7,490 Shares in Entergy Corporation $ETR Acquired by R Squared Ltd

R Squared Ltd purchased a new position in Entergy Corporation (NYSE:ETR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,490 shares of the utilities provider’s stock, valued at approximately $743,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Entergy during the 2nd quarter worth $4,861,376,000. Bank of America Corp DE purchased a new stake in Entergy during the second quarter valued at about $1,991,669,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Entergy during the second quarter worth about $633,338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Entergy by 4.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,941,157 shares of the utilities provider’s stock worth $452,681,000 after purchasing an additional 161,411 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in Entergy during the second quarter worth about $430,404,000. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Performance

Shares of NYSE:ETR opened at $111.97 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.93 and a debt-to-equity ratio of 1.70. The company has a 50-day moving average price of $105.20 and a 200-day moving average price of $108.03. The company has a market cap of $53.50 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.50 and a beta of 0.44. Entergy Corporation has a 12 month low of $90.87 and a 12 month high of $118.44.

Entergy (NYSE:ETR) last posted its earnings results on Monday, November 2nd. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.25. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Entergy had a return on equity of 11.44% and a net margin of 14.63%. During the same period in the previous year, the firm earned $1.53 earnings per share. As a group, equities analysts anticipate that Entergy Corporation will post 4.41 EPS for the current year.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a dividend of $0.68 per share. This is an increase from Entergy’s previous quarterly dividend of $0.64. This represents a $2.72 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, November 13th. Entergy’s dividend payout ratio is presently 58.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ETR shares. Ladenburg Thalmann & Co. Inc. reduced their price objective on Entergy from $120.50 to $113.50 and set a “buy” rating on the stock in a research report on Monday, October 12th. BMO Capital Markets dropped their target price on Entergy from $124.00 to $123.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Mizuho cut their target price on Entergy from $122.00 to $121.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. BTIG Research reaffirmed a “buy” rating and issued a $124.00 target price (up from $117.00) on shares of Entergy in a research note on Tuesday, November 3rd. Finally, Wall Street Zen upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Entergy has an average rating of “Moderate Buy” and a consensus price target of $121.57.

Insider Activity

In related news, insider Laura Landreaux sold 5,600 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $106.20, for a total value of $594,720.00. Following the completion of the transaction, the insider directly owned 22,589 shares of the company’s stock, valued at $2,398,951.80. This represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

About Entergy

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers. Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy. The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.