Advisors Asset Management Inc. Purchases 8,691 Shares of Entergy Corporation $ETR

Key Points

• Advisors Asset Management Inc. increased its stake in Entergy Corporation by 9.8%, purchasing an additional 8,691 shares to own a total of 97,719 shares valued at approximately $8.35 million.
• Institutional ownership of Entergy stands at 88.07%, with notable increases from firms like Vanguard Group and Millennium Management, raising their stakes significantly during the recent quarters.
• Entergy recently announced a quarterly dividend of $0.60 per share, equating to an annual yield of 2.8%, with a payout ratio of 59.85%.

Advisors Asset Management Inc. grew its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 9.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,719 shares of the utilities provider's stock after acquiring an additional 8,691 shares during the period. Advisors Asset Management Inc.'s holdings in Entergy were worth $8,354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Entergy by 5.2% during the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock valued at $4,687,331,000 after acquiring an additional 2,695,348 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Entergy by 2.2% during the first quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider's stock valued at $1,126,244,000 after acquiring an additional 289,468 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Entergy by 80.9% during the fourth quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock valued at $354,317,000 after acquiring an additional 2,089,169 shares in the last quarter. Northern Trust Corp raised its stake in shares of Entergy by 3.4% during the first quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock valued at $370,488,000 after acquiring an additional 143,187 shares in the last quarter. Finally, Millennium Management LLC raised its stake 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 valued at $293,953,000 after acquiring an additional 3,201,530 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ETR shares. JPMorgan Chase & Co. boosted their price objective on shares of Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Morgan Stanley set a $86.00 price objective on shares of Entergy and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Raymond James Financial started coverage on shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. Barclays reduced their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Finally, KeyCorp reissued an "overweight" rating and issued a $96.00 price objective (up previously from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.50.

Entergy Price Performance

NYSE ETR opened at $87.15 on Thursday. The firm's fifty day simple moving average is $86.91 and its two-hundred day simple moving average is $84.41. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 12-month low of $60.00 and a 12-month high of $92.40. The firm has a market capitalization of $38.90 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.40 and a beta of 0.61.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the company earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's payout ratio is currently 59.85%.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the sale, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.47% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.