California Public Employees Retirement System Sells 8,431 Shares of Entergy Co. (NYSE:ETR)

California Public Employees Retirement System reduced its position in Entergy Co. (NYSE:ETRGet Rating) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,501,711 shares of the utilities provider’s stock after selling 8,431 shares during the quarter. California Public Employees Retirement System owned about 0.75% of Entergy worth $175,325,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ETR. Mutual of America Capital Management LLC grew its holdings in shares of Entergy by 1.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 41,402 shares of the utilities provider’s stock valued at $4,834,000 after purchasing an additional 753 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Entergy in the 4th quarter worth approximately $20,667,000. Atria Investments LLC lifted its position in shares of Entergy by 6.9% in the 1st quarter. Atria Investments LLC now owns 10,183 shares of the utilities provider’s stock worth $1,189,000 after purchasing an additional 661 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Entergy by 6.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 16,335 shares of the utilities provider’s stock worth $1,907,000 after purchasing an additional 1,000 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Entergy during the 1st quarter valued at $6,160,000. 88.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Entergy

In other Entergy news, COO Paul D. Hinnenkamp sold 6,500 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $120.94, for a total transaction of $786,110.00. Following the sale, the chief operating officer now directly owns 26,102 shares of the company’s stock, valued at $3,156,775.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Deanna D. Rodriguez sold 256 shares of the stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $120.22, for a total value of $30,776.32. Following the sale, the insider now directly owns 3,108 shares of the company’s stock, valued at $373,643.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Paul D. Hinnenkamp sold 6,500 shares of the stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $120.94, for a total transaction of $786,110.00. Following the completion of the sale, the chief operating officer now directly owns 26,102 shares in the company, valued at $3,156,775.88. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ETR. Credit Suisse Group dropped their target price on shares of Entergy from $136.00 to $114.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 21st. The Goldman Sachs Group set a $224.00 target price on shares of Entergy in a research note on Monday, May 16th. Baader Bank set a $188.00 target price on shares of Entergy in a research note on Wednesday, May 18th. Wells Fargo & Company reduced their target price on shares of Entergy from $140.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, June 21st. Finally, Mizuho reduced their target price on shares of Entergy from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $121.93.

Entergy Price Performance

ETR opened at $111.06 on Thursday. The firm has a market cap of $22.59 billion, a P/E ratio of 21.19, a PEG ratio of 2.61 and a beta of 0.60. The firm has a 50-day moving average of $112.69 and a 200 day moving average of $113.20. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.49 and a current ratio of 0.72. Entergy Co. has a fifty-two week low of $98.50 and a fifty-two week high of $126.82.

Entergy (NYSE:ETRGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The utilities provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.06). The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.90 billion. Entergy had a net margin of 8.99% and a return on equity of 10.44%. During the same quarter in the previous year, the company posted $1.47 EPS. On average, research analysts expect that Entergy Co. will post 6.36 EPS for the current year.

About Entergy

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Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.

Further Reading

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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