Sumitomo Mitsui DS Asset Management Company Ltd lowered its position in Entergy Co. (NYSE:ETR – Get Rating) by 31.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,822 shares of the utilities provider's stock after selling 6,785 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Entergy were worth $1,670,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETR. Lake Street Financial LLC lifted its stake in shares of Entergy by 10.4% during the second quarter. Lake Street Financial LLC now owns 2,851 shares of the utilities provider's stock worth $321,000 after purchasing an additional 268 shares in the last quarter. Centennial Wealth Advisory LLC lifted its stake in shares of Entergy by 34.0% during the second quarter. Centennial Wealth Advisory LLC now owns 2,733 shares of the utilities provider's stock worth $308,000 after purchasing an additional 693 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Entergy during the second quarter worth about $307,000. My Legacy Advisors LLC lifted its stake in shares of Entergy by 26.4% during the second quarter. My Legacy Advisors LLC now owns 4,781 shares of the utilities provider's stock worth $530,000 after purchasing an additional 1,000 shares in the last quarter. Finally, TPG Financial Advisors LLC lifted its stake in shares of Entergy by 22.0% during the second quarter. TPG Financial Advisors LLC now owns 3,932 shares of the utilities provider's stock worth $443,000 after purchasing an additional 710 shares in the last quarter. Institutional investors and hedge funds own 90.53% of the company's stock.
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Shares of Entergy stock opened at $111.59 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.87 and a debt-to-equity ratio of 2.10. The firm has a market cap of $22.70 billion, a P/E ratio of 18.44, a P/E/G ratio of 2.63 and a beta of 0.57. Entergy Co. has a fifty-two week low of $98.50 and a fifty-two week high of $126.82. The business has a 50-day moving average price of $116.51 and a 200 day moving average price of $115.97.
Entergy (NYSE:ETR – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.36. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $2.89 billion. Entergy had a return on equity of 11.07% and a net margin of 9.92%. During the same period in the previous year, the company earned $1.34 earnings per share. On average, sell-side analysts forecast that Entergy Co. will post 6.38 earnings per share for the current fiscal year.Entergy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 11th were paid a $1.01 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $4.04 dividend on an annualized basis and a yield of 3.62%. Entergy's payout ratio is currently 66.78%.
Analyst Ratings Changes
A number of research analysts have commented on the company. Evercore ISI boosted their price objective on Entergy to $130.00 in a research note on Tuesday, August 9th. Mizuho dropped their target price on Entergy from $127.00 to $123.00 and set a "buy" rating on the stock in a research report on Wednesday, June 29th. Wells Fargo & Company lifted their target price on Entergy from $125.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, August 4th. Credit Suisse Group dropped their target price on Entergy from $136.00 to $114.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 21st. Finally, Morgan Stanley lifted their target price on Entergy from $106.00 to $115.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Entergy currently has a consensus rating of "Hold" and an average target price of $125.43.
Entergy Profile
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Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.
Further Reading
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