Cypress Capital Group Has $394,000 Holdings in Entergy Corporation $ETR

Cypress Capital Group cut its stake in shares of Entergy Corporation (NYSE:ETR) by 8.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,737 shares of the utilities provider’s stock after selling 435 shares during the quarter. Cypress Capital Group’s holdings in Entergy were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Evercore ISI set a $98.00 price target on shares of Entergy and gave the company an “in-line” rating in a research report on Monday, October 6th. Mizuho set a $97.00 price target on shares of Entergy and gave the company an “outperform” rating in a research report on Thursday, July 31st. Barclays set a $100.00 price target on shares of Entergy and gave the company an “overweight” rating in a research report on Monday, October 6th. Finally, Jefferies Financial Group started coverage on shares of Entergy in a research report on Thursday, September 4th. They issued a “buy” rating and a $109.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $94.64.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the sale, the insider owned 3,318 shares of the company’s stock, valued at approximately $300,279. The trade was a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is owned by company insiders.

Entergy Stock Performance

Shares of NYSE:ETR opened at $95.70 on Tuesday. The company’s 50 day simple moving average is $90.53 and its 200 day simple moving average is $85.80. The stock has a market capitalization of $42.72 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 2.59 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. Entergy Corporation has a 1 year low of $65.30 and a 1 year high of $98.58.

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

Entergy Announces Dividend

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

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.