Alkeon Capital Management LLC Makes New $194.43 Million Investment in Entergy Corporation $ETR

Key Points

• Alkeon Capital Management LLC made a new investment in Entergy Corporation, purchasing 2,274,291 shares valued at approximately $194.43 million, representing about 0.53% of the company's stock.
• Entergy's earnings report showed an EPS of $1.05, exceeding analysts' expectations, with revenues of $3.02 billion for the quarter.
• The company recently announced a quarterly dividend of $0.60 per share, with a dividend yield of 2.7%, as the stock demonstrates stable growth potential.

Alkeon Capital Management LLC bought a new stake in shares of Entergy Corporation (NYSE:ETR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,274,291 shares of the utilities provider's stock, valued at approximately $194,429,000. Alkeon Capital Management LLC owned about 0.53% of Entergy as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ETR. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Entergy in the first quarter worth approximately $28,000. Grove Bank & Trust lifted its position in shares of Entergy by 188.5% during the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock worth $30,000 after purchasing an additional 230 shares during the last quarter. Glen Eagle Advisors LLC grew its holdings in shares of Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Entergy in the 1st quarter worth about $32,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in Entergy in the 4th quarter valued at about $30,000. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ETR shares. KeyCorp reiterated an "overweight" rating and issued a $96.00 target price (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. JPMorgan Chase & Co. upped 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. Barclays dropped their target price on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Raymond James Financial began coverage on shares of Entergy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. Finally, Morgan Stanley set a $86.00 price objective on shares of Entergy and gave the company an "outperform" rating in a report on Thursday, August 21st. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Entergy has an average rating of "Moderate Buy" and a consensus target price of $88.50.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by insiders.

Entergy Stock Down 0.0%

NYSE:ETR opened at $88.11 on Tuesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. The stock has a market capitalization of $39.33 billion, a P/E ratio of 21.95, a P/E/G ratio of 2.40 and a beta of 0.61. The company's 50-day simple moving average is $86.70 and its 200-day simple moving average is $84.37. Entergy Corporation has a fifty-two week low of $59.05 and a fifty-two week high of $92.40.

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. On average, equities analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

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

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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