OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Entergy Corporation (NYSE:ETR – Free Report) by 76.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 48,830 shares of the utilities provider’s stock after selling 159,500 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Entergy were worth $4,513,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Twin City Private Wealth LLC increased its position in shares of Entergy by 2.3% during the fourth quarter. Twin City Private Wealth LLC now owns 30,310 shares of the utilities provider’s stock worth $2,802,000 after purchasing an additional 673 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Entergy by 4.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 72,212 shares of the utilities provider’s stock worth $6,675,000 after purchasing an additional 3,037 shares in the last quarter. MML Investors Services LLC increased its position in shares of Entergy by 0.5% during the fourth quarter. MML Investors Services LLC now owns 203,633 shares of the utilities provider’s stock worth $18,822,000 after purchasing an additional 973 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in shares of Entergy during the fourth quarter worth about $179,000. Finally, Focus Partners Wealth increased its position in shares of Entergy by 15.8% during the fourth quarter. Focus Partners Wealth now owns 104,641 shares of the utilities provider’s stock worth $9,672,000 after purchasing an additional 14,315 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.
Entergy Stock Performance
NYSE ETR opened at $110.95 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. The business’s 50 day moving average is $112.38 and its two-hundred day moving average is $103.58. Entergy Corporation has a 12-month low of $80.11 and a 12-month high of $118.44. The stock has a market capitalization of $50.80 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.90 and a beta of 0.50.
Entergy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 1st were given a dividend of $0.64 per share. The ex-dividend date was Friday, May 1st. This represents a $2.56 annualized dividend and a yield of 2.3%. Entergy’s payout ratio is presently 65.31%.
Insider Transactions at Entergy
In other Entergy news, insider Haley Fisackerly sold 10,638 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total transaction of $1,170,180.00. Following the transaction, the insider owned 14,182 shares in the company, valued at approximately $1,560,020. The trade was a 42.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.21% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on ETR shares. Scotiabank reiterated a “sector outperform” rating on shares of Entergy in a research report on Wednesday, June 10th. Morgan Stanley set a $94.00 target price on Entergy in a research report on Thursday, May 21st. Citigroup reiterated a “neutral” rating and set a $121.00 target price (up from $116.00) on shares of Entergy in a research report on Tuesday, May 5th. Seaport Research Partners cut Entergy from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Finally, BTIG Research reiterated a “buy” rating and set a $126.00 target price on shares of Entergy in a research report on Wednesday, June 10th. Seventeen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.68.
Check Out Our Latest Report on Entergy
About Entergy
Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.
Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.
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