TIAA Trust National Association Has $10.19 Million Stock Position in Entergy Corporation (NYSE:ETR)

Key Points

• TIAA Trust National Association has reduced its stake in Entergy Corporation by 33.5% in the first quarter, now owning 119,229 shares valued at approximately $10.2 million.
• Multiple large investors, including Bank of America and FMR LLC, significantly increased their holdings in Entergy in the fourth quarter, signaling confidence in the company's prospects.
• Entergy recently reported earnings of $1.05 per share, beating expectations, and declared a quarterly dividend of $0.60 per share for September.

TIAA Trust National Association cut its stake in Entergy Corporation (NYSE:ETR - Free Report) by 33.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,229 shares of the utilities provider's stock after selling 60,118 shares during the period. TIAA Trust National Association's holdings in Entergy were worth $10,193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETR. Glen Eagle Advisors LLC increased its holdings in Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 180 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Entergy in the 1st quarter valued at $28,000. Glass Jacobson Investment Advisors llc acquired a new stake in shares of Entergy in the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Entergy in the 4th quarter valued at $30,000. Finally, Grove Bank & Trust increased its stake in shares of Entergy by 188.5% in the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after buying an additional 230 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Trading Up 1.0%

ETR stock traded up $0.88 during midday trading on Wednesday, hitting $91.28. 370,992 shares of the company's stock were exchanged, compared to its average volume of 3,616,282. The stock's fifty day moving average price is $83.88 and its 200-day moving average price is $83.34. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. The company has a market cap of $40.75 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 2.49 and a beta of 0.57. Entergy Corporation has a one year low of $57.58 and a one year high of $92.40.

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

Entergy Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Raymond James Financial assumed coverage on Entergy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. Morgan Stanley decreased their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. JPMorgan Chase & Co. lifted their price objective on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. BMO Capital Markets lifted their price objective on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Mizuho set a $97.00 price objective on Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Entergy presently has an average rating of "Moderate Buy" and a consensus target price of $88.07.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the business's 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 sale, the insider directly owned 3,318 shares in the company, valued at $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

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.