Adage Capital Partners GP L.L.C. Decreases Stake in Entergy Corp. (ETR)
Adage Capital Partners GP L.L.C. reduced its stake in Entergy Corp. (NYSE:ETR) by 10.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,022,643 shares of the company’s stock after selling 123,120 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.57% of Entergy Corp. worth $83,192,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the company. Iowa State Bank bought a new stake in Entergy Corp. during the second quarter valued at about $103,000. Washington Trust Bank increased its stake in Entergy Corp. by 11.5% in the second quarter. Washington Trust Bank now owns 1,936 shares of the company’s stock valued at $157,000 after buying an additional 199 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Entergy Corp. by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,928 shares of the company’s stock valued at $157,000 after buying an additional 797 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in Entergy Corp. by 75.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,345 shares of the company’s stock valued at $191,000 after buying an additional 1,009 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in Entergy Corp. by 20.0% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,400 shares of the company’s stock valued at $195,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 85.41% of the company’s stock.
Shares of Entergy Corp. (NYSE:ETR) traded down 0.68% during midday trading on Friday, reaching $67.41. The company’s stock had a trading volume of 1,134,160 shares. Entergy Corp. has a 12 month low of $64.18 and a 12 month high of $82.09. The company has a 50-day moving average price of $73.84 and a 200-day moving average price of $77.22. The firm has a market cap of $12.07 billion, a price-to-earnings ratio of 9.41 and a beta of 0.40.
Entergy Corp. (NYSE:ETR) last issued its earnings results on Tuesday, October 25th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.35. Entergy Corp. had a return on equity of 15.70% and a net margin of 12.20%. During the same quarter in the previous year, the company earned $1.90 EPS. Equities analysts expect that Entergy Corp. will post $6.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 10th will be issued a dividend of $0.87 per share. The ex-dividend date is Tuesday, November 8th. This represents a $3.48 dividend on an annualized basis and a yield of 5.16%. This is a boost from Entergy Corp.’s previous quarterly dividend of $0.85. Entergy Corp.’s dividend payout ratio (DPR) is 48.60%.
Several research firms have issued reports on ETR. Zacks Investment Research downgraded Entergy Corp. from a “hold” rating to a “sell” rating in a report on Thursday, October 27th. Morgan Stanley downgraded Entergy Corp. from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $78.00 to $68.00 in a report on Thursday, October 27th. Deutsche Bank AG cut their price objective on Entergy Corp. from $82.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, October 26th. Jefferies Group cut their price objective on Entergy Corp. from $85.50 to $74.00 and set a “hold” rating on the stock in a report on Wednesday, October 26th. Finally, Wolfe Research downgraded Entergy Corp. from a “market perform” rating to an “underperform” rating in a report on Monday, October 24th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Entergy Corp. currently has a consensus rating of “Hold” and an average target price of $79.20.
In other Entergy Corp. news, insider Haley Fisackerly sold 1,250 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $77.60, for a total transaction of $97,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Charles L. Rice, Jr. sold 760 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $79.36, for a total value of $60,313.60. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
About Entergy Corp.
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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