State of Michigan Retirement System Has $8.83 Million Stake in Entergy Corporation (NYSE:ETR)

State of Michigan Retirement System raised its stake in shares of Entergy Corporation (NYSE:ETR) by 100.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 116,404 shares of the utilities provider’s stock after purchasing an additional 58,202 shares during the period. State of Michigan Retirement System’s holdings in Entergy were worth $8,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETR. Fortis Group Advisors LLC raised its position in shares of Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 172 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in Entergy during the 3rd quarter valued at approximately $27,000. Duncker Streett & Co. Inc. increased its position in Entergy by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares during the period. Riverview Trust Co raised its holdings in Entergy by 100.0% during the 4th quarter. Riverview Trust Co now owns 364 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 182 shares during the last quarter. Finally, IFS Advisors LLC acquired a new position in shares of Entergy in the 4th quarter worth approximately $30,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Entergy

In other Entergy news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the transaction, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. This trade represents a 60.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

Entergy Stock Performance

Shares of ETR stock opened at $84.69 on Thursday. Entergy Corporation has a 12 month low of $50.19 and a 12 month high of $88.38. The firm has a market capitalization of $36.45 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The firm has a fifty day simple moving average of $81.19 and a two-hundred day simple moving average of $73.10. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the previous year, the firm posted $0.26 earnings per share. Analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a $0.60 dividend. The ex-dividend date was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. Entergy’s dividend payout ratio is presently 98.77%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ETR. UBS Group increased their price objective on shares of Entergy from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Scotiabank lowered their price objective on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 7th. Evercore ISI boosted their price objective on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. LADENBURG THALM/SH SH raised Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price for the company in a research note on Thursday, January 30th. Finally, BMO Capital Markets boosted their price target on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $82.14.

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.