E&G Advisors LP lessened its stake in shares of Entergy Co. (NYSE:ETR) by 18.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the utilities provider’s stock after selling 700 shares during the quarter. E&G Advisors LP’s holdings in Entergy were worth $287,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Entergy by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 21,656,660 shares of the utilities provider’s stock worth $1,757,006,000 after purchasing an additional 218,066 shares during the last quarter. Vanguard Group Inc boosted its holdings in Entergy by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 21,656,660 shares of the utilities provider’s stock worth $1,757,006,000 after buying an additional 218,066 shares during the period. BlackRock Inc. boosted its holdings in Entergy by 2.7% in the 4th quarter. BlackRock Inc. now owns 16,276,978 shares of the utilities provider’s stock worth $1,400,960,000 after buying an additional 421,339 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Entergy by 8,450.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,844,755 shares of the utilities provider’s stock worth $68,000 after buying an additional 5,776,402 shares during the period. Finally, FMR LLC boosted its holdings in Entergy by 30.2% in the 4th quarter. FMR LLC now owns 3,335,411 shares of the utilities provider’s stock worth $287,079,000 after buying an additional 773,770 shares during the period. 90.50% of the stock is currently owned by institutional investors.
In other news, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $92.59, for a total transaction of $138,885.00. Following the sale, the insider now owns 2,434 shares of the company’s stock, valued at approximately $225,364.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Paul D. Hinnenkamp sold 6,600 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $92.37, for a total transaction of $609,642.00. Following the sale, the chief operating officer now directly owns 38,848 shares in the company, valued at approximately $3,588,389.76. The disclosure for this sale can be found here. Insiders sold 54,104 shares of company stock worth $5,102,235 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.
Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.12). Entergy had a net margin of 9.04% and a return on equity of 15.17%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. Sell-side analysts anticipate that Entergy Co. will post 5.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 9th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Wednesday, May 8th. Entergy’s payout ratio is 49.79%.
Several research firms recently commented on ETR. ValuEngine downgraded shares of Entergy from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research raised shares of Entergy from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a report on Wednesday, April 24th. Morgan Stanley raised shares of Entergy from an “equal weight” rating to an “overweight” rating in a report on Thursday, April 18th. Wells Fargo & Co raised their price target on shares of Entergy from $99.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, February 21st. Finally, Macquarie raised shares of Entergy from a “neutral” rating to an “outperform” rating in a report on Monday, March 11th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Entergy currently has a consensus rating of “Buy” and an average target price of $92.33.
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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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