Invesco Ltd. Sells 2,511,780 Shares of Entergy Corporation (NYSE:ETR)

Key Points

• Invesco Ltd. has reduced its stake in Entergy Corporation by 29.5%, now holding 6,002,470 shares valued at approximately $513.15 million.
• Other institutional investors have increased their positions, with Vanguard Group growing its holdings by 5.2% and Bank of America increasing its stake by 142.8%.
• Entergy announced a quarterly dividend of $0.60 per share, with an ex-dividend date set for August 13th, representing an annualized yield of 2.7%.

Invesco Ltd. decreased its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 29.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,002,470 shares of the utilities provider's stock after selling 2,511,780 shares during the period. Invesco Ltd. owned approximately 1.39% of Entergy worth $513,151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Entergy in the 1st quarter valued at $28,000. Grove Bank & Trust grew its holdings in shares of Entergy by 188.5% in the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after buying an additional 230 shares during the period. Glen Eagle Advisors LLC grew its holdings in shares of Entergy by 100.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after buying an additional 180 shares during the period. Glass Jacobson Investment Advisors llc acquired a new position in shares of Entergy in the 4th quarter valued at $29,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Entergy in the 1st quarter valued at $32,000. Institutional investors own 88.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ETR shares. Barclays decreased their price target on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. KeyCorp reaffirmed 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. Mizuho set a $97.00 target price on shares of Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets upped their target price on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.07.

Entergy Stock Up 0.9%

NYSE:ETR traded up $0.77 on Tuesday, hitting $90.86. 2,399,054 shares of the company's stock were exchanged, compared to its average volume of 2,853,424. The firm has a 50-day moving average price of $84.66 and a 200-day moving average price of $83.61. 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 52 week low of $58.17 and a 52 week high of $92.40. The company has a market cap of $40.56 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 2.45 and a beta of 0.57.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The firm had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the previous year, the firm posted $1.92 EPS. As a group, analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's dividend payout ratio is currently 59.85%.

Insiders Place Their Bets

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. This represents a 57.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

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.