Citigroup Inc. Has $32.26 Million Stake in Entergy Corporation (NYSE:ETR)

Key Points

• Citigroup Inc. increased its stake in Entergy Corporation by 60.3%, owning 377,335 shares worth approximately $32.26 million following additional acquisitions during the first quarter.
• Wall Street analysts have mixed views on Entergy, with target prices ranging from $81.00 to $97.00, and an overall consensus rating of "Moderate Buy."
• Entergy announced a quarterly dividend of $0.60 per share, with an annualized yield of 2.7%, reflecting a dividend payout ratio of 59.85%.

Citigroup Inc. increased its position in Entergy Corporation (NYSE:ETR - Free Report) by 60.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 377,335 shares of the utilities provider's stock after acquiring an additional 142,013 shares during the quarter. Citigroup Inc. owned about 0.09% of Entergy worth $32,258,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in Entergy in the 1st quarter worth $28,000. Grove Bank & Trust increased its holdings in shares of Entergy by 188.5% during the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock worth $30,000 after purchasing an additional 230 shares during the period. Glen Eagle Advisors LLC increased its holdings in shares of Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares during the period. Wayfinding Financial LLC bought a new position in shares of Entergy during the 1st quarter worth about $32,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Entergy during the 4th quarter worth about $30,000. Institutional investors own 88.07% of the company's stock.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the transaction, the insider owned 3,318 shares in the company, valued at approximately $300,279. The trade was a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.39% of the company's stock.

Entergy Price Performance

Shares of Entergy stock traded up $0.06 during trading on Wednesday, hitting $90.95. 1,789,830 shares of the company's stock traded hands, compared to its average volume of 2,804,948. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The firm's fifty day moving average price is $84.84 and its 200 day moving average price is $83.66. Entergy Corporation has a twelve month low of $58.19 and a twelve month high of $92.40. The company has a market cap of $40.60 billion, a PE ratio of 22.65, a PEG ratio of 2.47 and a beta of 0.57.

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

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Entergy's payout ratio is 59.85%.

Wall Street Analysts Forecast Growth

ETR has been the topic of several research reports. Mizuho set a $97.00 price objective on shares of Entergy and gave the stock an "outperform" rating in a report on Thursday, July 31st. Morgan Stanley dropped their price objective on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Barclays dropped their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Finally, BMO Capital Markets boosted their price objective on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.07.

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.