Resona Asset Management Co. Ltd. Increases Holdings in Entergy Corporation $ETR

Resona Asset Management Co. Ltd. lifted its holdings in Entergy Corporation (NYSE:ETR) by 7.3% in the second quarter, HoldingsChannel.com reports. The fund owned 143,083 shares of the utilities provider’s stock after buying an additional 9,787 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Entergy were worth $11,879,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mattson Financial Services LLC boosted its stake in Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 150 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Entergy in the first quarter worth $28,000. Atwood & Palmer Inc. lifted its holdings in shares of Entergy by 135.7% in the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after buying an additional 190 shares in the last quarter. GoalVest Advisory LLC grew its stake in Entergy by 5,733.3% during the second quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 344 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Entergy during the second quarter valued at $30,000. Institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In related news, insider Anastasia Minor sold 5,000 shares of Entergy stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the sale, the insider owned 10,122 shares in the company, valued at $975,659.58. This trade represents a 33.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Haley Fisackerly sold 5,136 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total transaction of $495,624.00. Following the completion of the transaction, the insider owned 7,899 shares in the company, valued at $762,253.50. This represents a 39.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,324 shares of company stock valued at $994,902 over the last three months. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on ETR shares. BMO Capital Markets reiterated an “outperform” rating and issued a $104.00 price target (up previously from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. Royal Bank Of Canada upgraded Entergy to a “moderate buy” rating in a research report on Tuesday, October 28th. Wells Fargo & Company raised Entergy to a “strong-buy” rating in a research note on Tuesday, October 28th. Scotiabank set a $105.00 price objective on Entergy and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Finally, Barclays set a $100.00 target price on Entergy and gave the company an “overweight” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.37.

Entergy Price Performance

ETR stock opened at $97.12 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 1.62. Entergy Corporation has a 12 month low of $72.64 and a 12 month high of $98.58. The stock has a market cap of $43.37 billion, a PE ratio of 23.98, a P/E/G ratio of 2.40 and a beta of 0.63. The company has a 50-day moving average price of $93.06 and a 200 day moving average price of $87.65.

Entergy (NYSE:ETR) last released its earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%.The firm had revenue of $2.37 billion for the quarter. Equities research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.6%. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, November 13th. Entergy’s dividend payout ratio is 63.21%.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.