42,324,362 Shares in Entergy Corporation $ETR Bought by BlackRock Inc.

Key Points

• BlackRock acquired 42.3 million Entergy shares worth approximately $4.86 billion, giving it a 9.07% stake. Institutional investors collectively own 88.07% of the utility company.
• Analysts maintain a generally positive outlook, with 17 Buy ratings, two Holds and one Sell; Entergy has a “Moderate Buy” consensus rating and an average price target of $121.05 versus its $108.28 share price.
• Entergy reported quarterly EPS of $1.03 and revenue of $3.52 billion, slightly exceeding estimates, and declared a quarterly dividend of $0.64 per share, yielding about 2.4% annually.

BlackRock Inc. bought a new stake in shares of Entergy Corporation (NYSE:ETR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 42,324,362 shares of the utilities provider's stock, valued at approximately $4,861,376,000. BlackRock Inc. owned approximately 9.07% of Entergy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ETR. United Community Bank lifted its holdings in shares of Entergy by 806.7% in the 4th quarter. United Community Bank now owns 272 shares of the utilities provider's stock worth $25,000 after buying an additional 242 shares during the period. Washington Trust Advisors Inc. lifted its position in Entergy by 119.4% during the fourth quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 154 shares during the period. Union Savings Bank purchased a new position in shares of Entergy during the 4th quarter valued at approximately $28,000. Bell Investment Advisors Inc purchased a new position in shares of Entergy in the 2nd quarter valued at about $28,000. Finally, Fairway Wealth LLC acquired a new stake in Entergy in the 1st quarter valued at $30,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ETR has been the subject of several recent research reports. BTIG Research reaffirmed a "buy" rating and issued a $126.00 price target on shares of Entergy in a report on Wednesday, June 10th. Barclays cut their price objective on Entergy from $124.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 3rd. KeyCorp reaffirmed an "overweight" rating and set a $123.00 price target (up from $118.00) on shares of Entergy in a report on Tuesday, April 21st. Truist Financial set a $122.00 price objective on shares of Entergy and gave the stock a "buy" rating in a report on Thursday, August 13th. Finally, Citigroup reiterated a "neutral" rating and issued a $121.00 price objective (up from $116.00) on shares of Entergy in a research note on Tuesday, May 5th. Seventeen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Entergy has an average rating of "Moderate Buy" and an average target price of $121.05.

Entergy Trading Down 0.2%

Shares of ETR opened at $108.28 on Wednesday. Entergy Corporation has a 1-year low of $86.40 and a 1-year high of $118.44. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $111.78 and a 200-day simple moving average of $109.43. The stock has a market cap of $50.53 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.84 and a beta of 0.50.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.02. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.49 billion. Entergy had a net margin of 13.40% and a return on equity of 10.53%. During the same period in the previous year, the firm posted $1.05 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. Equities analysts forecast that Entergy Corporation will post 4.4 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Thursday, August 13th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 13th. Entergy's dividend payout ratio is 65.64%.

Insider Buying and Selling at Entergy

In related news, Director Ralph Lewis Ropp acquired 1,000 shares of the business's stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $106.08 per share, with a total value of $106,080.00. Following the completion of the transaction, the director directly owned 3,423 shares of the company's stock, valued at $363,111.84. This trade represents a 41.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 10,638 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total value of $1,170,180.00. Following the transaction, the insider directly owned 14,182 shares in the company, valued at $1,560,020. This trade represents a 42.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is currently owned by corporate insiders.

Entergy Company Profile

Entergy Corporation NYSE: ETR is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company's operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy's generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.

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