Entergy Corporation (NYSE:ETR) Shares Sold by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in Entergy Corporation by 12.5%, owning 19,929 shares valued at approximately $1.7 million as of the end of the 1st quarter.
• Several institutional investors, including Vanguard Group Inc. and Bank of America, significantly increased their stakes in Entergy during the previous quarters, contributing to a total institutional ownership of 88.07%.
• Entergy recently announced a quarterly dividend of $0.60 per share, representing an annualized yield of 2.7% and a payout ratio of 59.85%.

Maryland State Retirement & Pension System decreased its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,929 shares of the utilities provider's stock after selling 2,836 shares during the quarter. Maryland State Retirement & Pension System's holdings in Entergy were worth $1,704,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Glen Eagle Advisors LLC increased its stake in Entergy by 100.0% during the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Entergy during the first quarter worth about $28,000. Glass Jacobson Investment Advisors llc purchased a new stake in Entergy during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC purchased a new stake in Entergy during the fourth quarter worth about $30,000. Finally, Grove Bank & Trust increased its stake in Entergy by 188.5% during the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock worth $30,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on ETR shares. Morgan Stanley cut their price target on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Mizuho set a $97.00 price target on Entergy and gave the company an "outperform" rating in a report on Thursday, July 31st. BMO Capital Markets increased their price objective on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. KeyCorp reissued an "overweight" rating and issued a $96.00 price objective (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. Finally, Barclays cut their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.07.

Entergy Price Performance

Shares of ETR stock traded up $0.06 during mid-day trading on Wednesday, reaching $90.95. The stock had a trading volume of 1,789,824 shares, compared to its average volume of 3,578,420. The business has a 50-day simple moving average of $84.66 and a 200 day simple moving average of $83.61. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 12-month low of $58.19 and a 12-month high of $92.40. The company has a market cap of $40.60 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 2.45 and a beta of 0.57.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. Entergy had a return on equity of 11.52% and a net margin of 14.35%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the company earned $1.92 EPS. On average, sell-side analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's payout ratio is currently 59.85%.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. The trade was a 57.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

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.