California State Teachers Retirement System Has $30.06 Million Stake in Entergy Co. (NYSE:ETR)

California State Teachers Retirement System reduced its position in shares of Entergy Co. (NYSE:ETR) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,405 shares of the utilities provider’s stock after selling 11,081 shares during the period. California State Teachers Retirement System owned approximately 0.13% of Entergy worth $30,056,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ETR. Capital International Investors raised its position in Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after purchasing an additional 1,630,057 shares in the last quarter. Norges Bank acquired a new position in Entergy during the fourth quarter valued at approximately $127,675,000. Confluence Investment Management LLC bought a new stake in shares of Entergy during the first quarter worth $92,257,000. Franklin Resources Inc. grew its stake in shares of Entergy by 25.2% during the fourth quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock worth $400,901,000 after buying an additional 796,316 shares during the last quarter. Finally, ClearBridge Investments Ltd grew its stake in shares of Entergy by 29.3% during the fourth quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock worth $315,254,000 after buying an additional 706,059 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Entergy news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the sale, the insider now directly owns 2,479 shares of the company’s stock, valued at approximately $273,260.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the sale, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the completion of the sale, the insider now directly owns 2,479 shares of the company’s stock, valued at $273,260.17. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on ETR. BMO Capital Markets reduced their price objective on shares of Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Mizuho boosted their price objective on shares of Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Morgan Stanley reduced their price objective on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. KeyCorp boosted their price objective on shares of Entergy from $112.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $109.50 price objective (down previously from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $113.42.

Entergy Stock Down 0.3 %

Shares of NYSE ETR traded down $0.36 during trading on Wednesday, hitting $115.98. 1,877,740 shares of the company traded hands, compared to its average volume of 1,507,006. The business’s fifty day moving average is $108.56 and its 200 day moving average is $105.39. Entergy Co. has a fifty-two week low of $87.10 and a fifty-two week high of $117.00. The firm has a market capitalization of $24.77 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 2.16 and a beta of 0.71. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be issued a $1.13 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.90%. Entergy’s dividend payout ratio is presently 45.34%.

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.