Charles Schwab Investment Management Inc. Purchases 1,408,476 Shares of Entergy Corporation (NYSE:ETR)

Charles Schwab Investment Management Inc. boosted its position in Entergy Corporation (NYSE:ETR) by 105.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,748,828 shares of the utilities provider’s stock after purchasing an additional 1,408,476 shares during the period. Charles Schwab Investment Management Inc. owned about 0.64% of Entergy worth $208,416,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Entergy by 53.0% in the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after acquiring an additional 1,981,611 shares in the last quarter. Jennison Associates LLC boosted its position in Entergy by 139.5% in the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after purchasing an additional 1,411,473 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Entergy by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after purchasing an additional 1,354,355 shares during the period. Bank of New York Mellon Corp increased its position in shares of Entergy by 87.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,848,293 shares of the utilities provider’s stock valued at $215,958,000 after purchasing an additional 1,328,694 shares during the last quarter. Finally, Truist Financial Corp raised its stake in shares of Entergy by 105.0% during the 4th quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock worth $157,171,000 after purchasing an additional 1,061,527 shares during the period. 88.07% of the stock is owned by institutional investors.

Entergy Stock Down 4.3 %

ETR stock opened at $81.05 on Friday. The stock has a 50-day simple moving average of $81.29 and a two-hundred day simple moving average of $73.15. Entergy Corporation has a twelve month low of $50.19 and a twelve month high of $88.38. The firm has a market capitalization of $34.88 billion, a PE ratio of 33.28, a PEG ratio of 2.34 and a beta of 0.68. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last released its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the business earned $0.26 earnings per share. On average, equities analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.96%. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

Analysts Set New Price Targets

ETR has been the subject of several research reports. 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 research report on Wednesday, February 19th. Scotiabank reduced their target price on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. KeyCorp lowered shares of Entergy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price objective on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.14.

Insider Activity at Entergy

In related 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 value of $450,146.72. Following the sale, the insider now directly owns 3,952 shares of the company’s stock, valued at $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.39% of the stock is 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.