Pictet Asset Management Holding SA reduced its position in Entergy Corporation (NYSE:ETR – Free Report) by 1.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,434,042 shares of the utilities provider’s stock after selling 36,554 shares during the period. Pictet Asset Management Holding SA owned 0.53% of Entergy worth $273,489,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of ETR. Brighton Jones LLC grew its holdings in Entergy by 275.6% in the fourth quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider’s stock worth $696,000 after purchasing an additional 6,733 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Entergy by 40.7% during the 1st quarter. Woodline Partners LP now owns 36,228 shares of the utilities provider’s stock valued at $3,097,000 after purchasing an additional 10,476 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Entergy during the 2nd quarter valued at $6,869,000. Brown Advisory Inc. boosted its position in shares of Entergy by 4.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,254 shares of the utilities provider’s stock worth $354,000 after purchasing an additional 193 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Entergy in the 2nd quarter worth $17,225,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.
Entergy Trading Up 0.5%
Shares of Entergy stock opened at $115.91 on Friday. The stock has a market cap of $53.07 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50. The firm has a fifty day moving average price of $111.97 and a 200 day moving average price of $104.64. Entergy Corporation has a 1 year low of $80.11 and a 1 year high of $118.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.96 and a quick ratio of 0.73.
Entergy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 1st were given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, May 1st. Entergy’s dividend payout ratio (DPR) is currently 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 value of $1,170,180.00. Following the completion of the transaction, the insider directly owned 14,182 shares of the company’s stock, valued at approximately $1,560,020. The trade was a 42.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.21% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have commented on ETR. Morgan Stanley set a $94.00 price target on Entergy in a research note on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on Entergy from $126.00 to $129.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. BMO Capital Markets set a $123.00 price objective on shares of Entergy in a report on Wednesday, June 10th. Evercore set a $123.00 price objective on shares of Entergy in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company lifted their target price on shares of Entergy from $123.00 to $128.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Seventeen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.68.
Get Our Latest Stock Report on ETR
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.
Featured Articles
- Five stocks we like better than Entergy
- 3 Stocks That Could Benefit as the Robotaxi Race Heats Up
- 3 Waste Stocks Turning AI Investments into Growth
- 3 Overlooked Tech ETFs That Are Quietly Killing It This Year
- 3 ETFs Pairing Market-Beating Returns With High Dividend Yields
Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Corporation (NYSE:ETR – Free Report).
Receive News & Ratings for Entergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entergy and related companies with MarketBeat.com's FREE daily email newsletter.
