Cullen Frost Bankers Inc. Buys 12,848 Shares of Entergy Corporation $ETR

Cullen Frost Bankers Inc. boosted its stake in Entergy Corporation (NYSE:ETR) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,308 shares of the utilities provider’s stock after acquiring an additional 12,848 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Entergy were worth $28,369,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Choreo LLC lifted its position in Entergy by 12.3% in the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider’s stock valued at $816,000 after acquiring an additional 1,042 shares in the last quarter. First American Trust FSB bought a new stake in shares of Entergy in the 1st quarter valued at about $3,896,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Entergy in the 1st quarter valued at about $32,658,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Entergy by 26.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider’s stock valued at $8,219,000 after purchasing an additional 19,862 shares during the period. Finally, Empowered Funds LLC grew its stake in Entergy by 369.8% in the 1st quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider’s stock valued at $7,352,000 after buying an additional 67,696 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the 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 completion of the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

Entergy Trading Down 1.1%

ETR opened at $95.65 on Wednesday. Entergy Corporation has a twelve month low of $66.75 and a twelve month high of $98.58. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The company has a fifty day moving average of $91.25 and a 200-day moving average of $86.29. The stock has a market cap of $42.70 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 2.44 and a beta of 0.62.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The company had revenue of $2.37 billion during the quarter. On average, sell-side analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Morgan Stanley cut their price target on shares of Entergy from $86.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Scotiabank set a $105.00 price target on shares of Entergy and gave the stock an “outperform” rating in a report on Friday, October 3rd. Bank of America increased their price objective on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $104.00 price objective (up previously from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.47.

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.