Bayforest Capital Ltd Buys 3,330 Shares of Entergy Corporation (NYSE:ETR)

Key Points

• Bayforest Capital Ltd significantly increased its stake in Entergy Corporation by 1,707.7%, acquiring an additional 3,330 shares, bringing its total holdings to 3,525 shares valued at approximately $301,000.
• Analysts have mixed expectations for Entergy's stock, with price targets varying from $87.00 to $102.00, and a consensus rating of "Moderate Buy" based on performance and expectations for earnings.
• Entergy recently reported a quarterly earnings per share of $1.05, exceeding analysts' expectations, and announced a quarterly dividend of $0.60 with a yield of 2.7%.

Bayforest Capital Ltd raised its stake in Entergy Corporation (NYSE:ETR - Free Report) by 1,707.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,525 shares of the utilities provider's stock after purchasing an additional 3,330 shares during the quarter. Bayforest Capital Ltd's holdings in Entergy were worth $301,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in Entergy in the first quarter valued at approximately $28,000. Grove Bank & Trust grew its stake in Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 230 shares in the last quarter. Glen Eagle Advisors LLC grew its stake in Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 180 shares in the last quarter. Legacy Investment Solutions LLC grew its stake in Entergy by 85.1% in the fourth quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 172 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc bought a new position in Entergy in the fourth quarter valued at approximately $29,000. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ETR shares. JPMorgan Chase & Co. raised their price objective on Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Barclays dropped their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Raymond James Financial began coverage on Entergy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. BMO Capital Markets increased their price target on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Mizuho set a $97.00 price target on Entergy and gave the company an "outperform" rating in a research note on Thursday. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Entergy has a consensus rating of "Moderate Buy" and an average target price of $88.07.

Entergy Stock Performance

NYSE:ETR opened at $90.48 on Friday. The stock has a market cap of $38.98 billion, a P/E ratio of 22.54, a PEG ratio of 2.43 and a beta of 0.59. The stock has a 50 day simple moving average of $83.41 and a 200 day simple moving average of $83.09. The company has a current ratio of 0.80, a quick ratio of 0.55 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 1-year low of $57.47 and a 1-year high of $91.46.

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 for the quarter, topping the consensus estimate of $0.91 by $0.14. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%. During the same period last year, the firm posted $1.92 EPS. Research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

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

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.

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