Illinois Municipal Retirement Fund Lowers Holdings in Entergy Co. (NYSE:ETR)

Illinois Municipal Retirement Fund trimmed its holdings in Entergy Co. (NYSE:ETR) by 68.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 39,972 shares of the utilities provider’s stock after selling 86,356 shares during the period. Illinois Municipal Retirement Fund’s holdings in Entergy were worth $4,045,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ETR. Global Retirement Partners LLC grew its position in Entergy by 34.4% in the third quarter. Global Retirement Partners LLC now owns 1,351 shares of the utilities provider’s stock worth $123,000 after acquiring an additional 346 shares during the period. HB Wealth Management LLC lifted its stake in Entergy by 17.5% during the third quarter. HB Wealth Management LLC now owns 2,912 shares of the utilities provider’s stock worth $269,000 after purchasing an additional 434 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in Entergy by 37.6% during the third quarter. DAVENPORT & Co LLC now owns 24,647 shares of the utilities provider’s stock worth $2,280,000 after purchasing an additional 6,734 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in Entergy by 8.1% during the third quarter. CreativeOne Wealth LLC now owns 4,333 shares of the utilities provider’s stock worth $401,000 after purchasing an additional 326 shares in the last quarter. Finally, Caprock Group LLC lifted its stake in Entergy by 4.9% during the third quarter. Caprock Group LLC now owns 4,024 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 189 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ETR has been the topic of a number of research reports. BMO Capital Markets upped their price target on Entergy from $110.00 to $113.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. KeyCorp upped their price target on Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Scotiabank reduced their price objective on Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research note on Monday. Barclays reduced their price objective on Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $117.00 target price on shares of Entergy in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.45.

Entergy Price Performance

Shares of NYSE:ETR opened at $106.46 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.57 and a debt-to-equity ratio of 1.57. The company has a market cap of $22.70 billion, a P/E ratio of 9.60, a PEG ratio of 2.12 and a beta of 0.71. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $109.53. The company has a 50-day moving average price of $103.13 and a 200 day moving average price of $100.53.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). Entergy had a net margin of 19.41% and a return on equity of 10.54%. The firm had revenue of $31.17 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the business earned $1.14 EPS. Entergy’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts predict that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.25%. Entergy’s payout ratio is 40.76%.

Insider Buying and Selling

In related news, EVP Kimberly Cook-Nelson sold 2,000 shares of Entergy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the completion of the transaction, the executive vice president now directly owns 16,037 shares in the company, valued at approximately $1,609,312.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Deanna D. Rodriguez sold 1,500 shares of Entergy stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $101.23, for a total transaction of $151,845.00. Following the completion of the transaction, the insider now directly owns 3,442 shares in the company, valued at approximately $348,433.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of Entergy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $100.35, for a total value of $200,700.00. Following the transaction, the executive vice president now owns 16,037 shares of the company’s stock, valued at $1,609,312.95. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $1,226,685 in the last ninety days. Insiders own 0.39% of the company’s stock.

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.