Entergy Corporation (NYSE:ETR) Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its holdings in shares of Entergy Corporation (NYSE:ETR) by 44.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 435,052 shares of the utilities provider’s stock after buying an additional 133,039 shares during the quarter. Allianz Asset Management GmbH’s holdings in Entergy were worth $32,986,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in Entergy by 21.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 986,546 shares of the utilities provider’s stock valued at $129,840,000 after buying an additional 174,093 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Entergy by 40.7% in the third quarter. Empowered Funds LLC now owns 18,597 shares of the utilities provider’s stock valued at $2,448,000 after acquiring an additional 5,381 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Entergy by 4.0% during the third quarter. Principal Financial Group Inc. now owns 280,262 shares of the utilities provider’s stock valued at $36,885,000 after acquiring an additional 10,697 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Entergy during the 4th quarter worth about $4,393,000. Finally, Flagship Harbor Advisors LLC raised its stake in Entergy by 74.3% in the 4th quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider’s stock valued at $603,000 after purchasing an additional 3,393 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on ETR shares. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and raised their price target for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. UBS Group lifted their target price on shares of Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price target on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Finally, Barclays upped their target price on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.14.

Insider Buying and Selling

In other news, insider Deanna D. Rodriguez sold 6,088 shares of Entergy stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, the insider now owns 3,952 shares in the company, valued at $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Entergy Trading Down 1.1 %

Shares of ETR stock opened at $84.94 on Monday. Entergy Corporation has a fifty-two week low of $49.80 and a fifty-two week high of $88.38. The firm’s 50 day moving average price is $79.45 and its two-hundred day moving average price is $71.67. The stock has a market cap of $36.56 billion, a price-to-earnings ratio of 34.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the business posted $0.26 EPS. On average, analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.60 dividend. The ex-dividend date is Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. Entergy’s dividend payout ratio (DPR) is currently 98.56%.

About Entergy

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.