Public Sector Pension Investment Board Has $9.80 Million Holdings in Entergy Corporation $ETR

Key Points

• The Public Sector Pension Investment Board raised its stake in Entergy Corporation by 3.0% in the 1st quarter, owning a total of 114,645 shares valued at approximately $9.8 million.
• Entergy reported $1.05 EPS for the last quarter, beating the consensus estimate by $0.14, with a revenue of $3.02 billion, slightly below expectations.
• Entergy's quarterly dividend of $0.60 will be paid on September 2nd, with a yield of 2.6% and a payout ratio of 59.85%.

Public Sector Pension Investment Board raised its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,645 shares of the utilities provider's stock after buying an additional 3,336 shares during the period. Public Sector Pension Investment Board's holdings in Entergy were worth $9,801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Entergy by 5.2% during the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock worth $4,687,331,000 after buying an additional 2,695,348 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Entergy by 142.8% in the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after purchasing an additional 10,347,926 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after acquiring an additional 5,368,396 shares during the period. Capital International Investors lifted its stake in shares of Entergy by 103.6% during the fourth quarter. Capital International Investors now owns 7,773,654 shares of the utilities provider's stock valued at $589,389,000 after acquiring an additional 3,956,122 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of Entergy by 58.8% during the fourth quarter. Capital Research Global Investors now owns 6,375,510 shares of the utilities provider's stock valued at $483,391,000 after acquiring an additional 2,359,445 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analyst Weigh In

ETR has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Raymond James Financial assumed coverage on Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. Morgan Stanley lowered their target price on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. KeyCorp reaffirmed an "overweight" rating and set a $96.00 target price (up previously from $88.00) on shares of Entergy in a report on Thursday, July 31st. Finally, BMO Capital Markets lifted their target price on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Entergy has an average rating of "Moderate Buy" and an average price target of $88.07.

Entergy Trading Down 1.5%

Shares of Entergy stock traded down $1.32 during trading hours on Monday, hitting $87.81. The company's stock had a trading volume of 642,781 shares, compared to its average volume of 3,555,234. Entergy Corporation has a 12 month low of $58.79 and a 12 month high of $92.40. The stock has a 50 day moving average of $85.15 and a 200 day moving average of $83.87. The company has a market capitalization of $39.20 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 2.42 and a beta of 0.57. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.14. Entergy had a return on equity of 11.52% and a net margin of 14.35%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the company earned $1.92 earnings per share. Analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.7%. Entergy's dividend payout ratio is presently 59.85%.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the transaction, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company's stock.

Entergy Company 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.