iA Global Asset Management Inc. Decreases Stock Position in Entergy Corporation $ETR

iA Global Asset Management Inc. cut its position in Entergy Corporation (NYSE:ETR) by 9.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 106,083 shares of the utilities provider’s stock after selling 10,913 shares during the quarter. iA Global Asset Management Inc.’s holdings in Entergy were worth $8,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ETR. Mattson Financial Services LLC boosted its stake in shares of Entergy by 100.0% in the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 150 shares during the period. Atwood & Palmer Inc. boosted its stake in Entergy by 135.7% during the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Entergy during the 1st quarter valued at $28,000. GoalVest Advisory LLC boosted its stake in Entergy by 5,733.3% during the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 344 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in Entergy during the 1st quarter valued at $32,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Stock Up 0.1%

Entergy stock opened at $96.17 on Monday. The stock has a market cap of $42.93 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 2.40 and a beta of 0.62. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 1.62. The company’s 50-day moving average price is $92.31 and its two-hundred day moving average price is $87.23. Entergy Corporation has a 52 week low of $70.21 and a 52 week high of $98.58.

Entergy (NYSE:ETR) last released its earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The firm had revenue of $2.37 billion for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. On average, analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be given a dividend of $0.64 per share. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, November 13th. This represents a $2.56 annualized dividend and a dividend yield of 2.7%. Entergy’s payout ratio is 59.26%.

Analysts Set New Price Targets

A number of research firms have commented on ETR. Scotiabank set a $105.00 price objective on shares of Entergy and gave the company an “outperform” rating in a research note on Friday, October 3rd. Jefferies Financial Group began coverage on shares of Entergy in a research note on Thursday, September 4th. They set a “buy” rating and a $109.00 price objective on the stock. Morgan Stanley set a $93.00 target price on shares of Entergy and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Entergy in a report on Wednesday, October 8th. Finally, Bank of America increased their target price on shares of Entergy from $88.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.37.

Entergy Profile

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.