Bornite Capital Management LP Makes New $48.98 Million Investment in Entergy Corporation $ETR

Bornite Capital Management LP purchased a new stake in shares of Entergy Corporation (NYSE:ETR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 426,400 shares of the utilities provider's stock, valued at approximately $48,976,000. Entergy makes up approximately 6.2% of Bornite Capital Management LP's portfolio, making the stock its 8th biggest position. Bornite Capital Management LP owned about 0.09% of Entergy as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ETR. Brighton Jones LLC increased its stake in Entergy by 275.6% during the 4th quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider's stock valued at $696,000 after purchasing an additional 6,733 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Entergy by 40.7% in the first quarter. Woodline Partners LP now owns 36,228 shares of the utilities provider's stock worth $3,097,000 after buying an additional 10,476 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Entergy in the second quarter worth approximately $6,869,000. Brown Advisory Inc. grew its holdings in shares of Entergy by 4.8% during the second quarter. Brown Advisory Inc. now owns 4,254 shares of the utilities provider's stock valued at $354,000 after buying an additional 193 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Entergy during the second quarter valued at approximately $17,225,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ETR. Evercore restated an "outperform" rating and issued a $128.00 price objective on shares of Entergy in a report on Monday, August 17th. Wall Street Zen lowered Entergy from a "hold" rating to a "sell" rating in a report on Sunday, August 9th. Mizuho set a $122.00 price target on Entergy and gave the stock an "outperform" rating in a research note on Wednesday, June 10th. Scotiabank reaffirmed a "sector outperform" rating on shares of Entergy in a report on Wednesday, June 10th. Finally, Truist Financial set a $122.00 price objective on Entergy and gave the stock a "buy" rating in a report on Thursday, August 13th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Entergy has a consensus rating of "Moderate Buy" and an average price target of $120.84.

Entergy Stock Performance

Shares of ETR opened at $106.96 on Wednesday. The firm has a market capitalization of $49.91 billion, a P/E ratio of 27.43, a PEG ratio of 1.82 and a beta of 0.50. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.70. Entergy Corporation has a one year low of $86.40 and a one year high of $118.44. The business has a fifty day moving average of $110.80 and a 200 day moving average of $110.07.

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

Entergy Announces Dividend

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

Insiders Place Their Bets

In other Entergy news, Director Ralph Lewis Ropp purchased 1,000 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were acquired at an average price of $106.08 per share, for a total transaction of $106,080.00. Following the purchase, the director directly owned 3,423 shares of the company's stock, valued at $363,111.84. The trade was a 41.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.21% of the company's stock.

About Entergy

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.

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