Wells Fargo & Company MN Cuts Stock Position in Entergy Co. (NYSE:ETR)

Wells Fargo & Company MN trimmed its stake in shares of Entergy Co. (NYSE:ETR) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 609,862 shares of the utilities provider’s stock after selling 5,989 shares during the period. Wells Fargo & Company MN owned approximately 0.32% of Entergy worth $58,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. Vanguard Group Inc boosted its position in shares of Entergy by 1.0% in the third quarter. Vanguard Group Inc now owns 21,656,660 shares of the utilities provider’s stock worth $1,757,006,000 after purchasing an additional 218,066 shares during the period. BlackRock Inc. boosted its position in shares of Entergy by 2.7% during the fourth quarter. BlackRock Inc. now owns 16,276,978 shares of the utilities provider’s stock worth $1,400,960,000 after acquiring an additional 421,339 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Entergy by 8,450.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,844,755 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 5,776,402 shares during the last quarter. FMR LLC boosted its position in shares of Entergy by 30.2% during the fourth quarter. FMR LLC now owns 3,335,411 shares of the utilities provider’s stock worth $287,079,000 after acquiring an additional 773,770 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Entergy by 5.4% during the fourth quarter. Northern Trust Corp now owns 2,491,750 shares of the utilities provider’s stock worth $214,465,000 after acquiring an additional 127,998 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ETR traded down $0.93 during mid-day trading on Monday, reaching $102.00. The company had a trading volume of 2,360,600 shares, compared to its average volume of 1,540,414. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.52 and a current ratio of 0.70. Entergy Co. has a 52 week low of $77.59 and a 52 week high of $104.48. The stock’s 50-day moving average price is $99.92. The firm has a market cap of $19.51 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 2.77 and a beta of 0.37.

Entergy (NYSE:ETR) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.12). Entergy had a net margin of 9.04% and a return on equity of 15.17%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. As a group, sell-side analysts predict that Entergy Co. will post 5.3 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Thursday, May 9th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Wednesday, May 8th. Entergy’s payout ratio is currently 49.79%.

ETR has been the subject of a number of research reports. Macquarie set a $100.00 target price on shares of Entergy and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley upped their price target on shares of Entergy from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. ValuEngine downgraded shares of Entergy from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research downgraded shares of Entergy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, UBS Group increased their target price on shares of Entergy from $107.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Entergy has an average rating of “Buy” and a consensus price target of $95.50.

In other news, insider Haley Fisackerly sold 3,501 shares of Entergy stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $97.00, for a total transaction of $339,597.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Leo P. Denault sold 44,279 shares of Entergy stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $97.50, for a total transaction of $4,317,202.50. The disclosure for this sale can be found here. Insiders sold a total of 135,233 shares of company stock valued at $13,334,627 over the last ninety days. 0.27% of the stock is currently owned by insiders.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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