Entergy Co. (NYSE:ETR) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in shares of Entergy Co. (NYSE:ETR) by 15.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 55,413 shares of the utilities provider’s stock after selling 10,290 shares during the period. State of Alaska Department of Revenue’s holdings in Entergy were worth $5,855,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ETR. Quadrature Capital Ltd grew its stake in shares of Entergy by 155.3% in the 3rd quarter. Quadrature Capital Ltd now owns 7,623 shares of the utilities provider’s stock valued at $705,000 after purchasing an additional 4,637 shares during the last quarter. Truist Financial Corp increased its stake in Entergy by 38.6% in the 3rd quarter. Truist Financial Corp now owns 138,977 shares of the utilities provider’s stock valued at $12,855,000 after buying an additional 38,709 shares during the period. Axxcess Wealth Management LLC acquired a new position in Entergy in the 3rd quarter valued at $448,000. JPMorgan Chase & Co. lifted its stake in shares of Entergy by 16.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,506,022 shares of the utilities provider’s stock worth $231,807,000 after acquiring an additional 352,847 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Entergy by 65.2% in the third quarter. Sei Investments Co. now owns 133,798 shares of the utilities provider’s stock valued at $12,378,000 after acquiring an additional 52,795 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Entergy

In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the sale, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Entergy news, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the transaction, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the sale, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at $235,465.86. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ETR shares. Scotiabank reduced their price objective on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Mizuho raised their price target on Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, May 31st. Morgan Stanley dropped their price objective on Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. Barclays upped their price target on shares of Entergy from $107.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Finally, BMO Capital Markets increased their price target on shares of Entergy from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

Entergy Price Performance

ETR stock opened at $105.56 on Thursday. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $114.28. The firm has a market cap of $22.54 billion, a P/E ratio of 10.59, a PEG ratio of 2.00 and a beta of 0.71. The stock’s 50 day moving average price is $108.83 and its 200 day moving average price is $104.35. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). Entergy had a net margin of 17.75% and a return on equity of 10.20%. The company had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business earned $1.14 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts expect that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd were given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend was Wednesday, May 1st. Entergy’s dividend payout ratio is presently 45.34%.

Entergy Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It 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.