TD Asset Management Inc. lessened its stake in Entergy Co. (NYSE:ETR) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 301,866 shares of the utilities provider’s stock after selling 5,339 shares during the quarter. TD Asset Management Inc. owned approximately 0.16% of Entergy worth $31,072,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ETR. Janus Henderson Group PLC boosted its holdings in shares of Entergy by 112.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,485,881 shares of the utilities provider’s stock valued at $142,095,000 after buying an additional 786,788 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Entergy by 89.4% in the 1st quarter. Jennison Associates LLC now owns 1,367,253 shares of the utilities provider’s stock valued at $130,750,000 after buying an additional 645,300 shares during the last quarter. FMR LLC boosted its holdings in shares of Entergy by 13.5% in the 1st quarter. FMR LLC now owns 3,784,148 shares of the utilities provider’s stock valued at $361,878,000 after buying an additional 448,737 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Entergy by 191.9% in the 2nd quarter. First Trust Advisors LP now owns 661,070 shares of the utilities provider’s stock valued at $68,044,000 after buying an additional 434,583 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Entergy by 36.2% in the 1st quarter. Pictet Asset Management Ltd. now owns 1,601,350 shares of the utilities provider’s stock valued at $153,137,000 after buying an additional 425,288 shares during the last quarter. 87.82% of the stock is owned by institutional investors.
Entergy stock traded up $0.28 during mid-day trading on Friday, hitting $109.28. 10,074 shares of the company’s stock traded hands, compared to its average volume of 1,347,603. The firm has a 50 day simple moving average of $105.10 and a two-hundred day simple moving average of $97.86. Entergy Co. has a fifty-two week low of $78.99 and a fifty-two week high of $109.40. The stock has a market cap of $21.44 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 2.92 and a beta of 0.34. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.73 and a quick ratio of 0.52.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 8th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.33%. The ex-dividend date is Wednesday, August 7th. Entergy’s dividend payout ratio is 49.79%.
Several equities research analysts have recently commented on the company. Macquarie set a $100.00 price objective on Entergy and gave the company a “buy” rating in a report on Thursday, May 2nd. ValuEngine raised Entergy from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research downgraded Entergy from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. UBS Group set a $115.00 price target on Entergy and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Morgan Stanley raised their price target on Entergy from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $99.22.
In other Entergy news, insider Phillip R. May, Jr. sold 8,600 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $98.00, for a total transaction of $842,800.00. Following the transaction, the insider now owns 16,471 shares in the company, valued at approximately $1,614,158. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP A. Christopher Bakken III sold 12,533 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $105.00, for a total value of $1,315,965.00. The disclosure for this sale can be found here. Insiders have sold a total of 102,900 shares of company stock valued at $10,439,829 in the last ninety days. Insiders own 0.27% of the company’s stock.
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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