Neo Ivy Capital Management Takes Position in Entergy Corporation $ETR

Neo Ivy Capital Management acquired a new position in shares of 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 institutional investor acquired 19,976 shares of the utilities provider’s stock, valued at approximately $1,660,000.

Other large investors also recently made changes to their positions in the company. Choreo LLC increased its stake in Entergy by 12.3% during the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock valued at $816,000 after purchasing an additional 1,042 shares in the last quarter. First American Trust FSB acquired a new position in shares of Entergy during the first quarter valued at about $3,896,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Entergy during the first quarter worth about $32,658,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Entergy by 26.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock worth $8,219,000 after acquiring an additional 19,862 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Entergy by 369.8% in the 1st quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock valued at $7,352,000 after acquiring an additional 67,696 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on ETR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Entergy in a research note on Wednesday, October 8th. Evercore ISI increased their price target on Entergy from $98.00 to $101.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Royal Bank Of Canada raised shares of Entergy to a “moderate buy” rating in a report on Tuesday, October 28th. Jefferies Financial Group started coverage on shares of Entergy in a research note on Thursday, September 4th. They issued a “buy” rating and a $109.00 target price for the company. Finally, KeyCorp reissued an “overweight” rating and set a $106.00 price target (up from $96.00) on shares of Entergy in a research report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.47.

Entergy Stock Performance

Shares of ETR stock opened at $93.44 on Friday. Entergy Corporation has a 12 month low of $73.15 and a 12 month high of $98.58. The stock has a market capitalization of $41.73 billion, a P/E ratio of 23.07, a PEG ratio of 2.40 and a beta of 0.63. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 1.62. The firm’s 50 day moving average is $94.40 and its 200 day moving average is $88.35.

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. Entergy had a return on equity of 11.53% and a net margin of 14.26%.The business had revenue of $2.37 billion for the quarter. On average, sell-side analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be given a dividend of $0.64 per share. This is a boost from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, November 13th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.7%. Entergy’s dividend payout ratio is 63.21%.

Insider Transactions at Entergy

In related news, insider Anastasia Minor sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the transaction, the insider directly owned 10,122 shares of the company’s stock, valued at approximately $975,659.58. This trade represents a 33.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Haley Fisackerly sold 5,136 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total transaction of $495,624.00. Following the transaction, the insider directly owned 7,899 shares in the company, valued at approximately $762,253.50. This represents a 39.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 10,179 shares of company stock valued at $981,707. 0.39% of the stock is owned by corporate insiders.

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.