Aigen Investment Management LP Invests $3.44 Million in Entergy Corporation (NYSE:ETR)

Key Points

• Aigen Investment Management LP has invested approximately $3.44 million in Entergy Corporation, acquiring 40,182 shares, making it the firm's 24th largest position.
• Institutional investors own 88.07% of Entergy's stock, with notable positions being acquired by various funds including Mizuho Markets Americas LLC and Connor Clark & Lunn Investment Management.
• Entergy announced a quarterly dividend of $0.60 per share, with an annualized dividend yield of 2.7%, reflecting a payout ratio of 59.85%.

Aigen Investment Management LP bought a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,182 shares of the utilities provider's stock, valued at approximately $3,435,000. Entergy makes up approximately 0.6% of Aigen Investment Management LP's investment portfolio, making the stock its 24th largest position.

A number of other institutional investors and hedge funds have also modified their holdings of ETR. Bornite Capital Management LP acquired a new position in Entergy during the first quarter worth about $940,000. Entropy Technologies LP acquired a new position in Entergy during the first quarter worth about $2,701,000. Mizuho Markets Americas LLC boosted its position in Entergy by 19.0% during the first quarter. Mizuho Markets Americas LLC now owns 1,190,000 shares of the utilities provider's stock worth $101,733,000 after acquiring an additional 190,000 shares during the last quarter. True North Advisors LLC acquired a new position in Entergy during the first quarter worth about $405,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Entergy during the first quarter worth about $9,524,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction that occurred 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. This represents a 57.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is currently owned by insiders.

Entergy Stock Performance

Shares of ETR stock opened at $90.44 on Friday. The firm's 50 day moving average price is $84.36 and its 200-day moving average price is $83.49. 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 one year low of $57.65 and a one year high of $92.40. The firm has a market cap of $40.37 billion, a P/E ratio of 22.53, a P/E/G ratio of 2.46 and a beta of 0.57.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 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 firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the business posted $1.92 EPS. As a group, equities research analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The firm also recently announced 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 presently 59.85%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Barclays lowered their price target 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. BMO Capital Markets boosted their price target 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. KeyCorp restated an "overweight" rating and set a $96.00 price target (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Finally, Raymond James Financial initiated coverage on shares of Entergy in a report on Friday, June 13th. They issued a "market perform" rating on the stock. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Entergy presently has an average rating of "Moderate Buy" and an average price target of $88.07.

About Entergy

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.

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