California State Teachers Retirement System Purchases 60,628,930 Shares of Entergy Corporation $ETR

Key Points

• California State Teachers Retirement System bought an additional 60.6 million Entergy shares in the second quarter, raising its stake to 61.1 million shares, or approximately 13.1% of the company, valued at $7.02 billion.
• Wall Street remains broadly positive on Entergy, with 17 analysts rating the stock a Buy and three a Hold. The consensus rating is “Moderate Buy,” with an average price target of $120.84.
• Entergy exceeded quarterly earnings and revenue expectations, reporting $1.03 in EPS on $3.52 billion in revenue. The company maintains a quarterly dividend of $0.64 per share, equating to a 2.4% annualized yield.

California State Teachers Retirement System raised its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 11,763.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,144,343 shares of the utilities provider's stock after purchasing an additional 60,628,930 shares during the period. California State Teachers Retirement System owned approximately 13.10% of Entergy worth $7,023,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETR. Union Savings Bank bought a new stake in Entergy during the 4th quarter worth $28,000. Bell Investment Advisors Inc acquired a new position in shares of Entergy in the second quarter valued at approximately $28,000. Fairway Wealth LLC bought a new position in Entergy in the 1st quarter valued at approximately $30,000. Dynamic Wealth Strategies LLC acquired a new stake in Entergy during the 1st quarter worth approximately $30,000. Finally, Pingora Partners LLC acquired a new stake in Entergy during the 2nd quarter worth approximately $30,000. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ETR shares. Morgan Stanley set a $105.00 price target on shares of Entergy and gave the company an "equal weight" rating in a research report on Friday, August 21st. Jefferies Financial Group reiterated a "buy" rating on shares of Entergy in a report on Wednesday, June 10th. Scotiabank reissued a "sector outperform" rating on shares of Entergy in a research note on Wednesday, June 10th. Truist Financial set a $122.00 price objective on Entergy and gave the company a "buy" rating in a report on Thursday, August 13th. Finally, Evercore reaffirmed an "outperform" rating and set a $128.00 target price on shares of Entergy in a research report on Monday, August 17th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.84.

Entergy Trading Up 1.2%

Shares of Entergy stock opened at $108.52 on Wednesday. The company has a market capitalization of $50.64 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 2.40 and a beta of 0.49. The stock has a fifty day simple moving average of $110.01 and a 200 day simple moving average of $110.20. Entergy Corporation has a 12-month low of $86.49 and a 12-month high of $118.44. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.02. Entergy had a net margin of 13.40% and a return on equity of 10.53%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the firm earned $1.05 EPS. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. On average, sell-side analysts anticipate that Entergy Corporation will post 4.4 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th were given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 13th. Entergy's dividend payout ratio is presently 65.64%.

Insider Transactions at Entergy

In other news, Director Ralph Lewis Ropp acquired 1,000 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was purchased at an average price of $106.08 per share, for a total transaction of $106,080.00. Following the purchase, the director owned 3,423 shares in the company, valued at approximately $363,111.84. This represents a 41.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company's stock.

Entergy Company Profile

Entergy Corporation NYSE: ETR is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company's operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy's generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.

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