Entergy Corporation (ETR) Position Decreased by Mitsubishi UFJ Trust & Banking Corp
Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Entergy Corporation (NYSE:ETR) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 368,374 shares of the utilities provider’s stock after selling 3,996 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.21% of Entergy Corporation worth $28,280,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its position in shares of Entergy Corporation by 46.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock valued at $100,000 after buying an additional 410 shares during the period. V Wealth Management LLC acquired a new position in shares of Entergy Corporation during the second quarter valued at about $106,000. Advisory Services Network LLC acquired a new position in shares of Entergy Corporation during the first quarter valued at about $174,000. Parallel Advisors LLC raised its position in shares of Entergy Corporation by 291.6% in the first quarter. Parallel Advisors LLC now owns 2,377 shares of the utilities provider’s stock valued at $182,000 after buying an additional 1,770 shares during the period. Finally, Tiedemann Wealth Management LLC acquired a new position in shares of Entergy Corporation during the first quarter valued at about $203,000. Institutional investors and hedge funds own 84.06% of the company’s stock.
Entergy Corporation (NYSE:ETR) opened at 79.26 on Friday. Entergy Corporation has a 52 week low of $66.71 and a 52 week high of $81.83. The company has a 50-day moving average of $77.35 and a 200-day moving average of $76.69. The company’s market cap is $14.23 billion.
Entergy Corporation (NYSE:ETR) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $1.91. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the company posted $3.16 EPS. On average, equities research analysts predict that Entergy Corporation will post $6.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 10th were given a $0.87 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $3.48 annualized dividend and a yield of 4.39%. Entergy Corporation’s dividend payout ratio is presently -69.74%.
ETR has been the subject of several research analyst reports. Morgan Stanley lifted their price target on shares of Entergy Corporation from $79.00 to $82.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. BidaskClub raised shares of Entergy Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine downgraded shares of Entergy Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC reaffirmed a “hold” rating on shares of Entergy Corporation in a research note on Friday, August 11th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $78.00 price target on shares of Entergy Corporation in a research note on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Entergy Corporation presently has an average rating of “Hold” and a consensus price target of $78.17.
In other Entergy Corporation news, Director Alexis M. Herman sold 995 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.38, for a total value of $75,998.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Haley Fisackerly sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $77.17, for a total transaction of $38,585.00. The disclosure for this sale can be found here. Insiders sold a total of 3,495 shares of company stock valued at $271,313 in the last three months. 0.24% of the stock is currently owned by corporate insiders.
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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