Strs Ohio Invests $30.01 Million in Entergy Corporation $ETR

Key Points

• Strs Ohio acquired 351,000 shares of Entergy Corporation, valued at approximately $30 million, representing about 0.08% of the company, according to a recent SEC filing.
• Entergy reported Q2 earnings of $1.05 per share, beating estimates of $0.91, although revenue for the quarter fell short of expectations at $3.02 billion.
• The company has declared a quarterly dividend of $0.60, yielding 2.7%, with a payout ratio of about 59.85%.

Strs Ohio bought a new position in Entergy Corporation (NYSE:ETR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 351,000 shares of the utilities provider's stock, valued at approximately $30,007,000. Strs Ohio owned 0.08% of Entergy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Entergy by 5.2% in the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock worth $4,687,331,000 after buying an additional 2,695,348 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Entergy by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider's stock worth $1,126,244,000 after purchasing an additional 289,468 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Entergy by 80.9% in the fourth quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock worth $354,317,000 after purchasing an additional 2,089,169 shares in the last quarter. Northern Trust Corp lifted its position in shares of Entergy by 3.4% in the first quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock worth $370,488,000 after purchasing an additional 143,187 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Entergy by 15.8% in the first 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 worth $284,380,000 after purchasing an additional 454,059 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Mizuho set a $97.00 price target on shares of Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Jefferies Financial Group assumed coverage on shares of Entergy in a research report on Thursday, September 4th. They issued a "buy" rating and a $109.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Raymond James Financial assumed coverage on shares of Entergy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. Finally, Morgan Stanley set a $86.00 price objective on shares of Entergy and gave the company an "outperform" rating in a research report on Thursday, August 21st. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.87.

Entergy Stock Performance

ETR stock traded up $0.46 during midday trading on Friday, hitting $90.32. 2,082,846 shares of the company traded hands, compared to its average volume of 2,287,449. Entergy Corporation has a twelve month low of $62.31 and a twelve month high of $92.40. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The business has a 50 day simple moving average of $87.76 and a 200-day simple moving average of $84.54. The stock has a market capitalization of $40.32 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61.

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

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.7%. The ex-dividend date was Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is 59.85%.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

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.