PGGM Investments Sells 24,150 Shares of Entergy Corp. (ETR)
PGGM Investments cut its stake in Entergy Corp. (NYSE:ETR) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 659,409 shares of the company’s stock after selling 24,150 shares during the period. PGGM Investments’ holdings in Entergy Corp. were worth $53,643,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Carnick & Kubik LLC increased its position in shares of Entergy Corp. by 0.7% in the first quarter. Carnick & Kubik LLC now owns 8,305 shares of the company’s stock valued at $658,000 after buying an additional 60 shares in the last quarter. IBM Retirement Fund increased its position in shares of Entergy Corp. by 0.5% in the second quarter. IBM Retirement Fund now owns 21,221 shares of the company’s stock valued at $1,802,000 after buying an additional 115 shares in the last quarter. MIG Capital LLC increased its position in shares of Entergy Corp. by 4.1% in the first quarter. MIG Capital LLC now owns 3,434 shares of the company’s stock valued at $272,000 after buying an additional 136 shares in the last quarter. Washington Trust Bank increased its position in shares of Entergy Corp. by 11.5% in the second quarter. Washington Trust Bank now owns 1,936 shares of the company’s stock valued at $157,000 after buying an additional 199 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Entergy Corp. by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the company’s stock valued at $342,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 85.22% of the company’s stock.
Shares of Entergy Corp. (NYSE:ETR) traded up 0.94% during trading on Thursday, reaching $81.73. The company’s stock had a trading volume of 1,032,231 shares. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of 84.43 and a beta of 0.32. The company has a 50 day moving average of $78.81 and a 200-day moving average of $78.01. Entergy Corp. has a 12-month low of $63.30 and a 12-month high of $82.09.
Entergy Corp. (NYSE:ETR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $2.06. Entergy Corp. had a return on equity of 15.34% and a net margin of 1.78%. During the same quarter last year, the firm earned $0.83 earnings per share. Analysts forecast that Entergy Corp. will post $6.61 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 11th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Tuesday, August 9th. Entergy Corp.’s payout ratio is presently 354.17%.
ETR has been the subject of a number of research analyst reports. Deutsche Bank AG dropped their price target on Entergy Corp. from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, August 3rd. Jefferies Group lifted their price target on Entergy Corp. from $79.00 to $84.00 and gave the company a “hold” rating in a research report on Friday, June 10th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $81.00 price target on shares of Entergy Corp. in a research report on Friday, June 10th. Goldman Sachs Group Inc. upgraded Entergy Corp. from a “buy” rating to a “conviction-buy” rating and lifted their price target for the company from $87.00 to $88.00 in a research report on Monday, June 6th. Finally, Bank of America Corp. reiterated a “hold” rating on shares of Entergy Corp. in a research report on Friday, June 10th. Ten research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Entergy Corp. has an average rating of “Hold” and an average target price of $80.05.
In related news, insider Charles L. Rice, Jr. sold 760 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $79.36, for a total transaction of $60,313.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Haley Fisackerly sold 1,250 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $77.60, for a total value of $97,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
Entergy Corp. Company Profile
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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