Connor Clark & Lunn Investment Management Ltd. Reduces Position in Entergy Corporation $ETR

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Entergy Corporation (NYSE:ETR) by 44.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,879 shares of the utilities provider’s stock after selling 49,528 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Entergy were worth $5,143,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mattson Financial Services LLC grew 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 valued at $26,000 after acquiring an additional 150 shares during the last quarter. Atwood & Palmer Inc. boosted its stake in shares of Entergy by 135.7% during the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Entergy in the first quarter worth about $28,000. GoalVest Advisory LLC increased its stake in Entergy by 5,733.3% in the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock worth $29,000 after buying an additional 344 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in Entergy in the 2nd quarter worth about $30,000. 88.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Morgan Stanley set a $93.00 price objective on Entergy and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Barclays set a $100.00 target price on shares of Entergy and gave the company an “overweight” rating in a research report on Monday, October 6th. Jefferies Financial Group started coverage on Entergy in a research note on Thursday, September 4th. They set a “buy” rating and a $109.00 price target on the stock. Mizuho upped their target price on Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Finally, Royal Bank Of Canada raised Entergy to a “moderate buy” rating in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and a consensus price target of $102.37.

Insider Buying and Selling at Entergy

In other news, Director Ralph Lewis Ropp bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $96.69 per share, for a total transaction of $96,690.00. Following the purchase, the director directly owned 1,050 shares in the company, valued at approximately $101,524.50. This trade represents a 2,000.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 5,136 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total transaction of $495,624.00. Following the sale, the insider directly owned 7,899 shares in the company, valued at $762,253.50. This trade represents a 39.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 10,179 shares of company stock valued at $981,707. 0.47% of the stock is owned by company insiders.

Entergy Trading Down 2.2%

Shares of Entergy stock opened at $94.43 on Friday. The stock has a market cap of $42.17 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 2.40 and a beta of 0.63. The firm has a fifty day moving average price of $93.75 and a 200 day moving average price of $87.99. Entergy Corporation has a 1 year low of $73.15 and a 1 year high of $98.58. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.52.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. The company had revenue of $2.37 billion for the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%. Equities research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be given a dividend of $0.64 per share. This is an increase from Entergy’s previous quarterly dividend of $0.60. This represents a $2.56 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, November 13th. Entergy’s dividend payout ratio (DPR) is 63.21%.

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.