Assenagon Asset Management S.A. Acquires 46,000 Shares of Entergy Corporation $ETR

Assenagon Asset Management S.A. boosted its holdings in Entergy Corporation (NYSE:ETR) by 1,270.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,622 shares of the utilities provider’s stock after buying an additional 46,000 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Entergy were worth $4,624,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ETR. Mattson Financial Services LLC lifted its position in Entergy by 100.0% during the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 150 shares during the period. Atwood & Palmer Inc. grew its position in Entergy by 135.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 190 shares during the period. Capital A Wealth Management LLC raised its stake in Entergy by 5,466.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider’s stock valued at $28,000 after buying an additional 328 shares during the last quarter. GoalVest Advisory LLC lifted its holdings in shares of Entergy by 5,733.3% during the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after buying an additional 344 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Entergy during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In related news, insider Anastasia Minor sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the transaction, the insider owned 10,122 shares in the company, valued at approximately $975,659.58. This represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $495,624.00. Following the completion of the sale, the insider owned 7,899 shares in the company, valued at approximately $762,253.50. This represents a 39.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,179 shares of company stock worth $981,707 in the last three months. 0.47% of the stock is owned by company insiders.

Entergy Stock Performance

ETR opened at $91.50 on Monday. The company has a 50 day simple moving average of $95.11 and a two-hundred day simple moving average of $90.10. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.48. The firm has a market cap of $40.86 billion, a P/E ratio of 22.59, a PEG ratio of 2.30 and a beta of 0.62. Entergy Corporation has a 1-year low of $73.70 and a 1-year high of $98.58.

Entergy (NYSE:ETR) last released its earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. The company had revenue of $2.37 billion for the quarter. Equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were issued a $0.64 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.56 dividend on an annualized basis and a yield of 2.8%. This is a boost from Entergy’s previous quarterly dividend of $0.60. Entergy’s payout ratio is presently 63.21%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ETR shares. JPMorgan Chase & Co. cut their price objective on Entergy from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, December 11th. Mizuho raised their target price on Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Jefferies Financial Group started coverage on shares of Entergy in a research report on Thursday, September 4th. They set a “buy” rating and a $109.00 price target for the company. Wall Street Zen cut shares of Entergy from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Royal Bank Of Canada upgraded shares of Entergy to a “moderate buy” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Entergy currently has an average rating of “Moderate Buy” and a consensus target price of $103.09.

Entergy Profile

Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.