National Bank of Canada FI Grows Stock Position in Entergy Corporation (NYSE:ETR)

Key Points

• National Bank of Canada FI increased its stake in Entergy Corporation by 2.7% in the first quarter, owning a total of 402,560 shares valued at approximately $34.4 million.
• Analyst ratings for Entergy show a consensus of "Moderate Buy," with six analysts rating it as a hold, ten as buy, and one as a strong buy.
• Entergy Corporation announced a quarterly dividend of $0.60 per share, with a yield of 2.7%, payable on September 2nd to investors recorded by August 13th.

National Bank of Canada FI lifted its stake in Entergy Corporation (NYSE:ETR - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 402,560 shares of the utilities provider's stock after buying an additional 10,428 shares during the period. National Bank of Canada FI owned approximately 0.09% of Entergy worth $34,412,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ETR. Glen Eagle Advisors LLC increased its holdings in Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 180 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Entergy during the 1st quarter valued at about $28,000. Glass Jacobson Investment Advisors llc purchased a new position in Entergy during the 4th quarter valued at about $29,000. Fourth Dimension Wealth LLC purchased a new position in Entergy during the 4th quarter valued at about $30,000. Finally, Grove Bank & Trust increased its holdings in Entergy by 188.5% during the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 230 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ETR. JPMorgan Chase & Co. lifted their price objective on Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Barclays cut their price objective on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. BMO Capital Markets lifted their price objective on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. KeyCorp reaffirmed an "overweight" rating and set a $96.00 price objective (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Finally, Raymond James Financial began coverage on Entergy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.07.

Entergy Price Performance

Shares of NYSE ETR opened at $90.44 on Friday. Entergy Corporation has a twelve month low of $57.65 and a twelve month high of $92.40. The firm has a market cap of $40.37 billion, a P/E ratio of 22.53, a PEG ratio of 2.46 and a beta of 0.57. The company has a 50 day moving average of $84.36 and a 200 day moving average of $83.49. 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 quarterly earnings data 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. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the business earned $1.92 EPS. As a group, research analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the transaction, the insider directly owned 3,318 shares in the company, valued at $300,279. The trade was a 57.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.