Global X Management Co. LLC Acquires 10,046 Shares of Entergy Corp. (ETR)
Global X Management Co. LLC raised its position in Entergy Corp. (NYSE:ETR) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,039 shares of the company’s stock after buying an additional 10,046 shares during the period. Global X Management Co. LLC owned approximately 0.05% of Entergy Corp. worth $7,062,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Entergy Corp. by 8.2% in the second quarter. Vanguard Group Inc. now owns 15,896,131 shares of the company’s stock worth $1,293,150,000 after buying an additional 1,198,356 shares in the last quarter. BlackRock Fund Advisors increased its stake in Entergy Corp. by 5.9% in the second quarter. BlackRock Fund Advisors now owns 6,851,404 shares of the company’s stock worth $557,362,000 after buying an additional 380,791 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Entergy Corp. by 19.8% in the second quarter. Ameriprise Financial Inc. now owns 4,101,004 shares of the company’s stock worth $333,617,000 after buying an additional 676,851 shares in the last quarter. Allianz Asset Management AG increased its stake in Entergy Corp. by 246.9% in the second quarter. Allianz Asset Management AG now owns 3,548,491 shares of the company’s stock worth $288,669,000 after buying an additional 2,525,637 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Entergy Corp. by 97.6% in the second quarter. AQR Capital Management LLC now owns 2,663,030 shares of the company’s stock worth $216,637,000 after buying an additional 1,315,413 shares in the last quarter. 85.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Entergy Corp. (NYSE:ETR) traded up 1.06% during trading on Tuesday, hitting $71.33. 1,140,484 shares of the stock traded hands. Entergy Corp. has a 52-week low of $64.18 and a 52-week high of $82.09. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 9.96 and a beta of 0.40. The stock has a 50 day moving average of $71.40 and a 200 day moving average of $76.72.
Entergy Corp. (NYSE:ETR) last posted its earnings results on Tuesday, October 25th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the 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 period last year, the firm earned $1.90 EPS. Analysts expect that Entergy Corp. will post $6.90 EPS 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 paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 4.93%. The ex-dividend date is Tuesday, November 8th. This is a positive change from Entergy Corp.’s previous quarterly dividend of $0.85. Entergy Corp.’s payout ratio is 48.60%.
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Several brokerages recently commented on ETR. Bank of America Corp. downgraded shares of Entergy Corp. from a “neutral” rating to an “underperform” rating and set a $64.00 price objective on the stock. in a research report on Tuesday, November 22nd. Guggenheim raised shares of Entergy Corp. from a “neutral” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Monday, August 22nd. Goldman Sachs Group Inc. reissued a “conviction-buy” rating on shares of Entergy Corp. in a research report on Monday, October 17th. Deutsche Bank AG cut their price objective on shares of Entergy Corp. from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research raised shares of Entergy Corp. from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Friday, October 14th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Entergy Corp. currently has an average rating of “Hold” and an average price target of $77.80.
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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