Retirement Systems of Alabama Raises Position in Entergy Corp. (ETR)
Retirement Systems of Alabama boosted its position in shares of Entergy Corp. (NYSE:ETR) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,126 shares of the company’s stock after buying an additional 1,227 shares during the period. Retirement Systems of Alabama’s holdings in Entergy Corp. were worth $7,413,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Iowa State Bank purchased a new stake in Entergy Corp. during the second quarter worth $103,000. Nikko Asset Management Americas Inc. bought a new position in Entergy Corp. during the first quarter worth approximately $111,000. Washington Trust Bank increased its position in Entergy Corp. by 11.5% in the second quarter. Washington Trust Bank now owns 1,936 shares of the company’s stock worth $157,000 after buying an additional 199 shares during the period. Juncture Wealth Strategies LLC increased its position in Entergy Corp. by 26.9% in the second quarter. Juncture Wealth Strategies LLC now owns 3,300 shares of the company’s stock worth $268,000 after buying an additional 700 shares during the period. Finally, MIG Capital LLC increased its position in Entergy Corp. by 4.1% in the first quarter. MIG Capital LLC now owns 3,434 shares of the company’s stock worth $272,000 after buying an additional 136 shares during the period. 85.22% of the stock is owned by institutional investors and hedge funds.
Entergy Corp. (NYSE:ETR) traded down 0.92% during trading on Friday, hitting $73.13. 1,952,013 shares of the stock were exchanged. Entergy Corp. has a 1-year low of $64.11 and a 1-year high of $82.09. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 75.55 and a beta of 0.38. The firm’s 50 day moving average price is $78.14 and its 200-day moving average price is $78.03.
Entergy Corp. (NYSE:ETR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $1.05 by $2.06. Entergy Corp. had a return on equity of 15.34% and a net margin of 1.78%. During the same quarter in the previous year, the business posted $0.83 EPS. On average, analysts anticipate that Entergy Corp. will post $6.72 EPS for the current year.
ETR has been the topic of a number of recent research reports. Guggenheim upgraded shares of Entergy Corp. from a “neutral” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Monday, August 22nd. Deutsche Bank AG lowered their target price on shares of Entergy Corp. from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. lowered their target price on shares of Entergy Corp. from $83.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 4th. Ten analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $80.85.
In related news, insider Haley Fisackerly sold 1,250 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $77.60, for a total value of $97,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charles L. Rice, Jr. sold 760 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $79.36, for a total value of $60,313.60. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.
About Entergy Corp.
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. It operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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