State Board of Administration of Florida Retirement System Boosts Stock Holdings in Entergy Co. (NYSE:ETR)

State Board of Administration of Florida Retirement System grew its position in shares of Entergy Co. (NYSE:ETR) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 254,185 shares of the utilities provider’s stock after acquiring an additional 13,069 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.13% of Entergy worth $26,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Coastal Investment Advisors Inc. boosted its holdings in Entergy by 142.0% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,125 shares of the utilities provider’s stock worth $219,000 after acquiring an additional 1,247 shares during the last quarter. Lantz Financial LLC boosted its holdings in Entergy by 1.8% during the 2nd quarter. Lantz Financial LLC now owns 13,480 shares of the utilities provider’s stock worth $1,398,000 after acquiring an additional 239 shares during the last quarter. 6 Meridian boosted its holdings in shares of Entergy by 1.9% in the 2nd quarter. 6 Meridian now owns 5,606 shares of the utilities provider’s stock worth $577,000 after buying an additional 104 shares during the last quarter. Bluescape Energy Partners LLC purchased a new position in shares of Entergy in the 2nd quarter worth about $26,176,000. Finally, Greenleaf Trust purchased a new position in shares of Entergy in the 1st quarter worth about $209,000. 83.49% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Sallie T. Rainer sold 1,100 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $102.00, for a total value of $112,200.00. Following the sale, the insider now directly owns 4,097 shares in the company, valued at approximately $417,894. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Leo P. Denault sold 24,211 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $2,663,210.00. The disclosure for this sale can be found here. Insiders sold a total of 116,313 shares of company stock worth $12,299,975 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on ETR. Macquarie set a $100.00 price target on shares of Entergy and gave the stock a “buy” rating in a report on Thursday, May 2nd. ValuEngine raised shares of Entergy from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. UBS Group set a $115.00 price target on shares of Entergy and gave the stock a “buy” rating in a report on Monday, July 15th. Zacks Investment Research downgraded shares of Entergy from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Morgan Stanley boosted their price target on shares of Entergy from $111.00 to $114.00 and gave the stock an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $99.78.

Shares of NYSE:ETR traded up $0.26 during midday trading on Friday, reaching $111.57. The company had a trading volume of 50,502 shares, compared to its average volume of 1,326,596. The company’s 50 day moving average price is $106.12 and its 200 day moving average price is $98.42. The company has a current ratio of 0.73, a quick ratio of 0.52 and a debt-to-equity ratio of 1.76. The stock has a market cap of $21.91 billion, a P/E ratio of 15.26, a P/E/G ratio of 2.99 and a beta of 0.34. Entergy Co. has a 52-week low of $78.99 and a 52-week high of $111.78.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $1.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.03). Entergy had a return on equity of 13.75% and a net margin of 8.97%. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the firm posted $1.42 earnings per share. Research analysts forecast that Entergy Co. will post 5.27 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 8th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Wednesday, August 7th. Entergy’s dividend payout ratio is currently 49.79%.

Entergy Profile

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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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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