Martingale Asset Management L P trimmed its position in shares of Entergy Co. (NYSE:ETR) by 6.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 277,560 shares of the utilities provider’s stock after selling 19,319 shares during the period. Martingale Asset Management L P’s holdings in Entergy were worth $26,544,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of ETR. Oregon Public Employees Retirement Fund boosted its position in Entergy by 8,450.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,844,755 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 5,776,402 shares during the period. Norges Bank bought a new position in Entergy during the fourth quarter worth $144,091,000. Zimmer Partners LP boosted its position in Entergy by 191.9% during the fourth quarter. Zimmer Partners LP now owns 1,502,190 shares of the utilities provider’s stock worth $129,293,000 after purchasing an additional 987,500 shares during the period. Confluence Investment Management LLC bought a new position in Entergy during the first quarter worth $90,313,000. Finally, Janus Henderson Group PLC boosted its position in Entergy by 112.5% during the first quarter. Janus Henderson Group PLC now owns 1,485,881 shares of the utilities provider’s stock worth $142,095,000 after purchasing an additional 786,788 shares during the period. Institutional investors and hedge funds own 88.53% of the company’s stock.
In other news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $92.59, for a total value of $138,885.00. Following the completion of the sale, the insider now owns 2,434 shares of the company’s stock, valued at $225,364.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sallie T. Rainer sold 2,600 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $98.00, for a total transaction of $254,800.00. Following the completion of the sale, the insider now directly owns 16,471 shares of the company’s stock, valued at approximately $1,614,158. The disclosure for this sale can be found here. In the last three months, insiders sold 145,108 shares of company stock valued at $13,999,631. 0.27% of the stock is currently owned by company insiders.
Shares of Entergy stock opened at $99.35 on Friday. The stock has a market capitalization of $18.67 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.64 and a beta of 0.40. Entergy Co. has a 52-week low of $75.83 and a 52-week high of $98.56. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.70 and a quick ratio of 0.52.
Entergy (NYSE:ETR) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.12). The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.67 billion. Entergy had a net margin of 9.04% and a return on equity of 15.17%. During the same period in the previous year, the firm posted $0.83 EPS. As a group, analysts anticipate that Entergy Co. will post 5.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 9th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.66%. Entergy’s payout ratio is presently 49.79%.
ETR has been the subject of a number of research analyst reports. Macquarie set a $100.00 price objective on shares of Entergy and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Zacks Investment Research cut shares of Entergy from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Wells Fargo & Co lifted their price objective on shares of Entergy from $99.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, February 21st. Morgan Stanley lifted their price objective on shares of Entergy from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 12th. Finally, ValuEngine raised shares of Entergy from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $93.50.
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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