Deutsche Bank AG Reduces Stock Holdings in Entergy Co. (NYSE:ETR)

Posted by on Jun 11th, 2023

Deutsche Bank AG trimmed its position in Entergy Co. (NYSE:ETR – Get Rating) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 418,635 shares of the utilities provider’s stock after selling 44,045 shares during the period. Deutsche Bank AG owned about 0.21% of Entergy worth $47,096,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new position in shares of Entergy during the 4th quarter valued at about $206,000. State of Michigan Retirement System lifted its position in shares of Entergy by 0.4% during the 4th quarter. State of Michigan Retirement System now owns 55,302 shares of the utilities provider’s stock valued at $6,221,000 after buying an additional 200 shares in the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Entergy during the 4th quarter valued at about $43,000. SVB Wealth LLC lifted its position in shares of Entergy by 65.6% during the 3rd quarter. SVB Wealth LLC now owns 2,999 shares of the utilities provider’s stock valued at $302,000 after buying an additional 1,188 shares in the last quarter. Finally, Atria Investments Inc lifted its position in shares of Entergy by 2.4% during the 4th quarter. Atria Investments Inc now owns 12,381 shares of the utilities provider’s stock valued at $1,393,000 after buying an additional 294 shares in the last quarter. 89.98% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Performance

NYSE ETR opened at $101.44 on Friday. The business’s 50 day moving average price is $104.85 and its 200-day moving average price is $107.45. Entergy Co. has a fifty-two week low of $94.94 and a fifty-two week high of $122.46. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.66 and a current ratio of 0.90. The company has a market cap of $21.45 billion, a P/E ratio of 18.44, a P/E/G ratio of 2.67 and a beta of 0.65.

Entergy (NYSE:ETR – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.20). Entergy had a net margin of 8.17% and a return on equity of 10.34%. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the firm earned $1.32 EPS. Sell-side analysts predict that Entergy Co. will post 6.67 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Thursday, May 4th were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Wednesday, May 3rd. Entergy’s payout ratio is currently 77.82%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ETR. Bank of America reduced their price objective on Entergy from $119.00 to $107.00 in a research note on Sunday, May 21st. Guggenheim reduced their price objective on Entergy from $128.00 to $124.00 in a research note on Monday, April 24th. Citigroup reduced their price objective on Entergy from $131.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 12th. TheStreet raised Entergy from a “c+” rating to a “b-” rating in a research note on Monday, April 17th. Finally, StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research note on Friday, May 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Entergy has an average rating of “Hold” and a consensus price target of $119.00.

About Entergy

(Get Rating)

Entergy Corp. is a holding company, which engages in electric power generation and distribution. It operates through the following segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution, and sale of electric power and the operations of a natural gas distribution business.

Read More

Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Co. (NYSE:ETR – Get Rating).

Institutional Ownership by Quarter for Entergy (NYSE:ETR)

Receive News & Ratings for Entergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entergy and related companies with MarketBeat.com's FREE daily email newsletter.