California Public Employees Retirement System Buys 6,710 Shares of Entergy Co. (ETR)
California Public Employees Retirement System lifted its stake in Entergy Co. (NYSE:ETR) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 587,746 shares of the utilities provider’s stock after acquiring an additional 6,710 shares during the quarter. California Public Employees Retirement System owned approximately 0.33% of Entergy worth $44,880,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in ETR. Bessemer Group Inc. increased its position in shares of Entergy by 2.0% in the second quarter. Bessemer Group Inc. now owns 5,360 shares of the utilities provider’s stock valued at $411,000 after acquiring an additional 103 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Entergy by 7.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 681,222 shares of the utilities provider’s stock worth $52,298,000 after buying an additional 44,610 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Entergy by 5.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 70,345 shares of the utilities provider’s stock worth $5,400,000 after buying an additional 3,823 shares during the last quarter. LMR Partners LLP increased its position in Entergy by 40.8% during the second quarter. LMR Partners LLP now owns 20,904 shares of the utilities provider’s stock worth $1,605,000 after buying an additional 6,055 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its position in Entergy by 18.3% during the second quarter. State of Wisconsin Investment Board now owns 239,666 shares of the utilities provider’s stock worth $18,399,000 after buying an additional 37,080 shares during the last quarter. 82.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of Entergy Co. (NYSE:ETR) traded down $0.66 during trading hours on Friday, hitting $82.66. The stock had a trading volume of 1,288,600 shares, compared to its average volume of 1,212,154. Entergy Co. has a 12 month low of $69.63 and a 12 month high of $87.95. The company has a market capitalization of $15,018.55, a PE ratio of 12.32, a PEG ratio of 1.72 and a beta of 0.55. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.61.
Entergy (NYSE:ETR) last issued its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.11. Entergy had a positive return on equity of 14.76% and a negative net margin of 7.82%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. analysts forecast that Entergy Co. will post 6.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 9th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Wednesday, November 8th. This is a boost from Entergy’s previous quarterly dividend of $0.87. Entergy’s payout ratio is currently -72.06%.
A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price target on Entergy from $86.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Bank of America raised Entergy from a “neutral” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Tuesday. TheStreet downgraded Entergy from a “b-” rating to a “c+” rating in a research report on Wednesday, December 6th. Mizuho raised Entergy from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $96.00 price target (up previously from $90.00) on shares of Entergy in a research report on Wednesday, October 25th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $83.17.
In other news, EVP Marcus V. Brown sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $82.00, for a total transaction of $123,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sallie T. Rainer sold 6,300 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $82.00, for a total value of $516,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,812 shares of company stock valued at $4,907,522. Corporate insiders own 0.24% of the company’s stock.
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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.
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