CIBC Asset Management Inc Has $6.25 Million Stock Position in Entergy Co. (NYSE:ETR)

CIBC Asset Management Inc decreased its position in Entergy Co. (NYSE:ETR) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,433 shares of the utilities provider’s stock after selling 1,308 shares during the period. CIBC Asset Management Inc’s holdings in Entergy were worth $6,252,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its holdings in Entergy by 6.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock valued at $25,275,000 after acquiring an additional 13,882 shares in the last quarter. Cetera Advisor Networks LLC raised its holdings in Entergy by 11.1% in the 4th quarter. Cetera Advisor Networks LLC now owns 55,261 shares of the utilities provider’s stock valued at $5,592,000 after acquiring an additional 5,509 shares in the last quarter. Norges Bank bought a new stake in shares of Entergy in the 4th quarter valued at approximately $127,675,000. Groupama Asset Managment bought a new stake in shares of Entergy in the 4th quarter valued at approximately $15,783,000. Finally, Acadian Asset Management LLC grew its stake in shares of Entergy by 55.4% in the 1st quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock valued at $1,571,000 after purchasing an additional 5,303 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ETR shares. KeyCorp upped their price objective on Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Argus upgraded Entergy to a “strong-buy” rating in a research note on Wednesday, August 28th. Scotiabank upped their price objective on Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Morgan Stanley upped their price objective on Entergy from $100.00 to $109.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Finally, Mizuho increased their price target on Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.04.

Insider Activity

In other news, insider Eliecer Viamontes sold 5,166 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the transaction, the insider now owns 5,117 shares of the company’s stock, valued at approximately $614,040. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Andrew S. Marsh sold 19,200 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $120.35, for a total transaction of $2,310,720.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,140,475.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the sale, the insider now directly owns 5,117 shares in the company, valued at approximately $614,040. The disclosure for this sale can be found here. Insiders have sold a total of 39,638 shares of company stock valued at $4,712,446 in the last 90 days. 0.39% of the stock is owned by company insiders.

Entergy Stock Up 0.3 %

Shares of ETR opened at $122.53 on Thursday. The firm has a market capitalization of $26.16 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 2.28 and a beta of 0.71. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.62 and a current ratio of 0.94. The business’s fifty day moving average price is $113.94 and its two-hundred day moving average price is $108.83. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $123.73.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.98 billion. Entergy had a return on equity of 10.10% and a net margin of 14.75%. During the same period last year, the company earned $1.84 EPS. On average, analysts predict that Entergy Co. will post 7.2 earnings per share for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Tuesday, August 13th. Entergy’s dividend payout ratio (DPR) is currently 45.34%.

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.