State Board of Administration of Florida Retirement System Has $18.14 Million Position in Entergy Co. (NYSE:ETR)

State Board of Administration of Florida Retirement System lessened its stake in Entergy Co. (NYSE:ETRFree Report) by 13.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,147 shares of the utilities provider’s stock after selling 31,360 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.09% of Entergy worth $18,144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Entergy in the third quarter valued at approximately $32,000. HighTower Advisors LLC increased its stake in shares of Entergy by 5.4% in the 3rd quarter. HighTower Advisors LLC now owns 30,766 shares of the utilities provider’s stock valued at $2,842,000 after buying an additional 1,584 shares during the period. Pathstone Family Office LLC acquired a new stake in shares of Entergy in the 3rd quarter valued at $544,000. AlphaStar Capital Management LLC bought a new stake in shares of Entergy during the third quarter worth $302,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Entergy by 11.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 17,670 shares of the utilities provider’s stock valued at $1,634,000 after acquiring an additional 1,763 shares during the period. 86.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ETR shares. Royal Bank of Canada lowered Entergy from an “outperform” rating to a “sector perform” rating and set a $117.00 price objective for the company. in a research report on Wednesday, November 8th. UBS Group upgraded shares of Entergy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $103.00 to $118.00 in a research report on Monday, November 6th. Morgan Stanley increased their price objective on shares of Entergy from $92.00 to $94.00 and gave the company an “underweight” rating in a report on Tuesday, November 21st. Bank of America raised shares of Entergy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $94.00 to $110.00 in a report on Tuesday, November 21st. Finally, Guggenheim upped their target price on shares of Entergy from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.82.

Check Out Our Latest Report on ETR

Insiders Place Their Bets

In related news, EVP Marcus V. Brown sold 38,417 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $101.53, for a total value of $3,900,478.01. Following the completion of the transaction, the executive vice president now directly owns 9,380 shares in the company, valued at approximately $952,351.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Entergy Price Performance

Shares of ETR stock opened at $97.95 on Friday. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.94 and a beta of 0.71. Entergy Co. has a 12-month low of $87.10 and a 12-month high of $111.90. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 1.80. The firm has a fifty day moving average of $101.04 and a 200-day moving average of $98.02.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be paid a $1.13 dividend. The ex-dividend date is Thursday, February 8th. This represents a $4.52 dividend on an annualized basis and a yield of 4.61%. Entergy’s payout ratio is 64.94%.

Entergy Profile

(Free Report)

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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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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