Allianz Asset Management GmbH Decreases Holdings in Entergy Corporation $ETR

Allianz Asset Management GmbH reduced its position in Entergy Corporation (NYSE:ETR) by 54.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 201,179 shares of the utilities provider’s stock after selling 238,981 shares during the quarter. Allianz Asset Management GmbH’s holdings in Entergy were worth $16,722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ETR. Mattson Financial Services LLC raised its position in Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 150 shares during the period. Atwood & Palmer Inc. raised its position in Entergy by 135.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 190 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Entergy in the 1st quarter worth about $28,000. Wayfinding Financial LLC purchased a new stake in Entergy in the 1st quarter worth about $32,000. Finally, Wellington Shields & Co. LLC purchased a new stake in Entergy in the 1st quarter worth about $34,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Price Performance

NYSE ETR opened at $96.72 on Tuesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. The firm’s 50 day moving average price is $91.16 and its 200-day moving average price is $86.23. Entergy Corporation has a 52-week low of $66.75 and a 52-week high of $98.58. The company has a market cap of $43.18 billion, a PE ratio of 24.09, a P/E/G ratio of 2.41 and a beta of 0.62.

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

Entergy Announces Dividend

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

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 3,318 shares in the company, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp reissued an “overweight” rating and issued a $106.00 price objective (up from $96.00) on shares of Entergy in a research report on Wednesday, October 15th. JPMorgan Chase & Co. raised their target price 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. Morgan Stanley reduced their target price on shares of Entergy from $86.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Entergy in a research report on Wednesday, October 8th. Finally, Mizuho set a $97.00 target price on shares of Entergy and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.57.

Entergy 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.