Alps Advisors Inc. Has $547,000 Holdings in Entergy Co. (ETR)
Alps Advisors Inc. reduced its position in Entergy Co. (NYSE:ETR) by 98.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,720 shares of the utilities provider’s stock after selling 566,482 shares during the quarter. Alps Advisors Inc.’s holdings in Entergy were worth $547,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETR. Cerebellum GP LLC acquired a new stake in shares of Entergy during the fourth quarter worth $123,000. Calton & Associates Inc. acquired a new stake in shares of Entergy during the fourth quarter worth $130,000. Advisory Services Network LLC lifted its stake in shares of Entergy by 2.1% during the second quarter. Advisory Services Network LLC now owns 2,335 shares of the utilities provider’s stock worth $179,000 after buying an additional 49 shares during the period. Krilogy Financial LLC lifted its stake in shares of Entergy by 1,116.0% during the third quarter. Krilogy Financial LLC now owns 2,432 shares of the utilities provider’s stock worth $186,000 after buying an additional 2,232 shares during the period. Finally, Segment Wealth Management LLC acquired a new stake in shares of Entergy during the fourth quarter worth $201,000. 82.80% of the stock is currently owned by institutional investors and hedge funds.
ETR has been the subject of several research reports. TheStreet upgraded shares of Entergy from a “c” rating to a “b-” rating in a research note on Friday, October 27th. Mizuho upgraded shares of Entergy from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Jefferies Group upgraded shares of Entergy from a “hold” rating to a “buy” rating in a research note on Monday, October 16th. Guggenheim reiterated a “buy” rating and set a $101.00 price objective on shares of Entergy in a research note on Wednesday, January 3rd. Finally, Bank of America upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Tuesday, December 12th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $84.36.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 8th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $3.56 dividend on an annualized basis and a yield of 4.77%. Entergy’s dividend payout ratio is presently -72.06%.
Entergy Company Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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).
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.