Yaupon Capital Management LP Purchases Shares of 581,185 Entergy Corporation $ETR

Key Points

• Yaupon Capital Management LP acquired 581,185 shares of Entergy Corporation, valued at approximately $49.7 million, making it the 6th largest position in their portfolio.
• Several institutional investors, including Millennium Management LLC and TD Asset Management Inc, significantly increased their stakes in Entergy, with Millennium raising its position by 474%.
• Entergy's latest earnings report showed an EPS of $1.05, surpassing estimates, and the company announced a quarterly dividend of $0.60 per share, reflecting an annual yield of 2.8%.

Yaupon Capital Management LP bought a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 581,185 shares of the utilities provider's stock, valued at approximately $49,686,000. Entergy makes up about 2.5% of Yaupon Capital Management LP's portfolio, making the stock its 6th biggest position. Yaupon Capital Management LP owned 0.13% of Entergy at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Zimmer Partners LP increased its position in Entergy by 285.5% during the 1st quarter. Zimmer Partners LP now owns 1,133,474 shares of the utilities provider's stock worth $96,901,000 after purchasing an additional 839,474 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Entergy during the first quarter worth $32,658,000. Empowered Funds LLC lifted its stake in shares of Entergy by 369.8% in the 1st quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider's stock valued at $7,352,000 after acquiring an additional 67,696 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Entergy during the 1st quarter valued at $322,000. Finally, Ascent Group LLC grew its position in Entergy by 2.2% during the 1st quarter. Ascent Group LLC now owns 39,814 shares of the utilities provider's stock worth $3,404,000 after acquiring an additional 841 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETR has been the subject of several research reports. Raymond James Financial assumed coverage on Entergy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. JPMorgan Chase & Co. upped their price objective on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Barclays cut their target price on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Mizuho set a $97.00 price target on shares of Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley set a $86.00 price target on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday, August 21st. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Entergy has a consensus rating of "Moderate Buy" and a consensus target price of $89.87.

Entergy Trading Up 0.5%

NYSE ETR traded up $0.46 during mid-day trading on Friday, reaching $90.32. 2,082,846 shares of the stock were exchanged, compared to its average volume of 3,447,196. The stock has a market cap of $40.32 billion, a P/E ratio of 22.50, a P/E/G ratio of 2.41 and a beta of 0.61. 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 Corporation has a one year low of $62.31 and a one year high of $92.40. The stock has a 50 day simple moving average of $87.60 and a 200-day simple moving average of $84.51.

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

Entergy Announces Dividend

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

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the 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 transaction, the insider owned 3,318 shares of the company's stock, valued at $300,279. This represents a 57.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.39% of the company's stock.

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.