Mitsubishi UFJ Asset Management Co. Ltd. Buys 47,302 Shares of Entergy Corporation (NYSE:ETR)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its holdings in Entergy Corporation by 6.7%, now owning approximately 751,660 shares valued at $64.3 million.
• Entergy's recent earnings report revealed an EPS of $1.05, surpassing estimates, despite revenue falling short of analyst expectations.
• The company announced a quarterly dividend of $0.60 per share, set to be paid on September 2nd, with an annualized dividend yield of 2.7%.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 751,660 shares of the utilities provider's stock after acquiring an additional 47,302 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.17% of Entergy worth $64,259,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bank of America Corp DE raised its holdings in Entergy by 142.8% during the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after buying an additional 10,347,926 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after purchasing an additional 5,368,396 shares during the period. Capital International Investors raised its position in shares of Entergy by 103.6% in the fourth quarter. Capital International Investors now owns 7,773,654 shares of the utilities provider's stock valued at $589,389,000 after purchasing an additional 3,956,122 shares during the period. Millennium Management LLC boosted its holdings in shares of Entergy by 474.0% during the 4th quarter. Millennium Management LLC now owns 3,876,985 shares of the utilities provider's stock worth $293,953,000 after buying an additional 3,201,530 shares during the period. Finally, TD Asset Management Inc grew its stake in Entergy by 964.8% in the 1st quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider's stock valued at $261,232,000 after buying an additional 2,768,734 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Entergy Price Performance

ETR traded down $0.37 during trading on Monday, hitting $90.11. The company's stock had a trading volume of 1,916,401 shares, compared to its average volume of 2,903,876. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $40.22 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57. The firm's 50 day moving average price is $84.36 and its two-hundred day moving average price is $83.50. Entergy Corporation has a 12 month low of $58.17 and a 12 month high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.14. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate 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 prior year, the company earned $1.92 EPS. Sell-side analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal 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 paid 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%.

Wall Street Analyst Weigh In

Several brokerages have commented on ETR. JPMorgan Chase & Co. lifted their price target on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Morgan Stanley decreased their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. KeyCorp restated an "overweight" rating and issued a $96.00 target price (up from $88.00) on shares of Entergy in a research note 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. Finally, Barclays dropped their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Six investment analysts have rated the stock with a hold rating, ten have issued 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 a consensus target price of $88.07.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, the insider owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.47% of the company's stock.

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.