Private Advisor Group LLC purchased a new position in shares of Entergy Co. (NYSE:ETR – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,062 shares of the utilities provider’s stock, valued at approximately $330,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in ETR. Federated Hermes Inc. increased its holdings in shares of Entergy by 25,465.1% during the 1st quarter. Federated Hermes Inc. now owns 2,398,774 shares of the utilities provider’s stock worth $258,444,000 after buying an additional 2,389,391 shares during the last quarter. State Street Corp increased its holdings in Entergy by 8.1% in the 1st quarter. State Street Corp now owns 12,122,596 shares of the utilities provider’s stock valued at $1,415,313,000 after purchasing an additional 908,932 shares during the last quarter. Millennium Management LLC increased its holdings in Entergy by 86.0% in the 4th quarter. Millennium Management LLC now owns 1,633,335 shares of the utilities provider’s stock valued at $183,750,000 after purchasing an additional 754,971 shares during the last quarter. Vanguard Group Inc. increased its holdings in Entergy by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 23,663,740 shares of the utilities provider’s stock valued at $2,762,741,000 after purchasing an additional 650,775 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Entergy by 23.5% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,390,118 shares of the utilities provider’s stock valued at $365,251,000 after purchasing an additional 645,598 shares during the last quarter. Institutional investors and hedge funds own 86.52% of the company’s stock.
Entergy Trading Down 1.0 %
Shares of ETR opened at $94.34 on Tuesday. Entergy Co. has a twelve month low of $93.52 and a twelve month high of $122.11. The firm has a market capitalization of $19.95 billion, a P/E ratio of 14.38, a PEG ratio of 2.50 and a beta of 0.65. The company has a current ratio of 0.80, a quick ratio of 0.54 and a debt-to-equity ratio of 1.84. The firm’s 50-day moving average is $98.18 and its two-hundred day moving average is $102.15.
Entergy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Thursday, August 10th. Entergy’s payout ratio is 65.24%.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Entergy from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. Guggenheim dropped their target price on shares of Entergy from $124.00 to $110.00 in a report on Friday, July 7th. Morgan Stanley dropped their price target on shares of Entergy from $102.00 to $94.00 and set an “underweight” rating for the company in a research note on Wednesday, August 23rd. Barclays started coverage on shares of Entergy in a research note on Wednesday, August 23rd. They issued an “equal weight” rating and a $98.00 price target for the company. Finally, Bank of America dropped their price target on shares of Entergy from $119.00 to $107.00 in a research note on Sunday, May 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Entergy presently has a consensus rating of “Hold” and a consensus price target of $114.42.
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.
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