Entergy Corporation $ETR Stock Position Lifted by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Entergy Corporation by 12.6%, holding 3,442,042 shares worth approximately $286 million.
• JPMorgan Chase & Co. raised its price target for Entergy shares from $102 to $103, maintaining an "overweight" rating, while other analysts have set varying price targets ranging from $85 to $105.
• Entergy recently declared a $0.60 quarterly dividend, amounting to $2.40 annually, with a yield of 2.5% and a payout ratio of 59.85%.

TD Asset Management Inc boosted its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 12.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,442,042 shares of the utilities provider's stock after purchasing an additional 386,344 shares during the period. TD Asset Management Inc owned about 0.80% of Entergy worth $286,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. My Legacy Advisors LLC grew its position in Entergy by 0.8% during the second quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider's stock valued at $1,361,000 after purchasing an additional 128 shares in the last quarter. Acropolis Investment Management LLC grew its position in Entergy by 0.7% in the first quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock worth $1,535,000 after acquiring an additional 129 shares in the last quarter. Mattson Financial Services LLC increased its stake in shares of Entergy by 100.0% during the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Entergy by 18.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock worth $90,000 after purchasing an additional 165 shares during the last quarter. Finally, Horizon Investments LLC increased its stake in shares of Entergy by 1.8% during the 1st quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider's stock worth $854,000 after purchasing an additional 176 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction 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. This represents a 57.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ETR shares. JPMorgan Chase & Co. increased their price target on shares of Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. KeyCorp restated an "overweight" rating and set a $96.00 price target (up previously from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Evercore ISI set a $98.00 price target on shares of Entergy and gave the stock an "in-line" rating in a research note on Monday, October 6th. Morgan Stanley dropped their price target on shares of Entergy from $86.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Finally, Scotiabank set a $105.00 price target on shares of Entergy and gave the stock an "outperform" rating in a research note on Friday, October 3rd. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.64.

Entergy Price Performance

NYSE ETR opened at $95.70 on Tuesday. 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 company has a fifty day simple moving average of $90.53 and a 200 day simple moving average of $85.80. The company has a market cap of $42.72 billion, a P/E ratio of 23.83, a P/E/G ratio of 2.59 and a beta of 0.62. Entergy Corporation has a 1 year low of $65.30 and a 1 year high of $98.58.

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

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. Entergy's dividend payout ratio is 59.85%.

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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