Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Entergy Co. (NYSE:ETR – Get Rating) by 4.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 14,231 shares of the utilities provider’s stock after selling 619 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Entergy were worth $1,661,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of America Corp DE lifted its holdings in shares of Entergy by 2.0% during the 1st quarter. Bank of America Corp DE now owns 9,333,869 shares of the utilities provider’s stock valued at $1,089,729,000 after acquiring an additional 181,755 shares in the last quarter. Verition Fund Management LLC lifted its holdings in Entergy by 175.4% in the 1st quarter. Verition Fund Management LLC now owns 264,769 shares of the utilities provider’s stock worth $30,912,000 after buying an additional 168,628 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Entergy by 21.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,433 shares of the utilities provider’s stock worth $3,086,000 after buying an additional 4,644 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Entergy by 4.7% in the 1st quarter. Advisory Services Network LLC now owns 7,466 shares of the utilities provider’s stock worth $871,000 after buying an additional 332 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Entergy by 6.4% in the 1st quarter. Neuberger Berman Group LLC now owns 15,829 shares of the utilities provider’s stock worth $1,849,000 after purchasing an additional 950 shares during the last quarter. Institutional investors and hedge funds own 90.53% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Entergy from $106.00 to $115.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 23rd. UBS Group downgraded shares of Entergy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $134.00 to $128.00 in a research report on Tuesday, September 6th. Mizuho lowered their price objective on shares of Entergy from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Evercore ISI boosted their price objective on shares of Entergy to $130.00 in a research report on Tuesday, August 9th. Finally, Wells Fargo & Company boosted their price objective on shares of Entergy from $125.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $125.43.
Entergy Price Performance
Entergy (NYSE:ETR – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The utilities provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.36. Entergy had a return on equity of 11.07% and a net margin of 9.92%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Analysts forecast that Entergy Co. will post 6.38 EPS for the current fiscal year.
Entergy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 11th were given a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $4.04 annualized dividend and a dividend yield of 3.57%. Entergy’s dividend payout ratio is 66.78%.
Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.
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