State Treasurer State of Michigan cut its position in Entergy Co. (NYSE:ETR) by 3.9% in the 4th quarter, Holdings Channel reports. The firm owned 51,815 shares of the utilities provider’s stock after selling 2,100 shares during the period. State Treasurer State of Michigan’s holdings in Entergy were worth $4,460,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its stake in Entergy by 0.4% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 235,707 shares of the utilities provider’s stock worth $20,287,000 after purchasing an additional 1,024 shares during the period. Rhumbline Advisers boosted its holdings in Entergy by 3.1% in the fourth quarter. Rhumbline Advisers now owns 342,940 shares of the utilities provider’s stock worth $29,517,000 after acquiring an additional 10,334 shares in the last quarter. First Interstate Bank boosted its holdings in Entergy by 37.8% in the fourth quarter. First Interstate Bank now owns 1,191 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 327 shares in the last quarter. Keybank National Association OH boosted its holdings in Entergy by 4.0% in the fourth quarter. Keybank National Association OH now owns 5,131 shares of the utilities provider’s stock worth $442,000 after acquiring an additional 196 shares in the last quarter. Finally, DT Investment Partners LLC boosted its holdings in Entergy by 0.7% in the fourth quarter. DT Investment Partners LLC now owns 39,253 shares of the utilities provider’s stock worth $3,379,000 after acquiring an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.
Several research analysts have issued reports on ETR shares. Citigroup increased their price target on Entergy from $88.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, October 17th. Bank of America increased their price target on Entergy from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research reiterated a “strong-buy” rating and issued a $97.00 price target on shares of Entergy in a report on Tuesday, November 13th. ValuEngine upgraded Entergy from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $91.00 price target on shares of Entergy in a report on Wednesday, January 23rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Entergy has a consensus rating of “Buy” and a consensus price target of $89.88.
In related news, EVP Marcus V. Brown sold 28,200 shares of Entergy stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,538,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew S. Marsh sold 8,000 shares of Entergy stock in a transaction on Friday, January 25th. The stock was sold at an average price of $88.14, for a total value of $705,120.00. Following the sale, the chief financial officer now owns 76,343 shares in the company, valued at $6,728,872.02. The disclosure for this sale can be found here. Insiders have sold 122,460 shares of company stock worth $10,743,372 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.
Shares of Entergy stock opened at $90.82 on Friday. The firm has a market cap of $16.35 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 2.30 and a beta of 0.39. Entergy Co. has a 12 month low of $72.14 and a 12 month high of $90.82. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.49 and a current ratio of 0.64.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 14th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, February 13th. This represents a $3.64 dividend on an annualized basis and a yield of 4.01%. Entergy’s dividend payout ratio (DPR) is currently 50.56%.
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Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. The company's Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and distributes natural gas.
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