Pictet Asset Management Ltd. decreased its position in shares of Entergy Corporation (NYSE:ETR) by 5.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 808,945 shares of the utilities provider’s stock after selling 50,991 shares during the period. Pictet Asset Management Ltd. owned 0.45% of Entergy Corporation worth $63,955,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Entergy Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock worth $1,513,680,000 after buying an additional 470,255 shares during the period. BlackRock Inc. boosted its stake in Entergy Corporation by 3,574.9% in the first quarter. BlackRock Inc. now owns 16,089,684 shares of the utilities provider’s stock worth $1,222,173,000 after buying an additional 15,651,863 shares during the period. State Street Corp boosted its stake in Entergy Corporation by 1.2% in the first quarter. State Street Corp now owns 9,721,185 shares of the utilities provider’s stock worth $738,419,000 after buying an additional 115,341 shares during the period. Ameriprise Financial Inc. boosted its stake in Entergy Corporation by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 4,461,044 shares of the utilities provider’s stock worth $338,859,000 after buying an additional 305,111 shares during the period. Finally, FMR LLC boosted its stake in Entergy Corporation by 6.9% in the first quarter. FMR LLC now owns 3,488,914 shares of the utilities provider’s stock worth $265,018,000 after buying an additional 225,184 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.
Entergy Corporation (NYSE:ETR) traded up 0.37% on Friday, reaching $77.84. 875,719 shares of the company’s stock were exchanged. Entergy Corporation has a 12-month low of $66.71 and a 12-month high of $81.83. The company’s market cap is $13.97 billion. The firm has a 50 day moving average of $76.40 and a 200-day moving average of $76.13.
Entergy Corporation (NYSE:ETR) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $1.20 by $1.91. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.44 billion. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. During the same period in the prior year, the business posted $3.16 earnings per share. Equities analysts expect that Entergy Corporation will post $6.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be given a $0.87 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $3.48 annualized dividend and a dividend yield of 4.47%. Entergy Corporation’s dividend payout ratio is presently -69.74%.
ETR has been the topic of a number of analyst reports. ValuEngine upgraded Entergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Zacks Investment Research cut Entergy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Mizuho dropped their target price on Entergy Corporation from $79.00 to $76.00 and set a “neutral” rating on the stock in a research report on Friday, April 28th. Jefferies Group LLC restated a “hold” rating and set a $78.00 target price on shares of Entergy Corporation in a research report on Thursday, July 6th. Finally, Morgan Stanley lifted their price objective on Entergy Corporation from $77.00 to $78.00 and gave the stock an “underweight” rating in a report on Monday, May 8th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Entergy Corporation currently has an average rating of “Hold” and a consensus price target of $78.77.
In other news, insider Sallie T. Rainer sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $77.78, for a total value of $77,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alexis M. Herman sold 995 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.38, for a total transaction of $75,998.10. The disclosure for this sale can be found here. Insiders sold 2,495 shares of company stock worth $192,363 over the last quarter. Company insiders own 0.24% of the company’s stock.
About Entergy Corporation
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company 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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