Employees Retirement System of Texas Buys 595,900 Shares of Entergy Corporation (NYSE:ETR)

Employees Retirement System of Texas lifted its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 100.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,191,800 shares of the utilities provider's stock after acquiring an additional 595,900 shares during the quarter. Employees Retirement System of Texas owned approximately 0.28% of Entergy worth $90,362,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Entergy by 74.3% in the 4th quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider's stock valued at $50,869,000 after purchasing an additional 286,005 shares during the last quarter. Polymer Capital Management US LLC acquired a new stake in shares of Entergy during the 4th quarter valued at $11,462,000. Trek Financial LLC acquired a new position in shares of Entergy in the fourth quarter valued at approximately $3,151,000. FMR LLC raised its position in Entergy by 90.7% during the 4th quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock worth $956,273,000 after purchasing an additional 5,998,760 shares during the last quarter. Finally, Polymer Capital Management HK LTD bought a new stake in Entergy in the fourth quarter valued at approximately $1,079,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Price Performance

NYSE:ETR traded up $1.43 during trading hours on Friday, hitting $81.71. The stock had a trading volume of 3,384,251 shares, compared to its average volume of 3,694,283. The firm has a market capitalization of $35.20 billion, a price-to-earnings ratio of 33.55, a P/E/G ratio of 2.34 and a beta of 0.56. Entergy Corporation has a one year low of $50.19 and a one year high of $88.38. The company has a 50 day simple moving average of $83.48 and a two-hundred day simple moving average of $77.26. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59.

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Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share 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 for the quarter, compared to analysts' expectations of $3.24 billion. During the same period in the prior year, the business earned $0.26 earnings per share. Research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 2nd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy's payout ratio is currently 98.77%.

Analysts Set New Price Targets

Several analysts have recently commented on ETR shares. Barclays raised their target price on Entergy from $79.00 to $88.00 and gave the company an "overweight" rating in a research note on Tuesday. StockNews.com raised shares of Entergy from a "sell" rating to a "hold" rating in a report on Sunday, December 29th. Morgan Stanley increased their target price on shares of Entergy from $75.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price target on shares of Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Finally, Evercore ISI increased their price objective on shares of Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Entergy currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.25.

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.