Gulf International Bank UK Ltd Has $2.15 Million Position in Entergy Corporation $ETR

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Entergy Corporation by 24.1%, now owning 25,124 shares valued at approximately $2.15 million.
• Entergy's recent quarterly earnings reported an EPS of $1.05, surpassing analysts' expectations, while revenues totaled $3.02 billion, slightly below projections.
• The company declared a quarterly dividend of $0.60 per share, which represents a 2.7% yield for shareholders, payable on September 2nd.

Gulf International Bank UK Ltd trimmed its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 24.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,124 shares of the utilities provider's stock after selling 7,988 shares during the quarter. Gulf International Bank UK Ltd's holdings in Entergy were worth $2,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ETR. Bank of America Corp DE lifted its position in Entergy by 142.8% during 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 acquiring an additional 10,347,926 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Entergy by 71.4% during the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after buying an additional 5,368,396 shares in the last quarter. Capital International Investors raised its stake in shares of Entergy by 103.6% during the 4th quarter. Capital International Investors now owns 7,773,654 shares of the utilities provider's stock worth $589,389,000 after buying an additional 3,956,122 shares in the last quarter. Millennium Management LLC raised its stake 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 in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Entergy by 964.8% during the 1st quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider's stock worth $261,232,000 after buying an additional 2,768,734 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Stock Performance

Shares of NYSE ETR traded down $1.20 during midday trading on Monday, hitting $87.92. 1,910,430 shares of the company's stock were exchanged, compared to its average volume of 3,558,374. The firm has a market cap of $39.25 billion, a P/E ratio of 21.90, a PEG ratio of 2.42 and a beta of 0.57. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. Entergy Corporation has a twelve month low of $58.79 and a twelve month high of $92.40. The stock's 50 day moving average price is $85.15 and its 200-day moving average price is $83.87.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. The firm 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 prior year, the firm posted $1.92 earnings per share. Equities research analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, August 13th. Entergy's dividend payout ratio is 59.85%.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction on Thursday, July 31st. The shares were 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 of the company's stock, valued at $300,279. The trade was a 57.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

ETR has been the subject of a number of analyst reports. BMO Capital Markets increased their target price on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Mizuho set a $97.00 target price on Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Morgan Stanley cut their target price 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 dropped their price objective on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Finally, KeyCorp reissued an "overweight" rating and set a $96.00 price target (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $88.07.

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.