Prudential Financial Inc. lessened its holdings in Entergy Corporation (NYSE:ETR) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 574,275 shares of the utilities provider’s stock after selling 11,300 shares during the quarter. Prudential Financial Inc. owned 0.32% of Entergy Corporation worth $43,851,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Castleton Investment Management LLC acquired a new stake in shares of Entergy Corporation in the 2nd quarter valued at $16,800,000. Principal Financial Group Inc. boosted its holdings in shares of Entergy Corporation by 99.4% in the 2nd quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock valued at $69,296,000 after purchasing an additional 449,986 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Entergy Corporation by 1.0% in the 2nd quarter. BlackRock Inc. now owns 16,243,801 shares of the utilities provider’s stock valued at $1,247,035,000 after purchasing an additional 154,117 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Entergy Corporation by 3.3% in the 2nd quarter. Swiss National Bank now owns 655,522 shares of the utilities provider’s stock valued at $50,324,000 after purchasing an additional 20,800 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Entergy Corporation by 9.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 50,593 shares of the utilities provider’s stock valued at $3,884,000 after purchasing an additional 4,537 shares in the last quarter. 83.86% of the stock is currently owned by hedge funds and other institutional investors.
Entergy Corporation (NYSE:ETR) opened at $85.13 on Friday. The stock has a market capitalization of $15,344.77, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.75 and a beta of 0.57. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.61. Entergy Corporation has a 12-month low of $66.73 and a 12-month high of $87.85.
Entergy Corporation (NYSE:ETR) last announced its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.11. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.13 billion. Entergy Corporation had a positive return on equity of 14.76% and a negative net margin of 7.82%. During the same period last year, the company earned $2.31 EPS. equities research analysts anticipate that Entergy Corporation will post 6.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be given a dividend of $0.89 per share. This is a positive change from Entergy Corporation’s previous quarterly dividend of $0.87. This represents a $3.56 annualized dividend and a yield of 4.18%. The ex-dividend date is Wednesday, November 8th. Entergy Corporation’s dividend payout ratio (DPR) is currently -72.06%.
ETR has been the topic of a number of research analyst reports. TheStreet raised Entergy Corporation from a “c” rating to a “b-” rating in a report on Friday, October 27th. BidaskClub raised Entergy Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. ValuEngine raised Entergy Corporation from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Jefferies Group LLC upgraded Entergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 16th. Finally, Citigroup Inc. upgraded Entergy Corporation from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Friday, October 13th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $82.42.
In related news, insider Sallie T. Rainer sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $77.78, for a total transaction of $77,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marcus V. Brown sold 1,500 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $82.00, for a total value of $123,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,578 shares of company stock valued at $3,408,022. 0.24% of the stock is owned by corporate insiders.
About Entergy Corporation
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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