Mirae Asset Global Investments Co. Ltd. Lowers Stock Position in Entergy Co. (NYSE:ETR)

Posted by Defense World Staff on May 25th, 2023

Mirae Asset Global Investments Co. Ltd. reduced its stake in Entergy Co. (NYSE:ETR – Get Rating) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,482 shares of the utilities provider’s stock after selling 399 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Entergy were worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC raised its stake in Entergy by 75.2% in the fourth quarter. Lindbrook Capital LLC now owns 233 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Fairfield Bush & CO. purchased a new position in shares of Entergy during the first quarter worth approximately $29,000. Capital Directions Investment Advisors LLC purchased a new position in shares of Entergy during the fourth quarter worth approximately $33,000. Affiance Financial LLC purchased a new position in shares of Entergy during the fourth quarter worth approximately $33,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of Entergy during the fourth quarter worth approximately $43,000. 89.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Entergy

In other news, EVP Marcus V. Brown sold 12,500 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $106.10, for a total value of $1,326,250.00. Following the transaction, the executive vice president now owns 9,129 shares in the company, valued at approximately $968,586.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Entergy news, insider Deanna D. Rodriguez sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $103.96, for a total transaction of $31,188.00. Following the sale, the insider now owns 3,269 shares in the company, valued at approximately $339,845.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marcus V. Brown sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $106.10, for a total transaction of $1,326,250.00. Following the sale, the executive vice president now owns 9,129 shares in the company, valued at approximately $968,586.90. The disclosure for this sale can be found here. Insiders have sold 16,903 shares of company stock worth $1,801,305 in the last quarter. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ETR. Citigroup decreased their price target on shares of Entergy from $131.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 12th. Guggenheim decreased their price target on shares of Entergy from $128.00 to $124.00 in a research note on Monday, April 24th. Morgan Stanley lifted their price target on shares of Entergy from $97.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 20th. Bank of America decreased their target price on shares of Entergy from $119.00 to $107.00 in a research note on Sunday. Finally, TheStreet raised shares of Entergy from a “c+” rating to a “b-” rating in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $119.00.

Entergy Stock Performance

NYSE:ETR opened at $98.97 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.90 and a debt-to-equity ratio of 1.87. The stock has a market cap of $20.93 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.64 and a beta of 0.65. The firm’s fifty day simple moving average is $106.23 and its 200 day simple moving average is $108.40. Entergy Co. has a twelve month low of $94.94 and a twelve month high of $122.46.

Entergy (NYSE:ETR – Get Rating) last posted its earnings results on Wednesday, April 26th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.20). The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.80 billion. Entergy had a net margin of 8.17% and a return on equity of 10.34%. During the same quarter in the prior year, the company posted $1.32 EPS. As a group, research analysts predict that Entergy Co. will post 6.67 EPS for the current year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 4th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Wednesday, May 3rd. Entergy’s dividend payout ratio (DPR) is presently 77.82%.

Entergy Profile

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Entergy Corp. is a holding company, which engages in electric power generation and distribution. It operates through the following segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution, and sale of electric power and the operations of a natural gas distribution business.