Advisors Asset Management Inc. Lowers Stake in Entergy Corporation $ETR

Advisors Asset Management Inc. lowered its holdings in shares of Entergy Corporation (NYSE:ETR) by 11.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,759 shares of the utilities provider’s stock after selling 10,887 shares during the quarter. Advisors Asset Management Inc.’s holdings in Entergy were worth $7,619,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Stratos Wealth Partners LTD. boosted its stake in shares of Entergy by 9.4% in the third quarter. Stratos Wealth Partners LTD. now owns 15,439 shares of the utilities provider’s stock worth $1,439,000 after acquiring an additional 1,329 shares during the last quarter. Reaves W H & Co. Inc. increased its stake in Entergy by 15.7% during the third quarter. Reaves W H & Co. Inc. now owns 2,288,367 shares of the utilities provider’s stock worth $213,253,000 after acquiring an additional 310,589 shares during the last quarter. Navellier & Associates Inc. acquired a new stake in shares of Entergy during the 3rd quarter worth about $342,000. Johnson Investment Counsel Inc. raised its stake in shares of Entergy by 7.9% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 3,541 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 260 shares during the period. Finally, Prospera Financial Services Inc raised its position in Entergy by 25.1% in the third quarter. Prospera Financial Services Inc now owns 13,774 shares of the utilities provider’s stock valued at $1,284,000 after purchasing an additional 2,760 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Up 0.5%

ETR opened at $100.21 on Thursday. The business’s fifty day simple moving average is $94.33 and its 200 day simple moving average is $93.17. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 1.62. The firm has a market cap of $44.75 billion, a P/E ratio of 24.74, a PEG ratio of 2.22 and a beta of 0.65. Entergy Corporation has a 52 week low of $75.57 and a 52 week high of $101.23.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 9th will be given a $0.64 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.6%. Entergy’s payout ratio is currently 63.21%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Morgan Stanley reiterated an “underperform” rating on shares of Entergy in a research note on Wednesday, January 21st. Siebert Williams Shank assumed coverage on Entergy in a research report on Tuesday, January 20th. They set a “buy” rating and a $109.00 price objective for the company. JPMorgan Chase & Co. cut their price target on shares of Entergy from $113.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, December 11th. Argus set a $100.00 price objective on Entergy and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, Evercore raised their price target on Entergy from $98.00 to $101.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.83.

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.