CIBC Asset Management Inc Raises Stake in Entergy Corporation (NYSE:ETR)

CIBC Asset Management Inc boosted its holdings in Entergy Corporation (NYSE:ETR) by 51.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,385 shares of the utilities provider’s stock after purchasing an additional 30,600 shares during the quarter. CIBC Asset Management Inc’s holdings in Entergy were worth $6,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Legacy Investment Solutions LLC bought a new stake in shares of Entergy in the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC raised its stake in Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after buying an additional 178 shares during the last quarter. Coastline Trust Co bought a new stake in Entergy in the third quarter worth $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of Entergy in the third quarter worth $42,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Entergy during the third quarter valued at $51,000. Institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

NYSE ETR opened at $87.31 on Thursday. The company has a 50-day moving average price of $78.74 and a 200-day moving average price of $71.08. Entergy Corporation has a 52 week low of $49.80 and a 52 week high of $88.38. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $37.44 billion, a P/E ratio of 21.27, a PEG ratio of 2.52 and a beta of 0.72.

Entergy (NYSE:ETR) last announced its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a net margin of 14.83% and a return on equity of 9.53%. During the same period in the prior year, the company earned $0.26 earnings per share. Equities research analysts anticipate that Entergy Corporation will post 3.63 earnings per share for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.75%. Entergy’s dividend payout ratio (DPR) is presently 58.47%.

Wall Street Analyst Weigh In

ETR has been the topic of a number of analyst reports. Barclays upped their price target on shares of Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. BMO Capital Markets increased their price target on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday. Bank of America lowered shares of Entergy from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $69.00 to $77.00 in a report on Monday, November 4th. Scotiabank cut their target price on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 7th. Finally, Evercore ISI boosted their price target on Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.14.

Insider Buying and Selling at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $73.94, for a total transaction of $450,146.72. Following the sale, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% 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.