Allianz Asset Management GmbH Sells 238,981 Shares of Entergy Corporation $ETR

Key Points

• Allianz Asset Management GmbH reduced its holdings in Entergy Corporation by 54.3%, selling 238,981 shares and leaving it with 201,179 shares valued at approximately $16.72 million.
• Entergy recently announced a quarterly dividend of $0.60 per share, which equates to an annualized dividend of $2.40 and a yield of 2.5%.
• Analyst ratings for Entergy have been generally positive, with twelve analysts giving it a "Buy" rating and a consensus price target of $97.57.

Allianz Asset Management GmbH decreased its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 54.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,179 shares of the utilities provider's stock after selling 238,981 shares during the period. Allianz Asset Management GmbH's holdings in Entergy were worth $16,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Choreo LLC grew its position in shares of Entergy by 12.3% during the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock valued at $816,000 after acquiring an additional 1,042 shares during the period. First American Trust FSB purchased a new stake in Entergy in the 1st quarter worth $3,896,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Entergy by 26.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider's stock worth $8,219,000 after buying an additional 19,862 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Entergy in the 1st quarter worth $32,658,000. Finally, Empowered Funds LLC increased its stake in Entergy by 369.8% in the 1st quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider's stock worth $7,352,000 after buying an additional 67,696 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

Entergy Stock Up 0.9%

ETR opened at $96.72 on Tuesday. The firm has a 50-day simple moving average of $91.16 and a two-hundred day simple moving average of $86.23. Entergy Corporation has a 52 week low of $66.75 and a 52 week high of $98.58. The company has a market capitalization of $43.18 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.41 and a beta of 0.62. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The business had revenue of $2.37 billion during the quarter. Analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, August 13th. Entergy's dividend payout ratio is currently 59.85%.

Analyst Ratings Changes

ETR has been the subject of a number of analyst reports. KeyCorp reiterated an "overweight" rating and issued a $106.00 price target (up previously from $96.00) on shares of Entergy in a research note on Wednesday, October 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Entergy in a research note on Wednesday, October 8th. Mizuho set a $97.00 price target on Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Bank of America increased their price target on Entergy from $88.00 to $97.00 and gave the stock a "neutral" rating in a research note on Thursday, October 16th. Finally, Scotiabank set a $105.00 price target on Entergy and gave the stock an "outperform" rating in a research note on Friday, October 3rd. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.57.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the sale, the insider directly owned 3,318 shares in the company, valued at approximately $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

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.

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