Ameriprise Financial Inc. Decreases Holdings in Entergy Corporation (ETR)
Ameriprise Financial Inc. cut its holdings in shares of Entergy Corporation (NYSE:ETR) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,348,522 shares of the utilities provider’s stock after selling 112,522 shares during the quarter. Ameriprise Financial Inc. owned 2.42% of Entergy Corporation worth $333,839,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in ETR. Commerzbank Aktiengesellschaft FI boosted its position in Entergy Corporation by 17.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 3,524 shares of the utilities provider’s stock worth $268,000 after acquiring an additional 527 shares during the period. Daiwa Securities Group Inc. boosted its position in Entergy Corporation by 6.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 5,000 shares of the utilities provider’s stock worth $380,000 after acquiring an additional 300 shares during the period. Henderson Group PLC boosted its position in Entergy Corporation by 6.6% during the 1st quarter. Henderson Group PLC now owns 20,932 shares of the utilities provider’s stock worth $1,590,000 after acquiring an additional 1,300 shares during the period. US Bancorp DE boosted its position in Entergy Corporation by 19.8% during the 1st quarter. US Bancorp DE now owns 21,708 shares of the utilities provider’s stock worth $1,648,000 after acquiring an additional 3,592 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Entergy Corporation by 2.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,419 shares of the utilities provider’s stock worth $2,614,000 after acquiring an additional 937 shares during the period. Hedge funds and other institutional investors own 84.07% of the company’s stock.
In related news, insider Haley Fisackerly sold 500 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $77.17, for a total transaction of $38,585.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sallie T. Rainer sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $77.78, for a total value of $77,780.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,495 shares of company stock worth $271,313. 0.24% of the stock is currently owned by company insiders.
A number of research firms have recently weighed in on ETR. Morgan Stanley raised their price target on Entergy Corporation from $79.00 to $82.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. BidaskClub raised Entergy Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine downgraded Entergy Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating on shares of Entergy Corporation in a research note on Friday, August 11th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $78.00 price objective on shares of Entergy Corporation in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $78.33.
Entergy Corporation (ETR) traded up 0.40% during midday trading on Thursday, reaching $78.54. The company had a trading volume of 87,330 shares. Entergy Corporation has a 12-month low of $66.71 and a 12-month high of $81.83. The company’s market capitalization is $14.10 billion. The stock has a 50-day moving average price of $77.97 and a 200 day moving average price of $77.01.
Entergy Corporation (NYSE:ETR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $1.91. Entergy Corporation had a positive return on equity of 14.08% and a negative net margin of 7.98%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the business posted $3.16 EPS. Equities analysts forecast that Entergy Corporation will post $6.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Thursday, August 10th were issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend was Tuesday, August 8th. Entergy Corporation’s dividend payout ratio (DPR) is -69.74%.
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.
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