Synovus Financial Corp acquired a new stake in Entergy Co. (NYSE:ETR – Get Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,974 shares of the utilities provider’s stock, valued at approximately $221,000.
Other large investors have also bought and sold shares of the company. JFS Wealth Advisors LLC raised its holdings in Entergy by 82.9% in the second quarter. JFS Wealth Advisors LLC now owns 236 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 107 shares during the period. Field & Main Bank acquired a new stake in Entergy in the second quarter worth $28,000. Fairfield Bush & CO. acquired a new stake in Entergy in the first quarter worth $29,000. GW&K Investment Management LLC acquired a new stake in Entergy in the first quarter worth $32,000. Finally, Truvestments Capital LLC acquired a new stake in Entergy in the second quarter worth $41,000. 90.53% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ETR has been the topic of several analyst reports. Credit Suisse Group increased their target price on shares of Entergy from $108.00 to $117.00 and gave the stock an “outperform” rating in a report on Friday, November 4th. BMO Capital Markets increased their target price on shares of Entergy from $111.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. Guggenheim lowered their price objective on shares of Entergy from $129.00 to $117.00 in a research report on Monday, October 24th. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research report on Friday, November 11th. Finally, UBS Group downgraded shares of Entergy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $134.00 to $128.00 in a research report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Entergy has a consensus rating of “Hold” and an average price target of $122.00.
Entergy Stock Up 1.0 %
Entergy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be given a $1.07 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $4.28 dividend on an annualized basis and a yield of 3.79%. This is an increase from Entergy’s previous quarterly dividend of $1.01. Entergy’s dividend payout ratio (DPR) is 69.48%.
Entergy Company Profile
Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.
- Get a free copy of the StockNews.com research report on Entergy (ETR)
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