Entergy Corporation $ETR Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its holdings in Entergy Corporation (NYSE:ETR) by 23.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 483,177 shares of the utilities provider’s stock after selling 144,753 shares during the quarter. Nordea Investment Management AB owned 0.11% of Entergy worth $39,751,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Choreo LLC increased its position in Entergy by 12.3% in the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock valued at $816,000 after acquiring an additional 1,042 shares during the period. First American Trust FSB acquired a new stake in Entergy in the 1st quarter valued at approximately $3,896,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Entergy by 26.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock valued at $8,219,000 after acquiring an additional 19,862 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Entergy in the 1st quarter valued at approximately $32,658,000. Finally, Empowered Funds LLC boosted its stake in Entergy by 369.8% during the 1st quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock valued at $7,352,000 after purchasing an additional 67,696 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Scotiabank set a $105.00 price target on Entergy and gave the company an “outperform” rating in a research note on Friday, October 3rd. Morgan Stanley decreased their price target on Entergy from $86.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Evercore ISI set a $98.00 price target on Entergy and gave the company an “in-line” rating in a research note on Monday, October 6th. Bank of America increased their price target on Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Jefferies Financial Group assumed coverage on Entergy in a research note on Thursday, September 4th. They set a “buy” rating and a $109.00 price target for the company. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.57.

Entergy Stock Performance

ETR opened at $95.80 on Friday. The firm has a market cap of $42.77 billion, a PE ratio of 23.86, a P/E/G ratio of 2.61 and a beta of 0.62. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The business has a fifty day simple moving average of $91.02 and a 200-day simple moving average of $86.09. Entergy Corporation has a fifty-two week low of $66.75 and a fifty-two week high of $98.58.

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

Entergy Dividend Announcement

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

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the firm’s 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 completion of the sale, the insider owned 3,318 shares of the company’s stock, valued at $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.39% of the stock is currently owned by company insiders.

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.