Symons Capital Management Inc. decreased its stake in Entergy Corporation (NYSE:ETR) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 248,491 shares of the utilities provider’s stock after selling 12,275 shares during the period. Entergy Corporation comprises about 4.6% of Symons Capital Management Inc.’s investment portfolio, making the stock its 3rd largest position. Symons Capital Management Inc. owned approximately 0.14% of Entergy Corporation worth $19,076,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Entergy Corporation by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock valued at $1,513,680,000 after buying an additional 470,255 shares during the last quarter. BlackRock Inc. boosted its position in Entergy Corporation by 3,574.9% in the first quarter. BlackRock Inc. now owns 16,089,684 shares of the utilities provider’s stock valued at $1,222,173,000 after buying an additional 15,651,863 shares during the last quarter. State Street Corp boosted its position in Entergy Corporation by 1.2% in the first quarter. State Street Corp now owns 9,721,185 shares of the utilities provider’s stock valued at $738,419,000 after buying an additional 115,341 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Entergy Corporation by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 4,461,044 shares of the utilities provider’s stock valued at $338,859,000 after buying an additional 305,111 shares during the last quarter. Finally, FMR LLC boosted its position in Entergy Corporation by 6.9% in the first quarter. FMR LLC now owns 3,488,914 shares of the utilities provider’s stock valued at $265,018,000 after buying an additional 225,184 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.
Shares of Entergy Corporation (ETR) opened at 78.35 on Tuesday. The company’s market cap is $14.07 billion. Entergy Corporation has a 1-year low of $66.71 and a 1-year high of $81.83. The stock has a 50 day moving average price of $76.44 and a 200-day moving average price of $76.25.
Entergy Corporation (NYSE:ETR) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $1.91. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the firm posted $3.16 earnings per share. Equities research analysts forecast that Entergy Corporation will post $6.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Tuesday, August 8th. Entergy Corporation’s dividend payout ratio is presently -69.74%.
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Several equities analysts recently commented on ETR shares. ValuEngine upgraded Entergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Zacks Investment Research cut Entergy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Mizuho dropped their price target on Entergy Corporation from $79.00 to $76.00 and set a “neutral” rating for the company in a research note on Friday, April 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $78.00 price target on shares of Entergy Corporation in a research note on Thursday, July 6th. Finally, Morgan Stanley lifted their price target on Entergy Corporation from $77.00 to $78.00 and gave the stock an “underweight” rating in a research note on Monday, May 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $78.77.
In other news, insider Sallie T. Rainer sold 1,000 shares of Entergy Corporation stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $77.78, for a total transaction of $77,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Haley Fisackerly sold 500 shares of Entergy Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $77.17, for a total transaction of $38,585.00. The disclosure for this sale can be found here. Insiders have sold 2,495 shares of company stock valued at $192,363 in the last ninety days. Insiders own 0.24% of the company’s stock.
About Entergy Corporation
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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