State Board of Administration of Florida Retirement System lowered its stake in shares of Entergy Co. (NYSE:ETR) by 0.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 234,683 shares of the utilities provider’s stock after selling 1,771 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.13% of Entergy worth $19,040,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in ETR. Braun Bostich & Associates Inc. boosted its stake in Entergy by 1,320.4% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,392 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 1,294 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Entergy by 402.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,855 shares of the utilities provider’s stock worth $152,000 after buying an additional 1,486 shares during the last quarter. Advisors Preferred LLC boosted its stake in shares of Entergy by 200.8% in the 2nd quarter. Advisors Preferred LLC now owns 2,178 shares of the utilities provider’s stock worth $176,000 after buying an additional 1,454 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Entergy by 65.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,191 shares of the utilities provider’s stock worth $177,000 after buying an additional 869 shares during the last quarter. Finally, ELM Advisors LLC purchased a new position in shares of Entergy in the 3rd quarter worth approximately $178,000. Institutional investors and hedge funds own 91.53% of the company’s stock.
In related news, insider Haley Fisackerly sold 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $84.97, for a total value of $233,667.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Donald W. Vinci sold 5,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $85.00, for a total value of $442,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,450 shares of company stock worth $1,228,168. 0.24% of the stock is owned by company insiders.
Shares of NYSE ETR opened at $85.56 on Friday. Entergy Co. has a twelve month low of $71.95 and a twelve month high of $87.95. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $15.45 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.75 and a beta of 0.39.
Entergy (NYSE:ETR) last posted its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $3.77 EPS for the quarter, beating the consensus estimate of $2.83 by $0.94. Entergy had a return on equity of 16.94% and a net margin of 4.01%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the business earned $2.35 earnings per share. On average, analysts forecast that Entergy Co. will post 6.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 8th will be paid a $0.91 dividend. This is an increase from Entergy’s previous quarterly dividend of $0.89. The ex-dividend date is Wednesday, November 7th. This represents a $3.64 annualized dividend and a yield of 4.25%. Entergy’s dividend payout ratio is presently 50.56%.
A number of equities analysts have recently weighed in on ETR shares. Bank of America boosted their target price on Entergy from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, November 1st. Citigroup boosted their target price on Entergy from $88.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, October 17th. UBS Group upgraded Entergy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $92.00 in a research note on Friday, August 3rd. Goldman Sachs Group upgraded Entergy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $87.00 to $88.00 in a research note on Thursday, July 19th. Finally, Morgan Stanley boosted their target price on Entergy from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Entergy presently has an average rating of “Buy” and an average price target of $89.04.
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Entergy Company Profile
Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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