Traders Sell Entergy Corp. (ETR) on Strength (ETR)
Investors sold shares of Entergy Corp. (NYSE:ETR) on strength during trading on Friday. $11.10 million flowed into the stock on the tick-up and $42.43 million flowed out of the stock on the tick-down, for a money net flow of $31.33 million out of the stock. Of all companies tracked, Entergy Corp. had the 0th highest net out-flow for the day. Entergy Corp. traded up $0.87 for the day and closed at $81.39
A number of equities analysts have commented on the stock. Citigroup Inc. lifted their price objective on shares of Entergy Corp. from $72.00 to $83.00 and gave the stock a “neutral” rating in a report on Wednesday, July 20th. Goldman Sachs Group Inc. upgraded Entergy Corp. from a “neutral” rating to a “buy” rating and raised their target price for the company from $78.00 to $83.00 in a research note on Friday, April 1st. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $81.00 target price on shares of Entergy Corp. in a research note on Friday, June 10th. Jefferies Group raised their target price on Entergy Corp. from $79.00 to $84.00 and gave the company a “hold” rating in a research note on Friday, June 10th. Finally, Bank of America Corp. reiterated a “hold” rating on shares of Entergy Corp. in a research note on Friday, June 10th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $78.59.
The firm’s market cap is $14.55 billion. The company has a 50 day moving average of $79.90 and a 200 day moving average of $75.89.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.18%.
In other Entergy Corp. news, EVP Roderick K. West sold 64,000 shares of the company’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $75.76, for a total value of $4,848,640.00. Following the sale, the executive vice president now directly owns 69,223 shares in the company, valued at $5,244,334.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 1,933 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $77.19, for a total value of $149,208.27. Following the completion of the sale, the insider now owns 7,120 shares in the company, valued at $549,592.80. The disclosure for this sale can be found here.
A number of hedge funds recently made changes to their positions in the stock. BlackRock Advisors LLC boosted its stake in shares of Entergy Corp. by 57.7% in the fourth quarter. BlackRock Advisors LLC now owns 206,557 shares of the company’s stock worth $14,120,000 after buying an additional 75,556 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Entergy Corp. by 22.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 203,760 shares of the company’s stock worth $13,928,000 after buying an additional 36,950 shares during the period. I.G. Investment Management LTD. boosted its stake in shares of Entergy Corp. by 57.3% in the fourth quarter. I.G. Investment Management LTD. now owns 49,729 shares of the company’s stock worth $3,399,000 after buying an additional 18,116 shares during the period. BHF Kleinwort Benson Group S.A. boosted its stake in shares of Entergy Corp. by 92.1% in the fourth quarter. BHF Kleinwort Benson Group S.A. now owns 25,167 shares of the company’s stock worth $1,720,000 after buying an additional 12,067 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Entergy Corp. by 28.0% in the fourth quarter. Victory Capital Management Inc. now owns 38,139 shares of the company’s stock worth $2,607,000 after buying an additional 8,341 shares during the period.
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. It 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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