Chicago Partners Investment Group LLC lifted its position in Entergy Co. (NYSE:ETR) by 90.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 23,604 shares of the utilities provider’s stock after purchasing an additional 11,204 shares during the period. Chicago Partners Investment Group LLC’s holdings in Entergy were worth $1,802,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC boosted its holdings in Entergy by 2.1% in the second quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock valued at $179,000 after acquiring an additional 49 shares in the last quarter. Krilogy Financial LLC raised its position in shares of Entergy by 1,116.0% in the 3rd quarter. Krilogy Financial LLC now owns 2,432 shares of the utilities provider’s stock worth $186,000 after purchasing an additional 2,232 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Entergy by 3.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,448 shares of the utilities provider’s stock worth $188,000 after purchasing an additional 71 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of Entergy in the 2nd quarter worth about $204,000. Finally, Buckingham Asset Management LLC purchased a new position in shares of Entergy in the 3rd quarter worth about $212,000. Hedge funds and other institutional investors own 82.81% of the company’s stock.
In other news, EVP Marcus V. Brown sold 3,000 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $86.42, for a total transaction of $259,260.00. Following the transaction, the executive vice president now owns 22,264 shares of the company’s stock, valued at approximately $1,924,054.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sallie T. Rainer sold 6,300 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $82.00, for a total value of $516,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 57,812 shares of company stock worth $4,907,522 in the last three months. Corporate insiders own 0.24% of the company’s stock.
Entergy (NYSE:ETR) last released its earnings results on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.11. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $2.31 earnings per share. equities research analysts forecast that Entergy Co. will post 6.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 9th were given a dividend of $0.89 per share. This is an increase from Entergy’s previous quarterly dividend of $0.87. The ex-dividend date was Wednesday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.37%. Entergy’s dividend payout ratio is presently -72.06%.
A number of research firms have issued reports on ETR. JPMorgan Chase & Co. boosted their price target on Entergy from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. Bank of America started coverage on Entergy in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $86.00 price target for the company. Wells Fargo & Co reaffirmed an “outperform” rating and set a $96.00 price objective (up from $90.00) on shares of Entergy in a report on Wednesday, October 25th. Morgan Stanley increased their price target on Entergy from $82.00 to $84.00 and gave the company an “underweight” rating in a report on Friday, September 8th. Finally, TheStreet upgraded Entergy from a “c” rating to a “b-” rating in a research note on Friday, October 27th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Entergy currently has an average rating of “Buy” and an average price target of $83.17.
Entergy Company Profile
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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