Legal & General Group Plc Buys 31,458 Shares of Entergy Co. (ETR)
Legal & General Group Plc increased its stake in Entergy Co. (NYSE:ETR) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,165,237 shares of the utilities provider’s stock after acquiring an additional 31,458 shares during the period. Legal & General Group Plc owned about 0.65% of Entergy worth $88,976,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its position in Entergy by 1.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 217,912 shares of the utilities provider’s stock valued at $16,608,000 after purchasing an additional 3,195 shares during the last quarter. Van ECK Associates Corp raised its position in Entergy by 3.2% during the 3rd quarter. Van ECK Associates Corp now owns 18,593 shares of the utilities provider’s stock valued at $1,420,000 after purchasing an additional 580 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Entergy by 4.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,396 shares of the utilities provider’s stock valued at $3,314,000 after purchasing an additional 2,003 shares during the last quarter. Systematic Financial Management LP raised its position in Entergy by 82.5% during the 3rd quarter. Systematic Financial Management LP now owns 258,476 shares of the utilities provider’s stock valued at $19,737,000 after purchasing an additional 116,860 shares during the last quarter. Finally, AE Wealth Management LLC raised its position in Entergy by 33.7% during the 3rd quarter. AE Wealth Management LLC now owns 25,702 shares of the utilities provider’s stock valued at $1,963,000 after purchasing an additional 6,481 shares during the last quarter. 82.94% of the stock is owned by institutional investors.
Entergy Co. (ETR) opened at $85.52 on Friday. Entergy Co. has a twelve month low of $67.84 and a twelve month high of $87.95. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $15,588.14, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.78 and a beta of 0.55.
Entergy (NYSE:ETR) last posted its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.11. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the business earned $2.31 EPS. sell-side analysts expect that Entergy Co. will post 6.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 9th were issued a dividend of $0.89 per share. This is an increase from Entergy’s previous quarterly dividend of $0.87. The ex-dividend date was Wednesday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.16%. Entergy’s dividend payout ratio is -72.06%.
A number of research analysts have commented on the company. TheStreet raised Entergy from a “c” rating to a “b-” rating in a research report on Friday, October 27th. Mizuho reaffirmed a “hold” rating and set a $83.00 price target on shares of Entergy in a research report on Friday, October 27th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $96.00 price target (up previously from $90.00) on shares of Entergy in a research report on Wednesday, October 25th. Bank of America assumed coverage on Entergy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $86.00 price target for the company. Finally, Jefferies Group raised Entergy from a “hold” rating to a “buy” rating in a research report on Monday, October 16th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $82.42.
In other Entergy news, insider Haley Fisackerly sold 4,800 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $87.00, for a total transaction of $417,600.00. Following the transaction, the insider now owns 5,276 shares in the company, valued at approximately $459,012. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles L. Rice, Jr. sold 9,234 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $86.24, for a total value of $796,340.16. The disclosure for this sale can be found here. Insiders have sold a total of 57,812 shares of company stock worth $4,907,522 in the last quarter. Company insiders own 0.24% of the company’s stock.
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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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