Baird Financial Group Inc. Has $1.63 Million Position in Entergy Co. (ETR)
Baird Financial Group Inc. raised its stake in shares of Entergy Co. (NYSE:ETR) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,230 shares of the utilities provider’s stock after purchasing an additional 748 shares during the period. Baird Financial Group Inc.’s holdings in Entergy were worth $1,634,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of ETR. FMR LLC lifted its holdings in Entergy by 256.4% during the second quarter. FMR LLC now owns 2,585,554 shares of the utilities provider’s stock valued at $208,886,000 after purchasing an additional 1,860,030 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Entergy during the second quarter valued at $93,409,000. Boston Partners lifted its holdings in Entergy by 38.4% during the second quarter. Boston Partners now owns 2,824,231 shares of the utilities provider’s stock valued at $228,170,000 after purchasing an additional 784,238 shares in the last quarter. LSV Asset Management lifted its holdings in Entergy by 11.3% during the second quarter. LSV Asset Management now owns 6,327,956 shares of the utilities provider’s stock valued at $511,235,000 after purchasing an additional 643,668 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in Entergy by 76.8% during the first quarter. OppenheimerFunds Inc. now owns 1,373,823 shares of the utilities provider’s stock valued at $108,230,000 after purchasing an additional 596,888 shares in the last quarter. 91.46% of the stock is currently owned by institutional investors and hedge funds.
NYSE:ETR opened at $84.42 on Tuesday. The company has a current ratio of 0.57, a quick ratio of 0.42 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $15.20 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48. Entergy Co. has a twelve month low of $71.95 and a twelve month high of $87.95.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Thursday, August 9th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Wednesday, August 8th. Entergy’s dividend payout ratio (DPR) is presently 49.44%.
In other Entergy news, COO Paul D. Hinnenkamp sold 6,500 shares of Entergy stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $85.00, for a total transaction of $552,500.00. Following the transaction, the chief operating officer now directly owns 27,568 shares of the company’s stock, valued at $2,343,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles L. Rice, Jr. sold 5,766 shares of Entergy stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $82.70, for a total transaction of $476,848.20. The disclosure for this sale can be found here. Insiders have sold 37,377 shares of company stock worth $3,141,926 over the last ninety days. 0.24% of the stock is owned by insiders.
Several research firms have issued reports on ETR. Howard Weil began coverage on shares of Entergy in a report on Tuesday, July 24th. They set a “sector perform” rating and a $84.00 price objective on the stock. Citigroup raised their price target on shares of Entergy from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, June 20th. Morgan Stanley decreased their price target on shares of Entergy from $79.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 13th. Goldman Sachs Group raised shares of Entergy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $87.00 to $88.00 in a research note on Thursday, July 19th. Finally, Zacks Investment Research downgraded shares of Entergy from a “hold” rating to a “sell” rating in a research note on Friday, June 15th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $88.38.
Entergy Company Profile
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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