Entergy Co. (NYSE:ETR) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC increased its holdings in shares of Entergy Co. (NYSE:ETR) by 24.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,012,083 shares of the utilities provider’s stock after buying an additional 198,391 shares during the period. Jennison Associates LLC’s holdings in Entergy were worth $133,200,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. OneDigital Investment Advisors LLC increased its holdings in shares of Entergy by 2.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 69 shares in the last quarter. Bank & Trust Co lifted its position in shares of Entergy by 12.8% during the third quarter. Bank & Trust Co now owns 795 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 90 shares in the last quarter. Prossimo Advisors LLC increased its stake in shares of Entergy by 1.5% in the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock worth $786,000 after buying an additional 90 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in Entergy by 2.3% during the second quarter. HBK Sorce Advisory LLC now owns 4,075 shares of the utilities provider’s stock valued at $436,000 after purchasing an additional 92 shares during the last quarter. Finally, Alliance Wealth Advisors LLC boosted its holdings in shares of Entergy by 3.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,591 shares of the utilities provider’s stock valued at $341,000 after acquiring an additional 92 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,134 shares of Entergy stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $149.03, for a total value of $616,090.02. Following the completion of the sale, the insider now directly owns 2,016 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the transaction, the insider now directly owns 5,117 shares of the company’s stock, valued at $614,040. The trade was a 50.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,472 shares of company stock worth $5,076,328. Insiders own 0.54% of the company’s stock.

Entergy Stock Up 0.4 %

Shares of NYSE ETR opened at $149.83 on Wednesday. The business’s fifty day moving average price is $136.12 and its 200-day moving average price is $120.78. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy Co. has a one year low of $96.15 and a one year high of $156.85. The stock has a market capitalization of $32.13 billion, a PE ratio of 18.25, a P/E/G ratio of 2.49 and a beta of 0.71.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the company posted $3.27 earnings per share. On average, equities research analysts anticipate that Entergy Co. will post 7.21 EPS for the current year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This is a boost from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Wednesday, November 13th. Entergy’s payout ratio is currently 58.47%.

Wall Street Analysts Forecast Growth

ETR has been the subject of several research reports. Guggenheim increased their price objective on Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America cut Entergy from a “buy” rating to a “neutral” rating and lifted their target price for the company from $138.00 to $154.00 in a research report on Monday, November 4th. Scotiabank boosted their target price on Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $116.00 to $150.00 in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.42.

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.