Jennison Associates LLC Acquires Shares of 281,703 Entergy Co. (NYSE:ETR)

Jennison Associates LLC acquired a new stake in Entergy Co. (NYSE:ETR) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 281,703 shares of the utilities provider’s stock, valued at approximately $28,506,000. Jennison Associates LLC owned about 0.13% of Entergy at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of Entergy by 157.1% in the third quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 165 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Entergy during the third quarter worth about $32,000. Fortis Group Advisors LLC bought a new stake in Entergy during the third quarter worth about $32,000. CVA Family Office LLC bought a new stake in Entergy during the fourth quarter worth about $41,000. Finally, Millburn Ridgefield Corp bought a new stake in Entergy during the third quarter worth about $43,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Price Performance

Shares of NYSE:ETR opened at $106.46 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.32 and a debt-to-equity ratio of 1.57. The stock’s fifty day simple moving average is $103.13 and its two-hundred day simple moving average is $100.53. Entergy Co. has a 1-year low of $87.10 and a 1-year high of $109.53. The stock has a market cap of $22.70 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 2.12 and a beta of 0.71.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a return on equity of 10.54% and a net margin of 19.41%. The firm had revenue of $31.17 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business posted $1.14 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, analysts forecast that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Wednesday, May 1st. Entergy’s payout ratio is presently 40.76%.

Analysts Set New Price Targets

Several research firms recently weighed in on ETR. BMO Capital Markets upped their price objective on shares of Entergy from $110.00 to $113.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. KeyCorp increased their target price on shares of Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Scotiabank dropped their target price on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $117.00 target price on shares of Entergy in a research report on Monday, February 26th. Finally, Barclays decreased their target price on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $109.45.

Insider Buying and Selling at Entergy

In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of Entergy stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $102.84, for a total transaction of $874,140.00. Following the completion of the transaction, the executive vice president now owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Deanna D. Rodriguez sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $101.23, for a total value of $151,845.00. Following the transaction, the insider now directly owns 3,442 shares in the company, valued at $348,433.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $102.84, for a total transaction of $874,140.00. Following the completion of the transaction, the executive vice president now owns 9,911 shares in the company, valued at $1,019,247.24. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $1,226,685 in the last quarter. 0.39% of the stock is currently owned by corporate insiders.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.