Chemical Bank Has $341,000 Holdings in Entergy Corporation (ETR)
Chemical Bank continued to hold its position in Entergy Corporation (NYSE:ETR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,448 shares of the utilities provider’s stock at the end of the second quarter. Chemical Bank’s holdings in Entergy Corporation were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Entergy Corporation by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock valued at $1,513,680,000 after buying an additional 470,255 shares during the last quarter. BlackRock Inc. grew its position in Entergy Corporation by 3,574.9% in the 1st quarter. BlackRock Inc. now owns 16,089,684 shares of the utilities provider’s stock valued at $1,222,173,000 after buying an additional 15,651,863 shares during the last quarter. State Street Corp grew its position in Entergy Corporation by 1.2% in the 1st quarter. State Street Corp now owns 9,721,185 shares of the utilities provider’s stock valued at $738,419,000 after buying an additional 115,341 shares during the last quarter. AJO LP grew its position in Entergy Corporation by 16.0% in the 2nd quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock valued at $270,119,000 after buying an additional 485,602 shares during the last quarter. Finally, FMR LLC grew its position in Entergy Corporation by 6.9% in the 1st quarter. FMR LLC now owns 3,488,914 shares of the utilities provider’s stock valued at $265,018,000 after buying an additional 225,184 shares during the last quarter. Hedge funds and other institutional investors own 84.07% of the company’s stock.
Shares of Entergy Corporation (ETR) opened at 78.87 on Friday. The stock’s market capitalization is $14.16 billion. The firm’s 50 day moving average is $78.23 and its 200 day moving average is $77.05. Entergy Corporation has a 12 month low of $66.71 and a 12 month high of $81.83.
Entergy Corporation (NYSE:ETR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $1.91. Entergy Corporation had a positive return on equity of 14.08% and a negative net margin of 7.98%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the business posted $3.16 earnings per share. On average, equities analysts predict that Entergy Corporation will post $6.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 10th were paid a $0.87 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $3.48 annualized dividend and a dividend yield of 4.41%. Entergy Corporation’s payout ratio is -69.74%.
ETR has been the topic of a number of analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $78.00 price objective on shares of Entergy Corporation in a research report on Friday, August 4th. BidaskClub upgraded shares of Entergy Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Morgan Stanley lifted their price objective on shares of Entergy Corporation from $79.00 to $82.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $78.00 price objective on shares of Entergy Corporation in a research report on Thursday, July 6th. Finally, Zacks Investment Research lowered shares of Entergy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $78.33.
TRADEMARK VIOLATION NOTICE: This report was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/09/16/chemical-bank-has-341000-holdings-in-entergy-corporation-etr.html.
In related news, insider Charles L. Rice, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $78.95, for a total transaction of $78,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexis M. Herman sold 995 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $76.38, for a total value of $75,998.10. The disclosure for this sale can be found here. In the last three months, insiders sold 3,495 shares of company stock valued at $271,313. Company insiders own 0.24% of the company’s stock.
Entergy Corporation Profile
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.
Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Corporation (NYSE:ETR).
Receive News & Stock Ratings for Entergy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entergy Corporation and related stocks with our FREE daily email newsletter.