Nordea Investment Management AB has reduced its stake in Entergy Co. (NYSE:ETR – Get Rating) at 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 385,986 shares of the utility provider after selling 12,005 shares during the quarter. Nordea Investment Management AB’s stakes in Entergy were worth $45,458,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their ETR holdings. Deseret Mutual Benefit Administrators increased its holdings in Entergy by 7.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,266 shares of the utility provider worth $143,000 after purchasing an additional 92 shares during the last quarter. The Louisiana State Employee Retirement System increased its holdings in Entergy by 0.8% during the fourth quarter. The Louisiana State Employee Retirement System now owns 12,600 shares of the utility provider worth $1,419,000 after purchasing an additional 100 shares during the last quarter. Denali Advisors LLC increased its holdings in Entergy by 50.0% during the fourth quarter. Denali Advisors LLC now owns 300 shares of the utility provider worth $34,000 after purchasing an additional 100 shares during the last quarter. Bailard Inc. increased its holdings in Entergy by 5.2% during the fourth quarter. Bailard Inc. now owns 2,336 shares of the utility provider worth $263,000 after buying 115 more shares during the last quarter. Finally, Delta Financial Advisors LLC increased its holdings in Entergy by 0.5% during the fourth quarter. Delta Financial Advisors LLC now owns 23,484 shares of the utility provider worth $2,645,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 88.94% of the company’s shares.
ETR has been the subject of a number of research analyst reports. StockNews.com began coverage of Entergy in a research report on Thursday, March 31. They set a “hold” rating on the stock. Hauck Aufhäuser In… set a price target of $28.00 for Entergy in a research report on Wednesday, May 18. Goldman Sachs Group set a price target of $224.00 for Entergy in a research report on Monday, May 16. Wells Fargo & Company lowered its price target for Entergy from $140.00 to $125.00 in a research report on Tuesday. Finally, UBS Group set a price target of $123.00 for Entergy in a research report on Monday. One investment analyst rated the stock a sell rating, four issued a hold rating and four gave the company’s stock a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $121.50.
In other news, insider Deanna D. Rodriguez sold 256 shares of Entergy in a transaction that took place on Friday, April 29. The stock sold at an average price of $120.22, for a total transaction of $30,776.32. Upon completion of the transaction, the insider now directly owns 3,108 shares of the company, valued at approximately $373,643.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In addition, COO Paul D. Hinnenkamp sold 6,500 shares of Entergy in a transaction that took place on Friday, May 27th. The stock sold at an average price of $120.94 for a total value of $786,110.00. Following the transaction, the COO now owns 26,102 shares of the company, valued at $3,156,775.88. Disclosure for this sale can be found here. Insiders have sold a total of 205,290 shares of the company worth $24,337,828 in the past ninety days. Insiders own 0.37% of the company’s shares.
Entergy shares opened at $104.63 on Thursday. The company’s 50-day simple moving average is $117.52 and its 200-day simple moving average is $113.01. Entergy Co. has a 52-week low of $98.50 and a 52-week high of $126.82. The company has a market cap of $21.28 billion, a P/E ratio of 19.97, a P/E/E ratio of 2.66 and a beta of 0.58. The company has a debt ratio of 2.24, an immediate liquidity ratio of 0.49 and a current ratio of 0.72.
Entergy (NYSE:ETR – Get Rating) last published its quarterly results on Wednesday, April 27. The utility provider reported earnings of $1.32 per share for the quarter, missing the consensus estimate of $1.38 per share ($0.06). The company had revenue of $2.88 billion for the quarter, compared with analyst estimates of $2.90 billion. Entergy had a return on equity of 10.44% and a net margin of 8.99%. During the same period last year, the company earned $1.47 EPS. As a group, equity research analysts predict that Entergy Co. will record 6.34 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1. Shareholders of record on Thursday, May 5, received a dividend of $1.01 per share. This represents an annualized dividend of $4.04 and a dividend yield of 3.86%. The ex-dividend date of this dividend was Wednesday, May 4th. Entergy’s dividend payout ratio (DPR) is 77.10%.
About Entergy (Get Rating)
Entergy Corporation, along with its subsidiaries, is active in the production and distribution of electricity in the United States. It operates in two segments, Utility and Entergy Wholesale Commodities. The utilities segment generates, transmits, distributes and sells electrical energy in parts of Arkansas, Louisiana, Mississippi and Texas, including the city of New Orleans; and distributes natural gas.
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