Zions Bancorporation National Association UT Takes $4.76 Million Position in Entergy Corporation (NYSE:ETR)

Key Points

• Zions Bancorporation National Association UT has acquired 55,620 shares of Entergy Corporation, valued at approximately $4.75 million, marking a significant investment in the utilities provider.
• Analysts have issued varying ratings for Entergy, with BMO Capital Markets raising its target price to $93.00, while Morgan Stanley lowered it to $81.00, resulting in a consensus rating of "Moderate Buy."
• Entergy Corporation recently announced a quarterly dividend of $0.60 per share, with a dividend yield of 2.7% and a payout ratio of 59.85%.

Zions Bancorporation National Association UT bought a new stake in Entergy Corporation (NYSE:ETR - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 55,620 shares of the utilities provider's stock, valued at approximately $4,755,000.

A number of other large investors have also recently modified their holdings of ETR. Brighton Jones LLC boosted its holdings in shares of Entergy by 275.6% during the 4th quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider's stock valued at $696,000 after acquiring an additional 6,733 shares in the last quarter. Aviva PLC boosted its holdings in shares of Entergy by 100.0% during the 4th quarter. Aviva PLC now owns 6,720 shares of the utilities provider's stock valued at $510,000 after acquiring an additional 3,360 shares in the last quarter. Bank of Nova Scotia lifted its holdings in Entergy by 126.8% during the 4th quarter. Bank of Nova Scotia now owns 62,017 shares of the utilities provider's stock worth $4,702,000 after buying an additional 34,668 shares during the period. Renaissance Technologies LLC acquired a new position in Entergy during the 4th quarter worth about $13,554,000. Finally, Advisory Services Network LLC lifted its holdings in Entergy by 266.0% during the 4th quarter. Advisory Services Network LLC now owns 29,040 shares of the utilities provider's stock worth $2,202,000 after buying an additional 21,106 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Buying and Selling

In other news, insider Haley Fisackerly sold 4,463 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, the insider owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.47% of the company's stock.

Entergy Stock Down 0.1%

Entergy stock traded down $0.09 during midday trading on Friday, reaching $90.44. The stock had a trading volume of 1,627,361 shares, compared to its average volume of 2,903,876. Entergy Corporation has a 12 month low of $57.65 and a 12 month high of $92.40. The company has a market capitalization of $40.37 billion, a P/E ratio of 22.53, a PEG ratio of 2.46 and a beta of 0.57. The company has a fifty day moving average price of $84.36 and a two-hundred day moving average price of $83.50. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.14. Entergy had a return on equity of 11.52% and a net margin of 14.35%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the company posted $1.92 EPS. As a group, equities analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's payout ratio is currently 59.85%.

Wall Street Analyst Weigh In

ETR has been the topic of several recent research reports. Barclays cut their target price on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. JPMorgan Chase & Co. lifted their target price on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Raymond James Financial initiated coverage on Entergy in a report on Friday, June 13th. They set a "market perform" rating on the stock. KeyCorp reaffirmed an "overweight" rating and set a $96.00 target price (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. Finally, Mizuho set a $97.00 price objective on Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.07.

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.