Forsta AP Fonden raised its stake in Entergy Co. (NYSE:ETR) by 93.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,800 shares of the utilities provider’s stock after acquiring an additional 37,600 shares during the quarter. Forsta AP Fonden’s holdings in Entergy were worth $7,726,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. MUFG Americas Holdings Corp boosted its position in shares of Entergy by 102.9% in the third quarter. MUFG Americas Holdings Corp now owns 280 shares of the utilities provider’s stock worth $28,000 after buying an additional 142 shares during the period. Assetmark Inc. raised its stake in Entergy by 66.7% during the second quarter. Assetmark Inc. now owns 300 shares of the utilities provider’s stock valued at $30,000 after buying an additional 120 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in Entergy during the second quarter valued at approximately $47,000. Allworth Financial LP raised its stake in Entergy by 24,400.0% during the third quarter. Allworth Financial LP now owns 490 shares of the utilities provider’s stock valued at $49,000 after buying an additional 488 shares in the last quarter. Finally, Motco raised its stake in Entergy by 37.5% during the third quarter. Motco now owns 550 shares of the utilities provider’s stock valued at $55,000 after buying an additional 150 shares in the last quarter. 89.00% of the stock is owned by institutional investors and hedge funds.
NYSE:ETR opened at $111.07 on Friday. Entergy Co. has a 1 year low of $85.78 and a 1 year high of $115.01. The firm has a 50 day moving average of $107.39 and a 200-day moving average of $106.33. The company has a current ratio of 0.64, a quick ratio of 0.46 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $22.32 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 17.47 and a beta of 0.63.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 1st. Stockholders of record on Monday, November 15th were issued a $1.01 dividend. This is a positive change from Entergy’s previous quarterly dividend of $0.95. The ex-dividend date was Friday, November 12th. This represents a $4.04 annualized dividend and a dividend yield of 3.64%. Entergy’s payout ratio is 65.27%.
In related news, insider Laura R. Landreaux sold 450 shares of the business’s stock in a transaction on Friday, November 19th. The shares were sold at an average price of $105.75, for a total value of $47,587.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by insiders.
ETR has been the subject of several recent research reports. Vertical Research lowered Entergy from a “buy” rating to a “hold” rating and set a $117.00 target price for the company. in a report on Monday, January 10th. BMO Capital Markets decreased their price target on Entergy from $121.00 to $117.00 and set an “outperform” rating for the company in a research note on Monday, September 27th. Mizuho increased their price target on Entergy from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, October 21st. Finally, Morgan Stanley downgraded Entergy from an “equal weight” rating to an “underweight” rating and set a $106.00 price objective for the company. in a research report on Thursday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Entergy has an average rating of “Hold” and an average price target of $115.33.
Entergy Company Profile
Entergy Corp. is a holding company, which engages in electric power generation and distribution. It operates through the following segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution, and sale of electric power; and operations of a natural gas distribution business.
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