638,028. Company insiders own 0.27% of the company’s stock.
Entergy Company 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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