IFP Advisors Inc Cuts Stake in Entergy Corporation (ETR)
IFP Advisors Inc decreased its position in Entergy Corporation (NYSE:ETR) by 2.6% during the second quarter, Holdings Channel reports. The firm owned 13,071 shares of the utilities provider’s stock after selling 345 shares during the period. IFP Advisors Inc’s holdings in Entergy Corporation were worth $1,003,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of ETR. Vanguard Group Inc. increased its position in Entergy Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock worth $1,513,680,000 after buying an additional 470,255 shares in the last quarter. BlackRock Inc. increased its position in Entergy Corporation by 3,574.9% in the first quarter. BlackRock Inc. now owns 16,089,684 shares of the utilities provider’s stock worth $1,222,173,000 after buying an additional 15,651,863 shares in the last quarter. State Street Corp increased its position in Entergy Corporation by 1.2% in the first quarter. State Street Corp now owns 9,721,185 shares of the utilities provider’s stock worth $738,419,000 after buying an additional 115,341 shares in the last quarter. Ameriprise Financial Inc. increased its position in Entergy Corporation by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 4,461,044 shares of the utilities provider’s stock worth $338,859,000 after buying an additional 305,111 shares in the last quarter. Finally, FMR LLC increased its position in Entergy Corporation by 6.9% in the first quarter. FMR LLC now owns 3,488,914 shares of the utilities provider’s stock worth $265,018,000 after buying an additional 225,184 shares in the last quarter. 83.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Entergy Corporation (ETR) opened at 76.81 on Thursday. The firm’s market capitalization is $13.79 billion. The firm has a 50-day moving average of $76.66 and a 200 day moving average of $75.83. Entergy Corporation has a 52 week low of $66.71 and a 52 week high of $81.83.
Entergy Corporation (NYSE:ETR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $1.91. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the firm posted $3.16 EPS. On average, equities research analysts expect that Entergy Corporation will post $5.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 10th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Tuesday, August 8th. Entergy Corporation’s dividend payout ratio is presently -69.74%.
ETR has been the topic of a number of recent research reports. ValuEngine upgraded shares of Entergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research downgraded shares of Entergy Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Mizuho dropped their price objective on shares of Entergy Corporation from $79.00 to $76.00 and set a “neutral” rating on the stock in a research note on Friday, April 28th. Jefferies Group LLC reiterated a “hold” rating and set a $78.00 price objective on shares of Entergy Corporation in a research note on Thursday, July 6th. Finally, Morgan Stanley increased their price objective on shares of Entergy Corporation from $77.00 to $78.00 and gave the company an “underweight” rating in a research note on Monday, May 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $78.46.
In other Entergy Corporation news, Director Alexis M. Herman sold 995 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.38, for a total value of $75,998.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Haley Fisackerly sold 600 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $75.92, for a total transaction of $45,552.00. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
Entergy Corporation 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. The Company 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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