Seven Grand Managers LLC Buys Shares of 300,000 Entergy Corporation $ETR

Key Points

• Seven Grand Managers LLC purchased 300,000 shares of Entergy Corporation, valued at approximately $25.6 million, making Entergy the fifth largest holding in its portfolio.
• Entergy announced a quarterly dividend of $0.60 per share, set to be paid on September 2nd, with a dividend yield of 2.7%.
• The company's recent earnings report showed an EPS of $1.05, surpassing analysts' expectations and indicating a strong performance despite revenue falling short of estimates.

Seven Grand Managers LLC acquired a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 300,000 shares of the utilities provider's stock, valued at approximately $25,647,000. Entergy accounts for about 6.0% of Seven Grand Managers LLC's holdings, making the stock its 5th largest holding. Seven Grand Managers LLC owned approximately 0.07% of Entergy at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ETR. Bank of America Corp DE raised its holdings in shares of Entergy by 142.8% during the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after purchasing an additional 10,347,926 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after purchasing an additional 5,368,396 shares during the last quarter. Capital International Investors raised its holdings in shares of Entergy by 103.6% during the fourth quarter. Capital International Investors now owns 7,773,654 shares of the utilities provider's stock worth $589,389,000 after purchasing an additional 3,956,122 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Entergy by 474.0% during the fourth quarter. Millennium Management LLC now owns 3,876,985 shares of the utilities provider's stock worth $293,953,000 after purchasing an additional 3,201,530 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Entergy by 964.8% during the first quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider's stock worth $261,232,000 after purchasing an additional 2,768,734 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the sale, the insider owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ETR shares. JPMorgan Chase & Co. raised their target price on shares of Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Raymond James Financial initiated coverage on shares of Entergy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. BMO Capital Markets upped their price objective on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Mizuho set a $97.00 price objective on shares of Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Barclays decreased their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.07.

Entergy Price Performance

Shares of ETR stock traded up $1.0190 on Wednesday, reaching $89.8290. 2,620,630 shares of the company were exchanged, compared to its average volume of 2,766,198. The company has a market cap of $40.10 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 2.42 and a beta of 0.57. The business has a 50-day moving average price of $85.54 and a 200 day moving average price of $83.99. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. Entergy Corporation has a 1 year low of $59.05 and a 1 year high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the prior year, the company earned $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Equities research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's dividend payout ratio is currently 59.85%.

Entergy 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.