Retirement Systems of Alabama Sells 5,216 Shares of Entergy Corporation $ETR

Retirement Systems of Alabama cut its holdings in shares of Entergy Corporation (NYSE:ETR) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 593,459 shares of the utilities provider’s stock after selling 5,216 shares during the period. Retirement Systems of Alabama owned approximately 0.14% of Entergy worth $49,328,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Assetmark Inc. increased its position in shares of Entergy by 54.4% during the second quarter. Assetmark Inc. now owns 189,400 shares of the utilities provider’s stock worth $15,743,000 after acquiring an additional 66,720 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in Entergy by 3.2% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 6,047 shares of the utilities provider’s stock valued at $503,000 after buying an additional 187 shares during the last quarter. Spire Wealth Management lifted its position in shares of Entergy by 33.3% during the 2nd quarter. Spire Wealth Management now owns 1,834 shares of the utilities provider’s stock worth $152,000 after buying an additional 458 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Entergy by 12.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 7,964 shares of the utilities provider’s stock worth $662,000 after buying an additional 906 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in shares of Entergy by 3.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 8,276 shares of the utilities provider’s stock worth $688,000 after buying an additional 293 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America lifted their target price on shares of Entergy from $88.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Barclays set a $100.00 target price on shares of Entergy and gave the stock an “overweight” rating in a research report on Monday, October 6th. Evercore ISI set a $98.00 target price on shares of Entergy and gave the stock an “in-line” rating in a research report on Monday, October 6th. Mizuho lifted their target price on shares of Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Royal Bank Of Canada raised shares of Entergy to a “moderate buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.94.

Entergy Price Performance

Entergy stock opened at $95.31 on Thursday. Entergy Corporation has a 12 month low of $66.85 and a 12 month high of $98.58. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The business’s 50 day simple moving average is $92.03 and its 200 day simple moving average is $87.01. The company has a market cap of $42.55 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 2.39 and a beta of 0.62.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. Entergy had a return on equity of 11.52% and a net margin of 14.35%.The business had revenue of $2.37 billion for the quarter. Sell-side analysts forecast that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It 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.