California Public Employees Retirement System Sells 295,590 Shares of Entergy Corporation $ETR

California Public Employees Retirement System reduced its position in Entergy Corporation (NYSE:ETR) by 15.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,625,254 shares of the utilities provider’s stock after selling 295,590 shares during the quarter. California Public Employees Retirement System owned 0.36% of Entergy worth $135,091,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ETR. Mattson Financial Services LLC grew its position in Entergy by 100.0% during the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. Atwood & Palmer Inc. lifted its holdings in shares of Entergy by 135.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 190 shares during the last quarter. GoalVest Advisory LLC boosted its stake in shares of Entergy by 5,733.3% in the 2nd quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 344 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Entergy in the 2nd quarter valued at $30,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Entergy during the 2nd quarter valued at $31,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Down 0.2%

NYSE ETR opened at $94.27 on Monday. Entergy Corporation has a 1 year low of $73.15 and a 1 year high of $98.58. The stock has a market capitalization of $42.10 billion, a PE ratio of 23.28, a PEG ratio of 2.36 and a beta of 0.62. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.48. The business’s 50-day moving average is $95.56 and its 200 day moving average is $89.38.

Entergy (NYSE:ETR) last released its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share for the quarter. Entergy had a return on equity of 11.53% and a net margin of 14.26%.The business had revenue of $2.37 billion during the quarter. Sell-side analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.7%. This is an increase from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, November 13th. Entergy’s dividend payout ratio (DPR) is presently 63.21%.

Insider Buying and Selling at Entergy

In other Entergy news, insider Anastasia Minor sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the completion of the transaction, the insider directly owned 10,122 shares in the company, valued at approximately $975,659.58. This represents a 33.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ralph Lewis Ropp bought 1,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was bought at an average cost of $96.69 per share, with a total value of $96,690.00. Following the completion of the transaction, the director owned 1,050 shares in the company, valued at approximately $101,524.50. This trade represents a 2,000.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 10,179 shares of company stock valued at $981,707. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wall Street Zen downgraded shares of Entergy from a “hold” rating to a “sell” rating in a research note on Saturday. KeyCorp reissued an “overweight” rating and issued a $106.00 target price (up previously from $96.00) on shares of Entergy in a research note on Wednesday, October 15th. Royal Bank Of Canada upgraded Entergy to a “moderate buy” rating in a report on Tuesday, October 28th. Jefferies Financial Group initiated coverage on Entergy in a research report on Thursday, September 4th. They set a “buy” rating and a $109.00 price target on the stock. Finally, Evercore ISI lifted their price target on Entergy from $98.00 to $101.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and a consensus price target of $102.47.

About Entergy

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.