Bornite Capital Management LP Takes $940,000 Position in Entergy Corporation (NYSE:ETR)

Key Points

• Bornite Capital Management LP has acquired a $940,000 stake in Entergy Corporation, purchasing 11,000 shares, which constitutes about 0.2% of its total holdings.
• Entergy's recent quarterly earnings exceeded expectations with an EPS of $1.05, beating the consensus estimate of $0.91, and the company reported a revenue of $3.02 billion.
• Entergy is set to pay a quarterly dividend of $0.60 per share on September 2nd, reflecting an annualized dividend yield of 2.7% and a payout ratio of 59.85%.

Bornite Capital Management LP acquired a new stake in Entergy Corporation (NYSE:ETR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,000 shares of the utilities provider's stock, valued at approximately $940,000. Entergy accounts for about 0.2% of Bornite Capital Management LP's holdings, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Entergy by 275.6% in the fourth quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider's stock valued at $696,000 after acquiring an additional 6,733 shares during the last quarter. Aviva PLC boosted its holdings in Entergy by 100.0% in the fourth quarter. Aviva PLC now owns 6,720 shares of the utilities provider's stock valued at $510,000 after acquiring an additional 3,360 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Entergy by 126.8% in the fourth quarter. Bank of Nova Scotia now owns 62,017 shares of the utilities provider's stock valued at $4,702,000 after acquiring an additional 34,668 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Entergy in the fourth quarter valued at approximately $13,554,000. Finally, Advisory Services Network LLC boosted its holdings in Entergy by 266.0% in the fourth quarter. Advisory Services Network LLC now owns 29,040 shares of the utilities provider's stock valued at $2,202,000 after acquiring an additional 21,106 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. BMO Capital Markets upped their target price on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Raymond James Financial began coverage on Entergy in a report on Friday, June 13th. They set a "market perform" rating on the stock. Mizuho set a $97.00 price target on Entergy and gave the stock an "outperform" rating in a report on Thursday, July 31st. KeyCorp restated an "overweight" rating and set a $96.00 price target (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.07.

Entergy Trading Down 0.1%

Entergy stock opened at $90.44 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The business's fifty day simple moving average is $84.36 and its two-hundred day simple moving average is $83.49. Entergy Corporation has a 12 month low of $57.65 and a 12 month high of $92.40. The company has a market capitalization of $40.37 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.14. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%. During the same period in the prior year, the company posted $1.92 earnings per share. As a group, equities analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently declared 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's dividend payout ratio is presently 59.85%.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.

Entergy 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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