Employees Retirement System of Texas lessened its stake in Entergy Corporation (NYSE:ETR) by 23.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,000 shares of the utilities provider’s stock after selling 3,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Entergy Corporation were worth $768,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ETR. BlackRock Inc. boosted its holdings in Entergy Corporation by 3,574.9% in the 1st quarter. BlackRock Inc. now owns 16,089,684 shares of the utilities provider’s stock worth $1,222,173,000 after acquiring an additional 15,651,863 shares during the period. Franklin Resources Inc. boosted its holdings in Entergy Corporation by 43.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,888,643 shares of the utilities provider’s stock worth $144,991,000 after acquiring an additional 576,426 shares during the period. AJO LP boosted its holdings in Entergy Corporation by 16.0% in the 2nd quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock worth $270,119,000 after acquiring an additional 485,602 shares during the period. Vanguard Group Inc. boosted its holdings in Entergy Corporation by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock worth $1,513,680,000 after acquiring an additional 470,255 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Entergy Corporation by 99.4% in the 2nd quarter. Principal Financial Group Inc. now owns 902,639 shares of the utilities provider’s stock worth $69,296,000 after acquiring an additional 449,986 shares during the period. Hedge funds and other institutional investors own 84.15% of the company’s stock.
In other news, insider Sallie T. Rainer sold 6,300 shares of the business’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $82.00, for a total transaction of $516,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald W. Vinci sold 5,416 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $83.00, for a total value of $449,528.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,945 shares of company stock valued at $1,878,157. 0.24% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on the company. Jefferies Group LLC upgraded Entergy Corporation from a “hold” rating to a “buy” rating in a report on Monday. Citigroup Inc. upgraded Entergy Corporation from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a report on Friday, October 13th. J P Morgan Chase & Co increased their target price on Entergy Corporation from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. Morgan Stanley upgraded Entergy Corporation from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $84.00 to $82.00 in a research note on Thursday, September 21st. Finally, BidaskClub upgraded Entergy Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $79.33.
Shares of Entergy Corporation (NYSE ETR) opened at 84.60 on Wednesday. The firm’s market capitalization is $15.19 billion. The firm has a 50-day moving average price of $78.68 and a 200 day moving average price of $77.50. Entergy Corporation has a 12 month low of $66.71 and a 12 month high of $84.60.
Entergy Corporation (NYSE:ETR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $1.91. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.44 billion. Entergy Corporation had a positive return on equity of 14.08% and a negative net margin of 7.98%. During the same quarter in the previous year, the company posted $3.16 earnings per share. On average, analysts anticipate that Entergy Corporation will post $6.73 EPS for the current fiscal year.
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Entergy Corporation Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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