21,847 Entergy Corporation $ETR Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its holdings in Entergy Corporation (NYSE:ETR) by 16.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 110,720 shares of the utilities provider’s stock after selling 21,847 shares during the period. Illinois Municipal Retirement Fund’s holdings in Entergy were worth $10,990,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETR. Csenge Advisory Group increased its position in shares of Entergy by 7.0% in the third quarter. Csenge Advisory Group now owns 9,710 shares of the utilities provider’s stock valued at $964,000 after acquiring an additional 631 shares during the last quarter. New York Life Investment Management LLC raised its holdings in Entergy by 1.7% during the third quarter. New York Life Investment Management LLC now owns 64,964 shares of the utilities provider’s stock worth $6,448,000 after acquiring an additional 1,093 shares in the last quarter. 71 West Capital Partners raised its holdings in Entergy by 6.1% during the third quarter. 71 West Capital Partners now owns 2,330 shares of the utilities provider’s stock worth $231,000 after acquiring an additional 133 shares in the last quarter. AlphaCore Capital LLC boosted its position in Entergy by 188.3% during the third quarter. AlphaCore Capital LLC now owns 13,477 shares of the utilities provider’s stock valued at $1,338,000 after purchasing an additional 8,802 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in Entergy by 0.4% during the third quarter. Retirement Systems of Alabama now owns 473,226 shares of the utilities provider’s stock valued at $46,972,000 after purchasing an additional 1,663 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Entergy Stock Up 0.2%

Shares of ETR stock opened at $111.95 on Thursday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.93 and a current ratio of 1.18. The firm’s 50-day moving average is $105.10 and its 200-day moving average is $107.95. The stock has a market cap of $53.49 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.49 and a beta of 0.44. Entergy Corporation has a 52-week low of $90.87 and a 52-week high of $118.44.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.25. Entergy had a return on equity of 11.44% and a net margin of 14.63%. The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the company posted $1.53 earnings per share. Sell-side analysts predict that Entergy Corporation will post 4.41 EPS for the current year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from Entergy’s previous quarterly dividend of $0.64. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.4%. Entergy’s payout ratio is 58.85%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Evercore raised their price target on Entergy from $121.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. BMO Capital Markets dropped their price objective on Entergy from $124.00 to $123.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Barclays reiterated an “overweight” rating and set a $115.00 price objective (down from $128.00) on shares of Entergy in a research note on Monday, October 19th. BTIG Research reissued a “buy” rating and issued a $124.00 price objective (up from $117.00) on shares of Entergy in a report on Tuesday, November 3rd. Finally, Jefferies Financial Group decreased their target price on shares of Entergy from $133.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Twenty investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.57.

Insider Activity

In other news, insider Laura Landreaux sold 5,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $106.20, for a total value of $594,720.00. Following the completion of the sale, the insider directly owned 22,589 shares of the company’s stock, valued at $2,398,951.80. This trade represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by insiders.

Entergy Profile

Entergy Corporation is an investor-owned energy company headquartered in New Orleans. Its primary business is providing regulated electric utility service to residential, commercial and industrial customers. Through its utility subsidiaries, Entergy serves communities in Arkansas, Louisiana, Mississippi and Texas. Its operations include generating, transmitting and distributing electricity, with power produced from a mix of sources that includes nuclear energy. The company traces its corporate history to Middle South Utilities, which adopted the Entergy name in 1989.