Conning Inc. raised its position in Entergy Corp. (NYSE:ETR) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 6,313 shares of the company’s stock after buying an additional 210 shares during the period. Conning Inc.’s holdings in Entergy Corp. were worth $514,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of ETR. Iowa State Bank purchased a new position in shares of Entergy Corp. during the second quarter worth approximately $103,000. Nikko Asset Management Americas Inc. purchased a new position in shares of Entergy Corp. during the first quarter worth approximately $111,000. Washington Trust Bank increased its position in shares of Entergy Corp. by 11.5% in the second quarter. Washington Trust Bank now owns 1,936 shares of the company’s stock worth $157,000 after buying an additional 199 shares during the last quarter. Juncture Wealth Strategies LLC increased its position in shares of Entergy Corp. by 26.9% in the second quarter. Juncture Wealth Strategies LLC now owns 3,300 shares of the company’s stock worth $268,000 after buying an additional 700 shares during the last quarter. Finally, MIG Capital LLC increased its position in shares of Entergy Corp. by 4.1% in the first quarter. MIG Capital LLC now owns 3,434 shares of the company’s stock worth $272,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 85.22% of the company’s stock.
Shares of Entergy Corp. (NYSE:ETR) traded down 0.78% during midday trading on Friday, reaching $76.73. 1,753,507 shares of the company were exchanged. Entergy Corp. has a 52-week low of $64.11 and a 52-week high of $82.09. The firm’s 50 day moving average is $78.78 and its 200-day moving average is $78.18. The company has a market capitalization of $13.73 billion, a PE ratio of 79.27 and a beta of 0.32.
Entergy Corp. (NYSE:ETR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $2.06. Entergy Corp. had a net margin of 1.78% and a return on equity of 15.34%. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, equities analysts forecast that Entergy Corp. will post $6.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 11th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date was Tuesday, August 9th. Entergy Corp.’s dividend payout ratio is presently 354.17%.
A number of equities analysts have commented on the stock. Guggenheim upgraded shares of Entergy Corp. from a “neutral” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Monday, August 22nd. Deutsche Bank AG cut their price objective on shares of Entergy Corp. from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, August 3rd. Citigroup Inc. upped their price objective on shares of Entergy Corp. from $72.00 to $83.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. Bank of America Corp. restated a “hold” rating on shares of Entergy Corp. in a research report on Friday, June 10th. Finally, Morgan Stanley restated a “hold” rating on shares of Entergy Corp. in a research report on Friday, June 10th. Ten research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Entergy Corp. currently has an average rating of “Hold” and a consensus price target of $80.05.
In other news, insider Haley Fisackerly sold 1,250 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $77.60, for a total transaction of $97,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles L. Rice, Jr. sold 760 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $79.36, for a total transaction of $60,313.60. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.
Entergy Corp. Company Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. It operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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