Bank of Nova Scotia Buys New Position in Entergy Corporation $ETR

Bank of Nova Scotia bought a new stake in Entergy Corporation (NYSE:ETR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 48,125 shares of the utilities provider's stock, valued at approximately $5,528,000.

Other large investors have also recently bought and sold shares of the company. United Community Bank boosted its stake in shares of Entergy by 806.7% during 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 last quarter. Washington Trust Advisors Inc. increased its position in shares of Entergy by 119.4% in the fourth quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 154 shares during the last quarter. Union Savings Bank acquired a new stake in shares of Entergy in the fourth quarter valued at about $28,000. Bell Investment Advisors Inc bought a new stake in Entergy during the second quarter worth about $28,000. Finally, Fairway Wealth LLC bought a new stake in Entergy during the first quarter worth about $30,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ETR shares. JPMorgan Chase & Co. raised their target price on shares of Entergy from $129.00 to $139.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Scotiabank reiterated a "sector outperform" rating on shares of Entergy in a research note on Wednesday, June 10th. Mizuho set a $122.00 price objective on shares of Entergy and gave the stock an "outperform" rating in a research note on Wednesday, June 10th. Truist Financial set a $122.00 target price on shares of Entergy and gave the company a "buy" rating in a report on Thursday, August 13th. Finally, Morgan Stanley set a $105.00 target price on shares of Entergy and gave the company an "equal weight" rating in a research note on Friday. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.84.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 10,638 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were 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 approximately $1,560,020. This represents a 42.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp purchased 1,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average cost of $106.08 per share, for a total transaction of $106,080.00. Following the completion of the transaction, the director 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 disclosure for this purchase is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

Entergy Stock Performance

Shares of ETR stock opened at $106.28 on Wednesday. The company has a market capitalization of $49.59 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.81 and a beta of 0.50. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.70 and a current ratio of 0.91. The company has a 50-day simple moving average of $111.32 and a 200 day simple moving average of $109.79. Entergy Corporation has a 52 week low of $86.40 and a 52 week high of $118.44.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.02. Entergy had a net margin of 13.40% and a return on equity of 10.53%. The firm had revenue of $3.52 billion for the quarter, compared to analysts' expectations of $3.49 billion. During the same period in the prior year, the firm earned $1.05 EPS. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. On average, sell-side analysts predict that Entergy Corporation will post 4.4 earnings per share for the current year.

Entergy Dividend Announcement

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

Entergy 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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