Zurcher Kantonalbank Zurich Cantonalbank Buys 45,219 Shares of Entergy Corporation (NYSE:ETR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Entergy Corporation (NYSE:ETR - Free Report) by 38.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,626 shares of the utilities provider's stock after acquiring an additional 45,219 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Entergy were worth $13,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETR. Legacy Financial Advisors Inc. increased its position in shares of Entergy by 60.0% during the fourth quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider's stock worth $1,219,000 after acquiring an additional 6,028 shares during the last quarter. Choreo LLC increased its position in shares of Entergy by 12.3% during the first quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock worth $816,000 after acquiring an additional 1,042 shares during the last quarter. Bank of Montreal Can increased its position in shares of Entergy by 74.3% during the fourth quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider's stock worth $50,869,000 after acquiring an additional 286,005 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Entergy during the first quarter worth about $1,073,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Entergy by 25.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider's stock worth $6,708,000 after acquiring an additional 15,892 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their target price on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Barclays reduced their price objective on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Raymond James Financial began coverage on Entergy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. KeyCorp reaffirmed an "overweight" rating and issued a $96.00 price target (up previously from $88.00) on shares of Entergy in a report on Thursday. Finally, Mizuho set a $97.00 target price on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday. 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's stock. According to MarketBeat, Entergy has a consensus rating of "Moderate Buy" and a consensus price target of $88.07.

Entergy Stock Performance

Shares of ETR traded down $0.68 during trading hours on Friday, reaching $89.75. 2,658,290 shares of the company traded hands, compared to its average volume of 2,588,573. The stock's fifty day moving average is $83.55 and its 200 day moving average is $83.18. The stock has a market cap of $38.66 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.55 and a current ratio of 0.80. Entergy Corporation has a 1-year low of $57.58 and a 1-year high of $91.46.

Entergy (NYSE:ETR - Get Free Report) last posted 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. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the business posted $1.92 earnings per share. Equities research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

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

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the firm'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 transaction of $403,901.50. Following the completion of the sale, the insider owned 3,318 shares of the company's stock, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.39% of the stock is owned by company insiders.

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.