iA Global Asset Management Inc. Has $933,000 Position in Entergy Co. (NYSE:ETR)

iA Global Asset Management Inc. increased its position in Entergy Co. (NYSE:ETR) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,830 shares of the utilities provider’s stock after buying an additional 114 shares during the period. iA Global Asset Management Inc.’s holdings in Entergy were worth $933,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ETR. Capital International Investors increased its holdings in Entergy by 64.2% in the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock worth $440,690,000 after buying an additional 1,630,057 shares during the last quarter. Norges Bank acquired a new position in shares of Entergy in the fourth quarter valued at $127,675,000. Confluence Investment Management LLC acquired a new position in shares of Entergy in the first quarter valued at $92,257,000. Franklin Resources Inc. raised its stake in shares of Entergy by 25.2% in the fourth quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock valued at $400,901,000 after purchasing an additional 796,316 shares in the last quarter. Finally, ClearBridge Investments Ltd raised its stake in shares of Entergy by 29.3% in the fourth quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock valued at $315,254,000 after purchasing an additional 706,059 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley cut their target price on Entergy from $103.00 to $98.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Mizuho increased their price objective on Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. KeyCorp increased their price objective on Entergy from $112.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Scotiabank dropped their price objective on Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $109.50 price target (down from $117.00) on shares of Entergy in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.42.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the transaction, the insider now directly owns 2,479 shares in the company, valued at approximately $273,260.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares in the company, valued at approximately $235,465.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Haley Fisackerly sold 1,500 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the sale, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Entergy Trading Up 4.1 %

Shares of Entergy stock traded up $4.80 during trading on Thursday, hitting $120.77. 2,082,894 shares of the company were exchanged, compared to its average volume of 1,511,908. The firm has a market capitalization of $25.79 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 2.20 and a beta of 0.71. Entergy Co. has a 1-year low of $87.10 and a 1-year high of $121.18. The firm’s fifty day moving average price is $108.62 and its 200 day moving average price is $105.46. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $4.52 annualized dividend and a dividend yield of 3.74%. Entergy’s payout ratio 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.