Allspring Global Investments Holdings LLC Has $10.88 Million Position in Entergy Co. (NYSE:ETR)

Allspring Global Investments Holdings LLC lessened its stake in shares of Entergy Co. (NYSE:ETR) by 48.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,542 shares of the utilities provider’s stock after selling 99,798 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Entergy were worth $10,882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairfield Bush & CO. bought a new position in shares of Entergy during the 1st quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its position in Entergy by 157.1% in the 3rd 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. Fortis Group Advisors LLC bought a new position in Entergy in the 3rd quarter valued at about $32,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Entergy in the 3rd quarter valued at about $32,000. Finally, Harbour Investments Inc. lifted its position in Entergy by 17,550.0% in the 3rd quarter. Harbour Investments Inc. now owns 353 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 351 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Transactions at Entergy

In other news, insider Deanna D. Rodriguez sold 1,500 shares of the firm’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 transaction of $151,845.00. Following the completion of the sale, the insider now owns 3,442 shares in the company, valued at approximately $348,433.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Deanna D. Rodriguez sold 1,500 shares of the firm’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 transaction of $151,845.00. Following the completion of the sale, the insider now owns 3,442 shares in the company, valued at approximately $348,433.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the sale, the executive vice president now owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $1,226,685 in the last quarter. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ETR. BMO Capital Markets raised their price target on shares of Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $117.00 price target on shares of Entergy in a research report on Monday, February 26th. Finally, Barclays dropped their price target on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.78.

Entergy Price Performance

Entergy stock opened at $100.58 on Wednesday. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $109.85. The company’s 50 day moving average price is $102.23 and its two-hundred day moving average price is $99.96. The company has a quick ratio of 0.32, a current ratio of 0.57 and a debt-to-equity ratio of 1.57. The stock has a market cap of $21.45 billion, a P/E ratio of 9.07, a P/E/G ratio of 2.03 and a beta of 0.71.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, February 22nd. The utilities provider reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Entergy had a net margin of 19.41% and a return on equity of 10.54%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the firm earned $0.51 EPS. On average, equities analysts predict that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.49%. Entergy’s payout ratio is currently 40.76%.

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.