Mirae Asset Global Investments Co. Ltd. Has $1.81 Million Stock Holdings in Entergy Co. (NYSE:ETR)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Entergy Co. (NYSE:ETR) by 34.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,806 shares of the utilities provider’s stock after purchasing an additional 3,507 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Entergy were worth $1,810,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ETR. Iron Horse Wealth Management LLC acquired a new position in shares of Entergy in the 2nd quarter valued at approximately $25,000. Heritage Wealth Advisors grew its position in shares of Entergy by 2,172.7% in the 1st quarter. Heritage Wealth Advisors now owns 250 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 239 shares during the period. Cetera Trust Company N.A acquired a new position in shares of Entergy in the 3rd quarter valued at approximately $29,000. American National Bank grew its position in shares of Entergy by 93.7% in the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 134 shares during the period. Finally, TruNorth Capital Management LLC acquired a new position in shares of Entergy in the 2nd quarter valued at approximately $32,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on ETR. Bank of America boosted their target price on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. KeyCorp boosted their target price on Entergy from $140.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. UBS Group boosted their target price on Entergy from $143.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Scotiabank boosted their target price on Entergy from $115.00 to $119.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Guggenheim boosted their target price on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.19.

Insider Activity at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total value of $1,321,115.52. Following the sale, the chief operating officer now owns 37,888 shares in the company, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.16, for a total transaction of $1,321,115.52. Following the sale, the chief operating officer now directly owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider now directly owns 5,117 shares in the company, valued at approximately $614,040. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,810 shares of company stock worth $6,140,626. Company insiders own 0.54% of the company’s stock.

Entergy Stock Up 15.1 %

ETR opened at $154.75 on Friday. Entergy Co. has a 1-year low of $94.63 and a 1-year high of $156.85. The stock’s fifty day simple moving average is $129.20 and its 200 day simple moving average is $116.82. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The stock has a market cap of $33.09 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the business earned $1.84 EPS. As a group, research analysts expect that Entergy Co. will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio is 54.07%.

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.