Boston Partners Purchases 3,710,814 Shares of Entergy Corporation $ETR

Boston Partners increased its stake in shares of Entergy Corporation (NYSE:ETR) by 114.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,940,628 shares of the utilities provider’s stock after acquiring an additional 3,710,814 shares during the period. Boston Partners owned about 1.55% of Entergy worth $578,531,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Teilinger Capital Ltd. bought a new stake in shares of Entergy in the second quarter valued at about $12,468,000. Laurel Wealth Advisors LLC grew its position in Entergy by 8,212.1% in the second quarter. Laurel Wealth Advisors LLC now owns 55,691 shares of the utilities provider’s stock valued at $4,629,000 after acquiring an additional 55,021 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Entergy by 104.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 41,350 shares of the utilities provider’s stock worth $3,437,000 after acquiring an additional 21,170 shares in the last quarter. Quadcap Wealth Management LLC increased its position in Entergy by 15.5% during the 2nd quarter. Quadcap Wealth Management LLC now owns 50,909 shares of the utilities provider’s stock worth $4,232,000 after purchasing an additional 6,820 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Entergy in the 2nd quarter valued at $1,284,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Entergy

In related news, Director Ralph Lewis Ropp purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average cost of $96.69 per share, for a total transaction of $96,690.00. Following the completion of the transaction, the director directly owned 1,050 shares in the company, valued at approximately $101,524.50. This represents a 2,000.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Haley Fisackerly sold 5,136 shares of Entergy stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total value of $495,624.00. Following the sale, the insider directly owned 7,899 shares of the company’s stock, valued at $762,253.50. This represents a 39.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 10,179 shares of company stock worth $981,707. 0.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ETR shares. BTIG Research upgraded Entergy to a “strong-buy” rating in a report on Wednesday, October 22nd. Evercore ISI raised their target price on Entergy from $98.00 to $101.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. 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. Barclays set a $100.00 price target on Entergy and gave the stock an “overweight” rating in a research note on Monday, October 6th. Finally, Morgan Stanley set a $91.00 price objective on Entergy in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.47.

Entergy Trading Down 0.2%

NYSE:ETR opened at $95.26 on Wednesday. The firm has a 50-day moving average price of $94.71 and a two-hundred day moving average price of $88.65. The firm has a market cap of $42.54 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.40 and a beta of 0.63. Entergy Corporation has a 52 week low of $73.15 and a 52 week high of $98.58. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71.

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

Entergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $0.60. Entergy’s dividend payout ratio is presently 63.21%.

About Entergy

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.