R Squared Ltd Purchases New Shares in Entergy Corporation $ETR

R Squared Ltd purchased a new position in Entergy Corporation (NYSE:ETR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,490 shares of the utilities provider’s stock, valued at approximately $743,000.

A number of other institutional investors have also added to or reduced their stakes in ETR. BlackRock Inc. purchased a new position in Entergy during the second quarter valued at $4,861,376,000. Bank of America Corp DE bought a new stake in shares of Entergy during the 2nd quarter valued at $1,991,669,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Entergy in the 2nd quarter worth about $633,338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Entergy by 4.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,941,157 shares of the utilities provider’s stock worth $452,681,000 after buying an additional 161,411 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of Entergy in the 2nd quarter worth about $430,404,000. Institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In other Entergy news, insider Laura Landreaux sold 5,600 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $106.20, for a total transaction of $594,720.00. Following the completion of the sale, the insider directly owned 22,589 shares in the company, valued at approximately $2,398,951.80. This trade represents a 19.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Entergy Trading Down 0.0%

Entergy stock opened at $111.97 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.93 and a debt-to-equity ratio of 1.70. The business’s fifty day simple moving average is $105.20 and its two-hundred day simple moving average is $108.03. Entergy Corporation has a 12 month low of $90.87 and a 12 month high of $118.44. The company has a market capitalization of $53.50 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.50 and a beta of 0.44.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.25. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.12 billion. Entergy had a return on equity of 11.44% and a net margin of 14.63%. During the same period last year, the company earned $1.53 earnings per share. As a group, equities analysts predict that Entergy Corporation will post 4.41 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a dividend of $0.68 per share. This is a positive change from Entergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.72 annualized dividend and a yield of 2.4%. Entergy’s payout ratio is currently 58.85%.

Wall Street Analyst Weigh In

ETR has been the subject of several research reports. Morgan Stanley increased their price target on shares of Entergy from $98.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 21st. Mizuho dropped their price objective on shares of Entergy from $122.00 to $121.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Barclays restated an “overweight” rating and issued a $115.00 price objective (down from $128.00) on shares of Entergy in a report on Monday, October 19th. Ladenburg Thalmann & Co. Inc. decreased their target price on shares of Entergy from $120.50 to $113.50 and set a “buy” rating for the company in a research note on Monday, October 12th. Finally, Wall Street Zen upgraded shares of Entergy from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Twenty investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.57.

Entergy Company Profile

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers. Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy. The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.