Deutsche Bank AG Sells 77,125 Shares of Entergy Corporation (NYSE:ETR)

Key Points

• Deutsche Bank AG reduced its stake in Entergy Corporation by 5.3% in the first quarter, selling 77,125 shares and retaining a total of 1,367,375 shares valued at approximately $116.9 million.
• Several institutional investors, including Choreo LLC and Cambridge Investment Research Advisors Inc., have increased their stakes in Entergy during the same period, underscoring strong institutional interest in the stock.
• Entergy recently announced a quarterly dividend of $0.60 per share, translating to an annual yield of 2.7%, with a dividend payout ratio of 59.85%.

Deutsche Bank AG decreased its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,367,375 shares of the utilities provider's stock after selling 77,125 shares during the period. Deutsche Bank AG owned approximately 0.32% of Entergy worth $116,897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Choreo LLC lifted its position in shares of Entergy by 12.3% in the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock worth $816,000 after purchasing an additional 1,042 shares during the period. J.W. Cole Advisors Inc. bought a new stake in shares of Entergy in the 1st quarter worth approximately $1,073,000. Cambridge Investment Research Advisors Inc. raised its position in Entergy by 25.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider's stock worth $6,708,000 after purchasing an additional 15,892 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of Entergy by 85.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,178 shares of the utilities provider's stock valued at $317,000 after buying an additional 1,931 shares during the last quarter. Finally, Wedbush Securities Inc. purchased a new position in shares of Entergy in the first quarter worth about $216,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Down 0.5%

Entergy stock traded down $0.45 during mid-day trading on Thursday, hitting $90.53. 1,050,531 shares of the company's stock were exchanged, compared to its average volume of 3,561,815. The stock has a market cap of $40.41 billion, a P/E ratio of 22.55, a P/E/G ratio of 2.47 and a beta of 0.57. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The stock has a 50 day moving average of $84.84 and a two-hundred day moving average of $83.66. Entergy Corporation has a 1-year low of $58.22 and a 1-year high of $92.40.

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

Entergy Announces Dividend

The business also recently declared 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 of this dividend is Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. Entergy's dividend payout ratio is 59.85%.

Analysts Set New Price Targets

ETR has been the subject of a number of recent analyst reports. Mizuho set a $97.00 price target on Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial assumed coverage on shares of Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. Morgan Stanley decreased their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Barclays cut their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Finally, KeyCorp restated an "overweight" rating and issued a $96.00 price target (up previously from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.07.

Insider Buying and Selling at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the company's 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 sale, the insider owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by corporate insiders.

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.