Korea Investment CORP cut its position in Entergy Corporation (NYSE:ETR) by 8.5% during the second quarter, Holdings Channel reports. The firm owned 110,762 shares of the utilities provider’s stock after selling 10,224 shares during the period. Korea Investment CORP’s holdings in Entergy Corporation were worth $8,503,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Candriam Luxembourg S.C.A. increased its position in Entergy Corporation by 35.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 19,116 shares of the utilities provider’s stock worth $1,468,000 after buying an additional 5,009 shares during the period. Univest Corp of Pennsylvania increased its position in Entergy Corporation by 0.6% in the second quarter. Univest Corp of Pennsylvania now owns 4,281 shares of the utilities provider’s stock worth $329,000 after buying an additional 25 shares during the period. Daiwa Securities Group Inc. increased its position in Entergy Corporation by 1.0% in the second quarter. Daiwa Securities Group Inc. now owns 5,050 shares of the utilities provider’s stock worth $388,000 after buying an additional 50 shares during the period. Bessemer Group Inc. increased its position in Entergy Corporation by 2.0% in the second quarter. Bessemer Group Inc. now owns 5,360 shares of the utilities provider’s stock worth $411,000 after buying an additional 103 shares during the period. Finally, CIBC Asset Management Inc increased its position in Entergy Corporation by 0.3% in the second quarter. CIBC Asset Management Inc now owns 18,961 shares of the utilities provider’s stock worth $1,456,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 83.29% of the company’s stock.

Entergy Corporation (ETR) opened at 76.81 on Thursday. Entergy Corporation has a 12-month low of $66.71 and a 12-month high of $81.83. The company’s market cap is $13.79 billion. The firm has a 50 day moving average price of $76.66 and a 200 day moving average price of $75.83.

Entergy Corporation (NYSE:ETR) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $2.44 billion. During the same period last year, the business posted $3.16 earnings per share. On average, analysts anticipate that Entergy Corporation will post $5.49 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be issued a dividend of $0.87 per share. The ex-dividend date is Tuesday, August 8th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.53%. Entergy Corporation’s payout ratio is -69.74%.

TRADEMARK VIOLATION WARNING: This piece was first reported by Daily Political and is owned by of Daily Political. If you are reading this piece on another site, it was illegally copied and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/08/10/korea-investment-corp-cuts-stake-in-entergy-corporation-etr.html.

A number of brokerages have commented on ETR. ValuEngine upgraded Entergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday. BMO Capital Markets restated a “hold” rating and issued a $78.00 target price on shares of Entergy Corporation in a research note on Friday, August 4th. BidaskClub upgraded Entergy Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and issued a $78.00 target price on shares of Entergy Corporation in a research note on Thursday, July 6th. Finally, Zacks Investment Research upgraded Entergy Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.46.

In related news, insider Haley Fisackerly sold 600 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $75.92, for a total value of $45,552.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexis M. Herman sold 995 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.38, for a total transaction of $75,998.10. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

About Entergy Corporation

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.

Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Corporation (NYSE:ETR).

Institutional Ownership by Quarter for Entergy Corporation (NYSE:ETR)

Receive News & Ratings for Entergy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entergy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.