Chevy Chase Trust Holdings LLC Has $19.61 Million Stake in Entergy Corporation $ETR

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in Entergy Corporation by 4.8% in Q2, owning 235,951 shares valued at approximately $19.61 million.
• Several other institutional investors have also adjusted their positions in Entergy, with 88.07% of the stock now owned by such investors.
• Entergy announced a quarterly dividend of $0.60, resulting in an annualized yield of 2.5%, as per the disclosure on September 2nd.

Chevy Chase Trust Holdings LLC raised its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 235,951 shares of the utilities provider's stock after acquiring an additional 10,858 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Entergy worth $19,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arista Wealth Management LLC acquired a new position in Entergy in the second quarter valued at about $714,000. Stratos Wealth Partners LTD. grew its stake in Entergy by 7.5% in the second quarter. Stratos Wealth Partners LTD. now owns 14,110 shares of the utilities provider's stock valued at $1,173,000 after acquiring an additional 981 shares during the period. Private Trust Co. NA grew its stake in Entergy by 12.4% in the second quarter. Private Trust Co. NA now owns 5,174 shares of the utilities provider's stock valued at $430,000 after acquiring an additional 569 shares during the period. Turtle Creek Wealth Advisors LLC boosted its position in shares of Entergy by 6.5% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 77,970 shares of the utilities provider's stock worth $6,481,000 after buying an additional 4,779 shares during the period. Finally, Mutual Advisors LLC acquired a new position in shares of Entergy during the second quarter worth about $312,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 completion of the sale, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Entergy in a report on Wednesday, October 8th. KeyCorp reiterated an "overweight" rating and set a $106.00 price objective (up from $96.00) on shares of Entergy in a report on Wednesday. Jefferies Financial Group assumed coverage on Entergy in a report on Thursday, September 4th. They set a "buy" rating and a $109.00 price objective for the company. Evercore ISI set a $98.00 price objective on Entergy and gave the stock an "in-line" rating in a report on Monday, October 6th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $104.00 price objective (up from $96.00) on shares of Entergy in a report on Tuesday. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Entergy presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.57.

Entergy Stock Performance

Shares of NYSE ETR opened at $95.80 on Friday. The stock has a 50 day moving average price of $91.02 and a 200 day moving average price of $86.09. Entergy Corporation has a 52 week low of $66.75 and a 52 week high of $98.58. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. The stock has a market capitalization of $42.77 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.61 and a beta of 0.62.

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

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is presently 59.85%.

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.

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