Texas Permanent School Fund Sells 1,652 Shares of Entergy Co. (NYSE:ETR)
Texas Permanent School Fund cut its holdings in Entergy Co. (NYSE:ETR – Get Rating) by 6.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,069 shares of the utilities provider’s stock after selling 1,652 shares during the period. Texas Permanent School Fund’s holdings in Entergy were worth $3,044,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the business. Deseret Mutual Benefit Administrators increased its stake in shares of Entergy by 7.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,266 shares of the utilities provider’s stock worth $143,000 after purchasing an additional 92 shares during the period. Louisiana State Employees Retirement System increased its stake in Entergy by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the utilities provider’s stock valued at $1,598,000 after acquiring an additional 100 shares during the period. Prospera Financial Services Inc increased its stake in Entergy by 4.8% during the first quarter. Prospera Financial Services Inc now owns 2,217 shares of the utilities provider’s stock valued at $259,000 after acquiring an additional 101 shares during the period. Bailard Inc. increased its stake in Entergy by 5.2% during the fourth quarter. Bailard Inc. now owns 2,336 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 115 shares during the period. Finally, Delta Financial Advisors LLC increased its stake in Entergy by 0.5% during the fourth quarter. Delta Financial Advisors LLC now owns 23,484 shares of the utilities provider’s stock valued at $2,645,000 after acquiring an additional 116 shares during the period. 88.94% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, COO Paul D. Hinnenkamp sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $120.94, for a total value of $786,110.00. Following the completion of the transaction, the chief operating officer now owns 26,102 shares in the company, valued at approximately $3,156,775.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on ETR shares. Baader Bank set a $188.00 price target on Entergy in a research note on Wednesday, May 18th. Mizuho decreased their price objective on Entergy from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Sanford C. Bernstein set a $100.00 price objective on Entergy and gave the company a “market perform” rating in a report on Tuesday, May 17th. BMO Capital Markets lifted their price objective on Entergy from $124.00 to $132.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Finally, The Goldman Sachs Group set a $224.00 price objective on Entergy in a report on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Entergy has a consensus rating of “Hold” and a consensus price target of $124.38.
Entergy Stock Up 0.4 %
Shares of ETR opened at $118.22 on Tuesday. The company has a market capitalization of $24.05 billion, a P/E ratio of 19.54, a PEG ratio of 2.76 and a beta of 0.58. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.87 and a quick ratio of 0.64. Entergy Co. has a one year low of $98.50 and a one year high of $126.82. The business’s 50 day simple moving average is $112.34 and its 200-day simple moving average is $113.60.
Entergy (NYSE:ETR – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.42. Entergy had a net margin of 9.92% and a return on equity of 11.07%. During the same period in the previous year, the firm posted $1.34 earnings per share. As a group, sell-side analysts predict that Entergy Co. will post 6.36 EPS for the current fiscal year.
Entergy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 11th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Wednesday, August 10th. Entergy’s dividend payout ratio (DPR) is presently 66.78%.
Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.
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