Entergy Corporation (NYSE:ETR) Shares Purchased by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. increased its stake in Entergy Corporation by 30.6% during Q1, owning 116,996 shares valued at $10 million.
• Wall Street analysts have mixed ratings on Entergy, with an average rating of "Moderate Buy" and a consensus target price of $88.07.
• Entergy announced a quarterly dividend of $0.60 per share, representing an annualized yield of 2.6%, set to be paid on September 2nd.

iA Global Asset Management Inc. grew its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 30.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,996 shares of the utilities provider's stock after purchasing an additional 27,433 shares during the quarter. iA Global Asset Management Inc.'s holdings in Entergy were worth $10,002,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ETR. Bank of America Corp DE lifted its position in shares of Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after purchasing an additional 10,347,926 shares during the period. FMR LLC raised its position in shares of Entergy by 90.7% in the 4th quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock worth $956,273,000 after acquiring an additional 5,998,760 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Entergy by 71.4% in the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after acquiring an additional 5,368,396 shares in the last quarter. Capital International Investors boosted its position in Entergy by 103.6% during 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 in the last quarter. Finally, Invesco Ltd. grew its stake in Entergy by 63.8% in the fourth quarter. Invesco Ltd. now owns 8,514,250 shares of the utilities provider's stock valued at $645,550,000 after purchasing an additional 3,316,758 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Stock Performance

Shares of ETR stock traded up $0.19 on Thursday, hitting $90.47. The company had a trading volume of 2,131,587 shares, compared to its average volume of 2,894,355. Entergy Corporation has a twelve month low of $57.58 and a twelve month high of $92.40. 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 firm has a market cap of $40.39 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57. The company has a 50-day moving average price of $84.22 and a 200-day moving average price of $83.44.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly 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. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%. During the same period in the previous year, the company posted $1.92 earnings per share. As a group, equities research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th will be given 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 2.7%. Entergy's dividend payout ratio is 59.85%.

Insider Buying and Selling at Entergy

In other 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 transaction of $403,901.50. Following the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

ETR has been the subject of several analyst reports. Mizuho set a $97.00 price target on shares of Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. Morgan Stanley lowered 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 note on Wednesday, June 18th. Barclays dropped their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Raymond James Financial initiated coverage on shares of Entergy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. Finally, BMO Capital Markets boosted their target price on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research 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 stock. According to MarketBeat, Entergy currently has an average rating of "Moderate Buy" and an average price target of $88.07.

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.