Retirement Systems of Alabama Reduces Stock Position in Entergy Corporation $ETR

Retirement Systems of Alabama reduced its holdings in shares of Entergy Corporation (NYSE:ETR) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 593,459 shares of the utilities provider’s stock after selling 5,216 shares during the quarter. Retirement Systems of Alabama’s holdings in Entergy were worth $49,328,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Entergy by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider’s stock valued at $4,687,331,000 after buying an additional 2,695,348 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Entergy by 2.2% during the 1st quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider’s stock valued at $1,126,244,000 after buying an additional 289,468 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Entergy by 3.4% during the 1st quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider’s stock valued at $370,488,000 after buying an additional 143,187 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Entergy by 12.6% during the 2nd quarter. TD Asset Management Inc now owns 3,442,042 shares of the utilities provider’s stock valued at $286,103,000 after buying an additional 386,344 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Entergy by 15.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,326,466 shares of the utilities provider’s stock valued at $284,380,000 after buying an additional 454,059 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ETR. Scotiabank set a $105.00 target price on shares of Entergy and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Entergy in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Entergy to a “strong-buy” rating in a research note on Tuesday. BTIG Research upgraded shares of Entergy to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Mizuho increased their target price on shares of Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.94.

Entergy Price Performance

Shares of NYSE:ETR opened at $95.31 on Thursday. The company’s fifty day moving average price is $92.03 and its 200-day moving average price is $87.01. The firm has a market capitalization of $42.55 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 2.39 and a beta of 0.62. Entergy Corporation has a one year low of $66.85 and a one year high of $98.58. 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) last issued its quarterly earnings results on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The firm had revenue of $2.37 billion for the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. On average, equities research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

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.