Nippon Life Insurance Co. lowered its position in shares of Entergy Co. (NYSE:ETR) by 12.9% during the first quarter, Holdings Channel reports. The fund owned 19,926 shares of the utilities provider’s stock after selling 2,949 shares during the period. Nippon Life Insurance Co.’s holdings in Entergy were worth $1,514,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gateway Investment Advisers LLC raised its position in Entergy by 0.6% in the third quarter. Gateway Investment Advisers LLC now owns 15,091 shares of the utilities provider’s stock worth $1,158,000 after buying an additional 88 shares during the last quarter. Cypress Asset Management Inc. TX raised its position in Entergy by 15.0% in the third quarter. Cypress Asset Management Inc. TX now owns 4,180 shares of the utilities provider’s stock worth $321,000 after buying an additional 545 shares during the last quarter. Boston Advisors LLC raised its position in shares of Entergy by 39.2% in the third quarter. Boston Advisors LLC now owns 245,206 shares of the utilities provider’s stock valued at $18,815,000 after buying an additional 69,074 shares in the last quarter. Conning Inc. raised its position in shares of Entergy by 4.0% in the third quarter. Conning Inc. now owns 6,563 shares of the utilities provider’s stock valued at $504,000 after buying an additional 250 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Entergy by 251.8% in the third quarter. State of Alaska Department of Revenue now owns 87,434 shares of the utilities provider’s stock valued at $6,708,000 after buying an additional 62,584 shares in the last quarter. 85.60% of the stock is owned by institutional investors and hedge funds.
Shares of Entergy Co. (NYSE:ETR) traded up 0.80% during mid-day trading on Friday, reaching $76.41. The company’s stock had a trading volume of 1,076,481 shares. The firm’s 50 day moving average is $75.67 and its 200 day moving average is $72.84. The firm’s market cap is $13.71 billion. Entergy Co. has a one year low of $66.71 and a one year high of $82.08.
Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, February 15th. The utilities provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.13 by $0.18. Entergy had a net margin of 12.20% and a return on equity of 15.70%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the company earned $1.58 earnings per share. On average, equities analysts anticipate that Entergy Co. will post $4.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Thursday, May 11th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Tuesday, May 9th. Entergy’s payout ratio is 48.60%.
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Several brokerages have recently issued reports on ETR. Zacks Investment Research lowered Entergy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Goldman Sachs Group Inc lowered Entergy from a “buy” rating to a “neutral” rating and set a $76.00 target price for the company. in a research report on Thursday, March 23rd. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating and issued a $72.00 target price on shares of Entergy in a research report on Wednesday, April 12th. Deutsche Bank AG increased their target price on Entergy from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Finally, Mizuho reissued a “neutral” rating and issued a $79.00 target price on shares of Entergy in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $76.55.
In other Entergy news, EVP Marcus V. Brown sold 4,005 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $75.53, for a total value of $302,497.65. Following the sale, the executive vice president now directly owns 24,847 shares of the company’s stock, valued at $1,876,693.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sallie T. Rainer sold 500 shares of the company’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $73.46, for a total transaction of $36,730.00. Following the completion of the sale, the insider now directly owns 4,219 shares in the company, valued at $309,927.74. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.
Entergy Company Profile
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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