Magellan Asset Management Ltd Has $25.05 Million Holdings in Entergy Corporation $ETR

Magellan Asset Management Ltd grew its holdings in Entergy Corporation (NYSE:ETR) by 3.7% during the 2nd quarter, Holdings Channel reports. The firm owned 301,351 shares of the utilities provider’s stock after purchasing an additional 10,755 shares during the period. Magellan Asset Management Ltd’s holdings in Entergy were worth $25,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ETR. Brighton Jones LLC lifted its holdings in Entergy by 275.6% in the fourth quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider’s stock valued at $696,000 after buying an additional 6,733 shares during the period. D.A. Davidson & CO. bought a new stake in shares of Entergy during the 1st quarter valued at $251,000. M&T Bank Corp lifted its stake in shares of Entergy by 6.1% in the 1st quarter. M&T Bank Corp now owns 38,013 shares of the utilities provider’s stock valued at $3,250,000 after purchasing an additional 2,202 shares during the period. Greenleaf Trust boosted its position in shares of Entergy by 6.3% in the 1st quarter. Greenleaf Trust now owns 10,619 shares of the utilities provider’s stock worth $908,000 after purchasing an additional 627 shares during the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in shares of Entergy in the 1st quarter worth $276,000. 88.07% of the stock is owned by institutional investors.

Entergy Stock Performance

Shares of ETR opened at $97.12 on Friday. The firm has a market cap of $43.37 billion, a P/E ratio of 23.98, a PEG ratio of 2.40 and a beta of 0.63. Entergy Corporation has a twelve month low of $72.64 and a twelve month high of $98.58. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71. The firm’s 50 day moving average price is $93.06 and its two-hundred day moving average price is $87.65.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. The company had revenue of $2.37 billion during the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. On average, analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, November 13th. Entergy’s dividend payout ratio is presently 63.21%.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 5,136 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total transaction of $495,624.00. Following the completion of the transaction, the insider directly owned 7,899 shares of the company’s stock, valued at $762,253.50. This represents a 39.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anastasia Minor sold 5,000 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total value of $481,950.00. Following the transaction, the insider owned 10,122 shares of the company’s stock, valued at approximately $975,659.58. The trade was a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,324 shares of company stock worth $994,902. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ETR. Scotiabank set a $105.00 target price on Entergy and gave the company an “outperform” rating in a research note on Friday, October 3rd. Mizuho increased their price target on shares of Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Barclays set a $100.00 price objective on shares of Entergy and gave the company an “overweight” rating in a report on Monday, October 6th. Wells Fargo & Company upgraded shares of Entergy to a “strong-buy” rating in a report on Tuesday, October 28th. Finally, Evercore ISI lifted their price target on shares of Entergy from $98.00 to $101.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Entergy currently has an average rating of “Moderate Buy” and an average target price of $102.37.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.