Burkehill Global Management LP Invests $68.93 Million in Entergy Corporation (NYSE:ETR)

Key Points

• Burkehill Global Management LP has invested approximately $68.93 million in Entergy Corporation, acquiring 806,237 shares, which now constitute 5.2% of its investment portfolio.
• Multiple hedge funds, including Vanguard Group Inc. and Bank of America Corp DE, have significantly increased their holdings in Entergy, indicating a growing interest from institutional investors.
• Entergy recently reported an EPS of $1.05 for the last quarter, surpassing analyst expectations, while announcing a quarterly dividend of $0.60 per share.

Burkehill Global Management LP purchased a new position in Entergy Corporation (NYSE:ETR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 806,237 shares of the utilities provider's stock, valued at approximately $68,925,000. Entergy makes up about 5.2% of Burkehill Global Management LP's investment portfolio, making the stock its 4th biggest holding. Burkehill Global Management LP owned about 0.19% of Entergy as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Entergy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock worth $4,687,331,000 after purchasing an additional 2,695,348 shares in the last quarter. Bank of America Corp DE lifted its position in Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after acquiring an additional 10,347,926 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Entergy by 71.4% in the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after acquiring an additional 5,368,396 shares in the last quarter. Capital International Investors lifted its position in Entergy by 103.6% in the 4th quarter. Capital International Investors now owns 7,773,654 shares of the utilities provider's stock valued at $589,389,000 after acquiring an additional 3,956,122 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in Entergy by 58.8% in the 4th quarter. Capital Research Global Investors now owns 6,375,510 shares of the utilities provider's stock valued at $483,391,000 after acquiring an additional 2,359,445 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Entergy Price Performance

Shares of ETR opened at $90.44 on Friday. The firm has a market cap of $40.37 billion, a PE ratio of 22.53, a P/E/G ratio of 2.46 and a beta of 0.57. 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 firm has a fifty day simple moving average of $84.36 and a two-hundred day simple moving average of $83.49. Entergy Corporation has a 1-year low of $57.65 and a 1-year high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $1.92 EPS. On average, equities analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Mizuho set a $97.00 price objective on Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial assumed coverage on Entergy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. KeyCorp reaffirmed 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. Barclays lowered their price objective 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, JPMorgan Chase & Co. upped 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. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Entergy currently has an average rating of "Moderate Buy" and an average price target of $88.07.

Insider Activity at Entergy

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 value of $403,901.50. Following the completion of the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. This represents a 57.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.39% of the stock is owned by company insiders.

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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