Resona Asset Management Co. Ltd. Has $11.37 Million Stake in Entergy Corporation $ETR

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Entergy Corporation by 3.7%, now holding 133,296 shares valued at $11.37 million as of the latest SEC filing.
• Wall Street analysts have mixed opinions on Entergy, with a consensus rating of "Moderate Buy" and price targets ranging from $81 to $97.
• Entergy recently declared a quarterly dividend of $0.60, offering an annualized yield of 2.6%, with a payout ratio of 59.85%.

Resona Asset Management Co. Ltd. lifted its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 133,296 shares of the utilities provider's stock after purchasing an additional 4,743 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Entergy were worth $11,374,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Entergy by 275.6% in the 4th quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider's stock valued at $696,000 after buying an additional 6,733 shares during the period. Sagespring Wealth Partners LLC acquired a new position in Entergy in the fourth quarter valued at approximately $413,000. Advisors Capital Management LLC bought a new position in shares of Entergy during the fourth quarter valued at approximately $217,000. Synovus Financial Corp raised its position in shares of Entergy by 167.8% during the 4th quarter. Synovus Financial Corp now owns 11,432 shares of the utilities provider's stock worth $867,000 after purchasing an additional 7,163 shares during the period. Finally, Summit Investment Advisors Inc. raised its position in shares of Entergy by 85.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,178 shares of the utilities provider's stock worth $317,000 after purchasing an additional 1,931 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on ETR. JPMorgan Chase & Co. increased their target price on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Barclays cut their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Morgan Stanley decreased their target price on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. KeyCorp reaffirmed an "overweight" rating and set a $96.00 price target (up previously from $88.00) on shares of Entergy in a report on Thursday, July 31st. Finally, BMO Capital Markets boosted their price objective on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.07.

Entergy Price Performance

Entergy stock traded down $1.49 during mid-day trading on Monday, hitting $87.64. The company's stock had a trading volume of 709,691 shares, compared to its average volume of 3,555,910. The stock has a market capitalization of $39.12 billion, a P/E ratio of 21.83, a P/E/G ratio of 2.42 and a beta of 0.57. Entergy Corporation has a twelve month low of $58.79 and a twelve month high of $92.40. The stock's fifty day moving average price is $85.15 and its two-hundred day moving average price is $83.87. 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 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. Entergy had a return on equity of 11.52% and a net margin of 14.35%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. Research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

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 given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is 59.85%.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction 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 owned 3,318 shares in the company, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by company insiders.

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.