Intech Investment Management LLC Reduces Stake in Entergy Corporation

Intech Investment Management LLC has decreased its investment in Entergy Corporation (NYSE:ETR) by 13.2% during the fourth quarter, based on recent disclosures made to the Securities and Exchange Commission (SEC). Following this sale, the fund currently holds 28,728 shares of the utility company's stock, down from the previous amount after selling 4,351 shares in that timeframe. According to its latest filing with the SEC, Intech Investment Management LLC's investment in Entergy is valued at approximately $2,178,000.

Several other large investors have also adjusted their stakes in Entergy Corporation. Franklin Resources Inc. significantly increased its holdings by 53.0% in the third quarter, acquiring an additional 1,981,611 shares. This brought its total ownership to 5,718,859 shares, worth about $754,318,000. Jennison Associates LLC also raised its stake in Entergy by 139.5% in the fourth quarter, owning now 2,423,556 shares valued at $183,754,000 after purchasing an extra 1,411,473 shares.

In addition, Charles Schwab Investment Management Inc. boosted its holdings by 105.1% in the same quarter, now owning 2,748,828 shares valued at $208,416,000. Meanwhile, JPMorgan Chase & Co. also escalated its stake by 60.6% in the third quarter, increasing its ownership to 3,589,727 shares worth around $472,444,000. Furthermore, Raymond James Financial Inc. entered the scene, acquiring a new stake in Entergy worth approximately $101,133,000 during the fourth quarter. Overall, institutional investors currently hold 88.07% of Entergy's total outstanding shares.

Current Market Status of Entergy

As of the latest market update on Friday, Entergy's stock opened at $84.62. The company maintains a debt-to-equity ratio of 1.81 and has a current ratio of 0.72. The quick ratio stands at 0.59, and Entergy holds a market capitalization of $36.42 billion. Its price-to-earnings ratio is 34.75, with a PEG ratio of 2.34 and a beta value of 0.68. Over the past year, Entergy's stock has shown a low of $50.19 and a high of $88.38. Currently, the company's 50-day moving average price is $82.75, while the 200-day moving average price is $74.80.

Recent Financial Performance

Entergy Corporation recently published its quarterly earnings data on February 18. The utilities provider reported earnings of $0.66 per share, which exceeded the analysts' expectations of $0.63 by $0.03. The company generated revenue of $2.74 billion for the quarter, although this fell short of the anticipated $3.24 billion. Entergy also reported a return on equity of 10.68% and a net margin of 8.90%. Comparatively, in the same quarter of the previous year, the firm earned $0.26 per share. Analysts predict that Entergy will achieve an earnings per share of 3.88 for the current fiscal year.

Dividend Update

In addition, Entergy recently announced a quarterly dividend which was disbursed on March 3. Shareholders on record as of February 10 received a dividend of $0.60 per share. The ex-dividend date for this payment was also recorded as February 10. This translates to an annualized dividend of $2.40, yielding a dividend yield of 2.84%. Notably, Entergy's payout ratio stands at a significant 98.77%.

Analyst Ratings

Various analysts have recently provided updates on Entergy’s stock. Scotiabank lowered its price target from $165.00 to $82.00, assigning it a "sector perform" rating. KeyCorp also cut its rating from "overweight" to "sector weight". Conversely, Morgan Stanley increased its price target from $75.00 to $78.00 and assigned an "equal weight" rating. StockNews.com improved its rating from "sell" to "hold," while JPMorgan raised its price objective from $87.00 to $98.00, categorizing it as "overweight." Currently, six analysts have rated Entergy as a hold, nine analysts have issued buy ratings, and one has given a strong buy rating. The average rating currently stands at "Moderate Buy," with an average price target of $84.32.

Entergy Corporation Overview

Entergy Corporation, along with its subsidiaries, is involved in the generation and retail distribution of electricity throughout the United States. The company provides services in several states, including Arkansas, Louisiana, Mississippi, and Texas, as well as the City of New Orleans, and also distributes natural gas to its customers.

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