Beacon Pointe Advisors LLC Purchases New Holdings in Entergy Corporation $ETR

Key Points

• Beacon Pointe Advisors initiated a position in Entergy by purchasing 19,234 shares valued at approximately $2.2 million. Institutional investors and hedge funds collectively own 88.07% of the utility company.
• Analysts remain broadly positive on Entergy, with 17 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $120.84.
• Entergy exceeded quarterly earnings and revenue estimates, reporting $1.03 in EPS and $3.52 billion in revenue. The company also announced a quarterly dividend of $0.64 per share, equivalent to a 2.4% annual yield.

Beacon Pointe Advisors LLC purchased a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,234 shares of the utilities provider's stock, valued at approximately $2,209,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Callan Family Office LLC bought a new stake in Entergy during the second quarter worth $3,250,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Entergy by 4.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 928,984 shares of the utilities provider's stock valued at $87,194,000 after purchasing an additional 38,742 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Entergy by 18.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 180,358 shares of the utilities provider's stock valued at $20,265,000 after purchasing an additional 27,868 shares during the last quarter. World Investment Advisors raised its holdings in shares of Entergy by 170.6% during the 4th quarter. World Investment Advisors now owns 60,579 shares of the utilities provider's stock worth $5,303,000 after buying an additional 38,195 shares in the last quarter. Finally, WealthShield Partners LLC acquired a new position in shares of Entergy during the 4th quarter worth $1,057,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ETR shares. BMO Capital Markets raised their price objective on Entergy from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Barclays reduced their price target on shares of Entergy from $124.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 3rd. Scotiabank reiterated a "sector outperform" rating on shares of Entergy in a research report on Wednesday, June 10th. Evercore reissued an "outperform" rating and issued a $128.00 price objective on shares of Entergy in a research note on Monday, August 17th. Finally, Citigroup reiterated a "neutral" rating and set a $121.00 price target (up from $116.00) on shares of Entergy in a report on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.84.

Entergy Price Performance

Shares of NYSE ETR opened at $105.77 on Friday. The company has a market capitalization of $49.36 billion, a PE ratio of 27.12, a P/E/G ratio of 1.81 and a beta of 0.50. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 1.73. Entergy Corporation has a twelve month low of $86.40 and a twelve month high of $118.44. The firm has a fifty day simple moving average of $111.05 and a 200 day simple moving average of $109.89.

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

Entergy Announces Dividend

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

Insiders Place Their Bets

In other 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 transaction of $1,170,180.00. Following the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp acquired 1,000 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were bought at an average cost of $106.08 per share, for a total transaction of $106,080.00. Following the transaction, the director directly owned 3,423 shares in the company, valued at approximately $363,111.84. This represents a 41.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

Entergy Company 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.

Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Corporation (NYSE:ETR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source