BTC Capital Management Inc. Purchases 3,027 Shares of Entergy Corporation $ETR

Key Points

• BTC Capital Management Inc. increased its holdings in Entergy Corporation by 9.0%, acquiring an additional 3,027 shares, bringing its total to 36,828 shares worth approximately $3.02 million.
• Entergy's quarterly earnings report showed earnings per share of $1.05, surpassing analysts' estimates of $0.91, although revenue of $3.02 billion fell short of the predicted $3.11 billion.
• Entergy recently declared a $0.60 quarterly dividend, translating to an annualized yield of 2.7% and a payout ratio of 59.85%.

BTC Capital Management Inc. boosted its position in Entergy Corporation (NYSE:ETR - Free Report) by 9.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 36,828 shares of the utilities provider's stock after acquiring an additional 3,027 shares during the period. BTC Capital Management Inc.'s holdings in Entergy were worth $3,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Entergy by 5.2% during the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock valued at $4,687,331,000 after buying an additional 2,695,348 shares during the period. Ameriprise Financial Inc. increased its position in shares of Entergy by 2.2% during the first quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider's stock valued at $1,126,244,000 after buying an additional 289,468 shares during the period. Northern Trust Corp increased its position in shares of Entergy by 3.4% during the first quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock valued at $370,488,000 after buying an additional 143,187 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Entergy by 15.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,326,466 shares of the utilities provider's stock valued at $284,380,000 after buying an additional 454,059 shares during the period. Finally, Boston Partners increased its position in shares of Entergy by 0.4% during the first quarter. Boston Partners now owns 3,229,814 shares of the utilities provider's stock valued at $276,101,000 after buying an additional 14,068 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Performance

NYSE:ETR opened at $88.67 on Friday. The firm has a market cap of $39.58 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.41 and a beta of 0.61. Entergy Corporation has a fifty-two week low of $63.95 and a fifty-two week high of $92.40. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. The business has a 50 day moving average price of $88.46 and a 200-day moving average price of $84.63.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.14. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%.During the same quarter in the prior year, the firm posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Equities research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were paid 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 was Wednesday, August 13th. Entergy's dividend payout ratio is 59.85%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ETR. JPMorgan Chase & Co. upped their price target on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Raymond James Financial began coverage on Entergy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. Jefferies Financial Group began coverage on Entergy in a research report on Thursday, September 4th. They set a "buy" rating and a $109.00 price target on the stock. Barclays decreased their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Finally, KeyCorp restated an "overweight" rating and issued a $96.00 price objective (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $89.87.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.39% of the company's stock.

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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