Louisiana State Employees Retirement System Has $1.58 Million Stock Position in Entergy Co. (NYSE:ETR)

Louisiana State Employees Retirement System reduced its position in shares of Entergy Co. (NYSE:ETR) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,000 shares of the utilities provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Entergy were worth $1,579,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ETR. Sumitomo Mitsui Trust Holdings Inc. raised its position in Entergy by 0.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 511,645 shares of the utilities provider’s stock valued at $54,071,000 after purchasing an additional 1,992 shares in the last quarter. Norden Group LLC acquired a new position in shares of Entergy during the first quarter worth $3,298,000. Van ECK Associates Corp increased its holdings in shares of Entergy by 55.6% during the first quarter. Van ECK Associates Corp now owns 74,685 shares of the utilities provider’s stock worth $7,893,000 after buying an additional 26,690 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Entergy by 32.1% during the first quarter. Private Advisor Group LLC now owns 6,195 shares of the utilities provider’s stock worth $655,000 after buying an additional 1,505 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Entergy by 4.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,366 shares of the utilities provider’s stock worth $4,042,000 after buying an additional 1,634 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Entergy

In other news, insider Eliecer Viamontes sold 5,166 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the transaction, the insider now owns 5,117 shares of the company’s stock, valued at $614,040. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Peter S. Norgeot, Jr. sold 11,472 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.16, for a total value of $1,321,115.52. Following the transaction, the chief operating officer now owns 37,888 shares of the company’s stock, valued at approximately $4,363,182.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $120.00, for a total transaction of $619,920.00. Following the completion of the transaction, the insider now directly owns 5,117 shares in the company, valued at approximately $614,040. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,810 shares of company stock valued at $6,140,626 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. KeyCorp upped their price target on shares of Entergy from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Bank of America increased their price objective on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Argus upgraded Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Morgan Stanley increased their price objective on Entergy from $109.00 to $115.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Finally, Guggenheim increased their price objective on Entergy from $118.00 to $128.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.19.

Entergy Stock Performance

Shares of ETR opened at $154.75 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $33.09 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74. The firm’s fifty day simple moving average is $129.20 and its two-hundred day simple moving average is $116.82. Entergy Co. has a 12 month low of $94.63 and a 12 month high of $156.85.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Entergy had a net margin of 14.75% and a return on equity of 10.10%. During the same quarter in the prior year, the firm earned $1.84 EPS. As a group, analysts predict that Entergy Co. will post 7.21 EPS for the current year.

Entergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 13th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Wednesday, November 13th. This is a boost from Entergy’s previous quarterly dividend of $1.13. Entergy’s dividend payout ratio is 54.07%.

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.