Zions Bancorporation National Association UT Cuts Stake in Entergy Corporation $ETR

Zions Bancorporation National Association UT trimmed its holdings in shares of Entergy Corporation (NYSE:ETR) by 98.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,068 shares of the utilities provider’s stock after selling 54,552 shares during the period. Zions Bancorporation National Association UT’s holdings in Entergy were worth $89,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ETR. Midwest Trust Co bought a new stake in Entergy during the 2nd quarter valued at $21,926,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Entergy by 11.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 838,561 shares of the utilities provider’s stock worth $69,701,000 after acquiring an additional 86,901 shares in the last quarter. Magellan Asset Management Ltd lifted its stake in shares of Entergy by 3.7% during the 2nd quarter. Magellan Asset Management Ltd now owns 301,351 shares of the utilities provider’s stock worth $25,048,000 after purchasing an additional 10,755 shares during the last quarter. Aviva PLC boosted its position in Entergy by 304.3% during the second quarter. Aviva PLC now owns 323,854 shares of the utilities provider’s stock valued at $26,919,000 after purchasing an additional 243,745 shares in the last quarter. Finally, RWA Wealth Partners LLC boosted its position in Entergy by 3.5% during the second quarter. RWA Wealth Partners LLC now owns 6,175 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ETR shares. Scotiabank set a $105.00 price target on shares of Entergy and gave the company an “outperform” rating in a research report on Friday, October 3rd. Bank of America boosted their price objective on shares of Entergy from $88.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Morgan Stanley set a $93.00 target price on shares of Entergy and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Royal Bank Of Canada upgraded shares of Entergy to a “moderate buy” rating in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group initiated coverage on shares of Entergy in a report on Thursday, September 4th. They issued a “buy” rating and a $109.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.37.

Insiders Place Their Bets

In other news, insider Anastasia Minor sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the sale, the insider directly owned 10,122 shares in the company, valued at $975,659.58. This trade represents a 33.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Haley Fisackerly sold 5,136 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total value of $495,624.00. Following the completion of the sale, the insider directly owned 7,899 shares in the company, valued at approximately $762,253.50. The trade was a 39.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,179 shares of company stock worth $981,707 over the last three months. 0.47% of the stock is currently owned by insiders.

Entergy Stock Down 0.2%

Entergy stock opened at $96.89 on Wednesday. The business’s 50-day simple moving average is $93.43 and its two-hundred day simple moving average is $87.88. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71. The company has a market cap of $43.27 billion, a PE ratio of 23.92, a PEG ratio of 2.40 and a beta of 0.63. Entergy Corporation has a fifty-two week low of $73.15 and a fifty-two week high of $98.58.

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

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be paid a $0.64 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.56 annualized dividend and a dividend yield of 2.6%. This is an increase from Entergy’s previous quarterly dividend of $0.60. Entergy’s dividend payout ratio (DPR) is presently 63.21%.

Entergy Company 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.