Employees Retirement System of Texas Sells 134,077 Shares of Entergy Corporation $ETR

Employees Retirement System of Texas reduced its stake in shares of Entergy Corporation (NYSE:ETR) by 18.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 592,564 shares of the utilities provider’s stock after selling 134,077 shares during the quarter. Employees Retirement System of Texas owned approximately 0.13% of Entergy worth $49,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mattson Financial Services LLC increased its position in shares of Entergy by 100.0% during the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after buying an additional 150 shares during the period. Atwood & Palmer Inc. boosted its position in Entergy by 135.7% during the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. GoalVest Advisory LLC grew its holdings in shares of Entergy by 5,733.3% during the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 344 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Entergy in the 2nd quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Entergy during the second quarter valued at approximately $31,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Anastasia Minor sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total transaction of $481,950.00. Following the sale, the insider owned 10,122 shares of the company’s stock, valued at $975,659.58. This trade represents a 33.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ralph Lewis Ropp purchased 1,000 shares of Entergy stock in a transaction dated Wednesday, November 12th. The stock was bought at an average price of $96.69 per share, with a total value of $96,690.00. Following the completion of the purchase, the director directly owned 1,050 shares of the company’s stock, valued at approximately $101,524.50. This trade represents a 2,000.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 10,179 shares of company stock worth $981,707. 0.39% of the stock is owned by corporate insiders.

Entergy Stock Down 0.2%

Shares of Entergy stock opened at $95.26 on Wednesday. The company has a 50-day simple moving average of $94.71 and a two-hundred day simple moving average of $88.65. The stock has a market capitalization of $42.54 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 2.40 and a beta of 0.63. Entergy Corporation has a 52-week low of $73.15 and a 52-week high of $98.58. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.52 and a current ratio of 0.71.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. The company had revenue of $2.37 billion during the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. On average, analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.7%. This is a boost from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, November 13th. Entergy’s payout ratio is 63.21%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Mizuho increased their price objective on Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Jefferies Financial Group assumed coverage on shares of Entergy in a research note on Thursday, September 4th. They issued a “buy” rating and a $109.00 price target for the company. Barclays set a $100.00 price objective on shares of Entergy and gave the stock an “overweight” rating in a research note on Monday, October 6th. Citigroup raised their target price on shares of Entergy from $91.00 to $106.00 and gave the company a “neutral” rating in a research note on Tuesday, November 18th. Finally, JPMorgan Chase & Co. boosted their price target on Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.47.

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.