New York State Common Retirement Fund lowered its holdings in Entergy Co. (NYSE:ETR) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 554,428 shares of the utilities provider’s stock after selling 23,500 shares during the period. New York State Common Retirement Fund’s holdings in Entergy were worth $43,678,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Preferred LLC lifted its holdings in Entergy by 1,174.7% in the fourth quarter. Advisors Preferred LLC now owns 1,262 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 1,163 shares during the last quarter. Synovus Financial Corp bought a new position in Entergy in the first quarter worth about $111,000. Twin Tree Management LP bought a new position in Entergy in the first quarter worth about $130,000. Calton & Associates Inc. bought a new position in Entergy in the fourth quarter worth about $130,000. Finally, NuWave Investment Management LLC bought a new position in Entergy in the fourth quarter worth about $193,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, SVP Alyson M. Mount sold 10,396 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $78.50, for a total transaction of $816,086.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Haley Fisackerly sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $78.02, for a total transaction of $39,010.00. The disclosure for this sale can be found here. Insiders sold 19,096 shares of company stock worth $1,525,531 in the last 90 days. 0.24% of the stock is owned by company insiders.
Shares of NYSE:ETR opened at $80.91 on Friday. Entergy Co. has a 52 week low of $71.95 and a 52 week high of $87.95. The company has a market capitalization of $14.52 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.78 and a beta of 0.45. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 1.96.
Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, April 25th. The utilities provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). Entergy had a net margin of 4.21% and a return on equity of 16.19%. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business posted $0.99 EPS. sell-side analysts predict that Entergy Co. will post 6.44 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Thursday, May 10th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $3.56 annualized dividend and a dividend yield of 4.40%. Entergy’s payout ratio is currently 49.44%.
A number of brokerages have issued reports on ETR. Morgan Stanley cut their target price on shares of Entergy from $82.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, February 13th. TheStreet raised shares of Entergy from a “c” rating to a “b” rating in a report on Wednesday, April 25th. Mizuho reissued a “buy” rating and issued a $88.50 target price on shares of Entergy in a report on Thursday, April 19th. Zacks Investment Research raised shares of Entergy from a “hold” rating to a “strong-buy” rating and set a $90.00 target price on the stock in a report on Tuesday, April 17th. Finally, Wolfe Research raised shares of Entergy from an “underperform” rating to a “market perform” rating in a report on Thursday, April 26th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $85.77.
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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