Kentucky Retirement Systems Trims Stake in Entergy Co. (NYSE:ETR)

Kentucky Retirement Systems cut its stake in Entergy Co. (NYSE:ETR) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,895 shares of the utilities provider’s stock after selling 1,196 shares during the period. Kentucky Retirement Systems’ holdings in Entergy were worth $1,960,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ETR. Quent Capital LLC boosted its position in shares of Entergy by 21.7% during the first quarter. Quent Capital LLC now owns 550 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 98 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Entergy by 37.7% during the 1st quarter. Blair William & Co. IL now owns 4,183 shares of the utilities provider’s stock valued at $442,000 after buying an additional 1,146 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Entergy by 55.4% in the 1st quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock worth $1,571,000 after buying an additional 5,303 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Entergy by 17.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 41,605 shares of the utilities provider’s stock worth $4,397,000 after acquiring an additional 6,197 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new position in Entergy during the 1st quarter valued at about $291,000. 88.07% of the stock is owned by institutional investors.

Entergy Stock Performance

Shares of NYSE ETR opened at $149.12 on Monday. Entergy Co. has a 12-month low of $96.15 and a 12-month high of $156.85. The firm has a market capitalization of $31.97 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 2.49 and a beta of 0.71. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77. The firm has a 50 day moving average of $135.02 and a 200 day moving average of $120.19.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the firm posted $3.27 EPS. On average, research analysts anticipate that Entergy Co. will post 7.21 earnings per share 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 is a boost from Entergy’s previous quarterly dividend of $1.13. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Wednesday, November 13th. Entergy’s payout ratio is presently 58.47%.

Insider Activity at Entergy

In related news, COO Peter S. Norgeot, Jr. sold 3,250 shares of Entergy stock in a transaction on Monday, September 9th. The shares were sold at an average price of $122.56, for a total transaction of $398,320.00. Following the transaction, the chief operating officer now owns 34,993 shares in the company, valued at approximately $4,288,742.08. The trade was a 8.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the completion of the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,092,241.93. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,472 shares of company stock worth $5,076,328. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Argus upgraded shares of Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Guggenheim upped their price target on Entergy from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. KeyCorp lifted their price objective on Entergy from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their target price on Entergy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Mizuho raised their price target on Entergy from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

About Entergy

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.