CIBC Asset Management Inc Sells 65,735 Shares of Entergy Co. (NYSE:ETR)

CIBC Asset Management Inc trimmed its position in Entergy Co. (NYSE:ETR) by 71.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,656 shares of the utilities provider’s stock after selling 65,735 shares during the period. CIBC Asset Management Inc’s holdings in Entergy were worth $2,501,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. NuWave Investment Management LLC bought a new position in Entergy in the 2nd quarter valued at $30,000. Private Ocean LLC bought a new position in Entergy in the 1st quarter valued at $33,000. Retirement Network bought a new position in Entergy in the 1st quarter valued at $37,000. West Bancorporation Inc. bought a new position in Entergy in the 1st quarter valued at $38,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Entergy by 447.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 400 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 327 shares during the period. 86.13% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on ETR shares. JPMorgan Chase & Co. lowered their price objective on shares of Entergy from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Morgan Stanley raised their price objective on shares of Entergy from $102.00 to $107.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Mizuho raised their price objective on shares of Entergy from $95.00 to $113.00 and gave the company a “buy” rating in a research report on Monday, April 27th. BMO Capital Markets upgraded shares of Entergy from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $115.00 to $107.00 in a research report on Thursday, May 21st. Finally, Wells Fargo & Co lowered their price objective on shares of Entergy from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $116.46.

ETR stock opened at $105.13 on Friday. The company has a market cap of $21.04 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 3.28 and a beta of 0.55. Entergy Co. has a 1 year low of $75.19 and a 1 year high of $135.55. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.58 and a quick ratio of 0.49. The stock’s fifty day moving average price is $97.55 and its 200-day moving average price is $106.16.

Entergy (NYSE:ETR) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.11. Entergy had a return on equity of 11.36% and a net margin of 11.95%. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the company posted $1.35 earnings per share. As a group, analysts expect that Entergy Co. will post 5.57 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.54%. Entergy’s payout ratio is 68.89%.

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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