First Mercantile Trust Co. decreased its stake in shares of Entergy Corp. (NYSE:ETR) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,500 shares of the company’s stock after selling 400 shares during the period. First Mercantile Trust Co.’s holdings in Entergy Corp. were worth $729,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Iowa State Bank purchased a new position in shares of Entergy Corp. during the second quarter valued at about $103,000. Washington Trust Bank raised its position in shares of Entergy Corp. by 2.8% in the third quarter. Washington Trust Bank now owns 1,991 shares of the company’s stock valued at $153,000 after buying an additional 55 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Entergy Corp. by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,928 shares of the company’s stock valued at $157,000 after buying an additional 797 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of Entergy Corp. by 75.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,345 shares of the company’s stock valued at $191,000 after buying an additional 1,009 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Entergy Corp. by 20.0% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,400 shares of the company’s stock valued at $195,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 85.38% of the company’s stock.
Entergy Corp. (NYSE:ETR) traded up 2.07% on Friday, reaching $69.53. The company’s stock had a trading volume of 740,274 shares. Entergy Corp. has a 12 month low of $64.18 and a 12 month high of $82.09. The firm’s 50 day moving average is $71.47 and its 200-day moving average is $76.76. The firm has a market cap of $12.45 billion, a P/E ratio of 9.71 and a beta of 0.40.
Entergy Corp. (NYSE:ETR) last released its quarterly earnings results on Tuesday, October 25th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.35. Entergy Corp. had a net margin of 12.20% and a return on equity of 15.70%. During the same period in the prior year, the business earned $1.90 earnings per share. On average, equities research analysts anticipate that Entergy Corp. will post $6.90 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.01%. This is an increase from Entergy Corp.’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, November 8th. Entergy Corp.’s payout ratio is presently 48.60%.
Several equities research analysts have recently weighed in on the company. Jefferies Group lowered their price objective on Entergy Corp. from $85.50 to $74.00 and set a “hold” rating on the stock in a research note on Wednesday, October 26th. Zacks Investment Research lowered Entergy Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, October 27th. Morgan Stanley lowered Entergy Corp. from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $78.00 to $68.00 in a research note on Thursday, October 27th. Wolfe Research lowered Entergy Corp. from a “market perform” rating to an “underperform” rating in a research note on Monday, October 24th. Finally, Citigroup Inc. lowered their price objective on Entergy Corp. from $83.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 4th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Entergy Corp. currently has a consensus rating of “Hold” and an average price target of $77.80.
Entergy Corp. 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. It 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.