Sumitomo Mitsui DS Asset Management Company Ltd Purchases 2,897 Shares of Entergy Co. (NYSE:ETR)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Entergy Co. (NYSE:ETR) by 16.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,676 shares of the utilities provider’s stock after buying an additional 2,897 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Entergy were worth $2,092,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC raised its holdings in Entergy by 1.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 7,945 shares of the utilities provider’s stock valued at $804,000 after buying an additional 131 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Entergy by 167.6% during the 4th quarter. Lindbrook Capital LLC now owns 685 shares of the utilities provider’s stock valued at $69,000 after buying an additional 429 shares during the last quarter. abrdn plc increased its position in Entergy by 84.2% during the 4th quarter. abrdn plc now owns 113,251 shares of the utilities provider’s stock valued at $11,460,000 after purchasing an additional 51,776 shares during the period. Greenleaf Trust increased its position in Entergy by 15.2% during the 4th quarter. Greenleaf Trust now owns 4,937 shares of the utilities provider’s stock valued at $500,000 after purchasing an additional 650 shares during the period. Finally, Knights of Columbus Asset Advisors LLC increased its position in Entergy by 3.7% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 50,733 shares of the utilities provider’s stock valued at $5,134,000 after purchasing an additional 1,817 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Performance

Shares of ETR stock opened at $106.46 on Thursday. Entergy Co. has a one year low of $87.10 and a one year high of $109.53. The company’s 50-day moving average is $103.13 and its 200 day moving average is $100.53. The company has a market capitalization of $22.70 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 2.12 and a beta of 0.71. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.32 and a current ratio of 0.57.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a net margin of 19.41% and a return on equity of 10.54%. The firm had revenue of $31.17 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts expect that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 4.25%. The ex-dividend date is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is 40.76%.

Analyst Ratings Changes

A number of research analysts have issued reports on ETR shares. Royal Bank of Canada reissued an “outperform” rating and set a $117.00 price objective on shares of Entergy in a research report on Monday, February 26th. Scotiabank reduced their price objective on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research report on Monday. KeyCorp boosted their price objective on shares of Entergy from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. BMO Capital Markets boosted their price objective on shares of Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Finally, Barclays reduced their price objective on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.45.

Insider Activity at Entergy

In related news, insider Deanna D. Rodriguez sold 1,500 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the sale, the insider now directly owns 3,442 shares of the company’s stock, valued at approximately $348,433.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Entergy news, insider Deanna D. Rodriguez sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $101.23, for a total transaction of $151,845.00. Following the transaction, the insider now owns 3,442 shares in the company, valued at approximately $348,433.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $100.35, for a total transaction of $200,700.00. Following the transaction, the executive vice president now owns 16,037 shares in the company, valued at approximately $1,609,312.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,000 shares of company stock valued at $1,226,685. 0.39% of the stock is owned by insiders.

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.