Chevy Chase Trust Holdings LLC Has $19.61 Million Stake in Entergy Corporation $ETR

Chevy Chase Trust Holdings LLC grew its holdings in Entergy Corporation (NYSE:ETR) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,951 shares of the utilities provider’s stock after buying an additional 10,858 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Entergy were worth $19,612,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mattson Financial Services LLC lifted its holdings in Entergy by 100.0% during 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 last quarter. Atwood & Palmer Inc. lifted its holdings in Entergy by 135.7% during the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 190 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Entergy during the 1st quarter worth approximately $28,000. Wayfinding Financial LLC acquired a new stake in Entergy during the 1st quarter worth approximately $32,000. Finally, Wellington Shields & Co. LLC acquired a new stake in Entergy during the 1st quarter worth approximately $34,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, the insider owned 3,318 shares in the company, valued at approximately $300,279. This trade represents a 57.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

Entergy Stock Down 0.2%

NYSE ETR opened at $95.80 on Friday. Entergy Corporation has a fifty-two week low of $66.75 and a fifty-two week high of $98.58. The business has a fifty day moving average price of $91.02 and a two-hundred day moving average price of $86.09. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The stock has a market capitalization of $42.77 billion, a PE ratio of 23.86, a PEG ratio of 2.61 and a beta of 0.62.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. Entergy had a return on equity of 11.52% and a net margin of 14.35%.The company had revenue of $2.37 billion for the quarter. Equities analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were paid a $0.60 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. Entergy’s dividend payout ratio (DPR) is presently 59.85%.

Analyst Upgrades and Downgrades

ETR has been the subject of several research reports. Scotiabank set a $105.00 price target on Entergy and gave the stock an “outperform” rating in a report on Friday, October 3rd. KeyCorp restated an “overweight” rating and set a $106.00 price objective (up previously from $96.00) on shares of Entergy in a research note on Wednesday. BMO Capital Markets reiterated an “outperform” rating and set a $104.00 target price (up from $96.00) on shares of Entergy in a research report on Tuesday. Bank of America increased their target price on Entergy from $88.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Jefferies Financial Group started coverage on Entergy in a research note on Thursday, September 4th. They issued a “buy” rating and a $109.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and an average price target of $97.57.

Entergy Company Profile

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.