CIBC Asset Management Inc Increases Holdings in Entergy Corporation (NYSE:ETR)

CIBC Asset Management Inc increased its holdings in shares of Entergy Corporation (NYSE:ETR) by 51.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 90,385 shares of the utilities provider’s stock after acquiring an additional 30,600 shares during the period. CIBC Asset Management Inc’s holdings in Entergy were worth $6,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. OneDigital Investment Advisors LLC boosted its holdings in shares of Entergy by 2.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 69 shares during the period. Acropolis Investment Management LLC lifted its position in Entergy by 0.8% in the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after buying an additional 69 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in Entergy by 0.9% during the third quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock worth $1,065,000 after buying an additional 74 shares during the period. Prossimo Advisors LLC increased its position in Entergy by 1.5% during the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after acquiring an additional 90 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Entergy by 1.3% in the third quarter. Brown Brothers Harriman & Co. now owns 7,233 shares of the utilities provider’s stock valued at $952,000 after acquiring an additional 91 shares during the period. Institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ETR shares. Wells Fargo & Company lifted their price target on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday. 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. Bank of America lowered Entergy from a “buy” rating to a “neutral” rating and raised their price target for the stock from $69.00 to $77.00 in a research note on Monday, November 4th. Guggenheim upped their price objective on Entergy from $72.50 to $82.50 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Mizuho lifted their target price on Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.14.

Entergy Price Performance

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

Entergy (NYSE:ETR) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period last year, the business posted $0.26 EPS. Sell-side analysts forecast that Entergy Corporation will post 3.63 EPS for the current fiscal year.

Entergy Announces Dividend

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

Insider Activity

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the 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 completion of the sale, the insider now owns 3,952 shares of the company’s stock, valued at $292,210.88. This represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.

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.