California State Teachers Retirement System lowered its position in shares of Entergy Co. (NYSE:ETR – Get Rating) by 1.3% in the third quarter, Holdings Channel reports. The institutional investor owned 321,743 shares of the utilities provider’s stock after selling 4,397 shares during the period. California State Teachers Retirement System’s holdings in Entergy were worth $32,377,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Entergy by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,491,291 shares of the utilities provider’s stock valued at $2,464,558,000 after purchasing an additional 246,924 shares during the period. State Street Corp boosted its stake in shares of Entergy by 1.3% in the third quarter. State Street Corp now owns 12,863,899 shares of the utilities provider’s stock valued at $1,294,494,000 after buying an additional 159,535 shares during the period. FMR LLC grew its position in Entergy by 36.6% during the second quarter. FMR LLC now owns 7,891,697 shares of the utilities provider’s stock worth $888,921,000 after buying an additional 2,116,058 shares in the last quarter. Boston Partners increased its stake in Entergy by 16.9% during the 3rd quarter. Boston Partners now owns 2,936,555 shares of the utilities provider’s stock worth $295,568,000 after acquiring an additional 424,672 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Entergy by 18.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,111,243 shares of the utilities provider’s stock valued at $237,810,000 after acquiring an additional 330,445 shares in the last quarter. Institutional investors own 89.98% of the company’s stock.
Insider Buying and Selling at Entergy
In other news, EVP Marcus V. Brown sold 12,500 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $106.10, for a total transaction of $1,326,250.00. Following the completion of the transaction, the executive vice president now directly owns 9,129 shares in the company, valued at $968,586.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Marcus V. Brown sold 12,500 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $106.10, for a total transaction of $1,326,250.00. Following the completion of the sale, the executive vice president now directly owns 9,129 shares in the company, valued at $968,586.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Deanna D. Rodriguez sold 300 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $103.96, for a total transaction of $31,188.00. Following the completion of the transaction, the insider now owns 3,269 shares in the company, valued at approximately $339,845.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,092 shares of company stock worth $1,821,838. Insiders own 0.37% of the company’s stock.
Entergy Stock Performance
Entergy (NYSE:ETR – Get Rating) last posted its earnings results on Thursday, February 16th. The utilities provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.65 billion. Entergy had a net margin of 8.01% and a return on equity of 10.88%. During the same period in the previous year, the firm posted $0.76 EPS. Equities research analysts anticipate that Entergy Co. will post 6.68 earnings per share for the current year.
Entergy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.09%. The ex-dividend date was Thursday, February 9th. Entergy’s payout ratio is presently 79.41%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Wells Fargo & Company raised their price target on Entergy from $123.00 to $135.00 in a research report on Wednesday, December 14th. Bank of America cut shares of Entergy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $135.00 to $119.00 in a research report on Tuesday, January 3rd. Mizuho reduced their price target on shares of Entergy from $114.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, January 19th. Morgan Stanley cut their target price on Entergy from $108.00 to $103.00 and set an “underweight” rating for the company in a research note on Wednesday, February 22nd. Finally, TheStreet lowered Entergy from a “b” rating to a “c+” rating in a research note on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $122.47.
Entergy Corp. is a holding company, which engages in electric power generation and distribution. It operates through the following segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution, and sale of electric power and the operations of a natural gas distribution business.
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