Cambridge Investment Research Advisors Inc. Boosts Stake in Entergy Corporation (ETR)
Cambridge Investment Research Advisors Inc. increased its holdings in shares of Entergy Corporation (NYSE:ETR) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,966 shares of the utilities provider’s stock after purchasing an additional 4,373 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Entergy Corporation were worth $4,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Entergy Corporation by 46.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 410 shares during the last quarter. Advisory Services Network LLC raised its holdings in shares of Entergy Corporation by 2.1% during the second quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock worth $179,000 after purchasing an additional 49 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Entergy Corporation by 3.0% during the second quarter. Parallel Advisors LLC now owns 2,448 shares of the utilities provider’s stock worth $188,000 after purchasing an additional 71 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of Entergy Corporation during the second quarter worth $204,000. Finally, IBM Retirement Fund raised its holdings in shares of Entergy Corporation by 34.1% during the second quarter. IBM Retirement Fund now owns 2,669 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 678 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.
ETR has been the subject of a number of recent analyst reports. ValuEngine raised shares of Entergy Corporation from a “hold” rating to a “buy” rating in a report on Monday, August 7th. J P Morgan Chase & Co lifted their price objective on shares of Entergy Corporation from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Bank of America Corporation initiated coverage on shares of Entergy Corporation in a report on Tuesday, October 24th. They issued a “neutral” rating and a $86.00 price objective for the company. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $96.00 price objective (up previously from $90.00) on shares of Entergy Corporation in a report on Wednesday, October 25th. Finally, Morgan Stanley lifted their price objective on shares of Entergy Corporation from $82.00 to $84.00 and gave the company an “underweight” rating in a report on Friday, September 8th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $82.42.
Entergy Corporation (NYSE ETR) traded down $0.53 during trading hours on Friday, reaching $85.90. 875,300 shares of the company’s stock traded hands, compared to its average volume of 1,209,223. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 1.61. The firm has a market cap of $15,579.13, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.78 and a beta of 0.57. Entergy Corporation has a 12 month low of $67.40 and a 12 month high of $87.95.
Entergy Corporation (NYSE:ETR) last posted its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.11. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.13 billion. Entergy Corporation had a negative net margin of 7.82% and a positive return on equity of 14.76%. During the same period in the previous year, the business posted $2.31 EPS. sell-side analysts anticipate that Entergy Corporation will post 6.93 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 9th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.14%. This is an increase from Entergy Corporation’s previous quarterly dividend of $0.87. The ex-dividend date is Wednesday, November 8th. Entergy Corporation’s payout ratio is -72.06%.
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In related news, insider Richard C. Riley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. Following the sale, the insider now directly owns 27,264 shares of the company’s stock, valued at approximately $2,317,440. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sallie T. Rainer sold 6,300 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $82.00, for a total transaction of $516,600.00. The disclosure for this sale can be found here. Insiders sold a total of 58,812 shares of company stock worth $4,986,472 over the last three months. 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.
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