CIBC Asset Management Inc Raises Stock Holdings in Entergy Corporation $ETR

Key Points

• CIBC Asset Management boosted its Entergy stake by 74.6% in the fourth quarter, ending with 106,488 shares valued at about $9.84 million.
• Several analysts remain positive on Entergy, with firms including KeyCorp, Jefferies, and Mizuho raising price targets; the stock now carries a Moderate Buy consensus and a target price of $118.58.
• Entergy recently beat quarterly expectations, posting $0.86 EPS and $3.19 billion in revenue, while also paying a $0.64 quarterly dividend that yields about 2.3%.

CIBC Asset Management Inc increased its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 74.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,488 shares of the utilities provider's stock after purchasing an additional 45,504 shares during the quarter. CIBC Asset Management Inc's holdings in Entergy were worth $9,843,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ETR. United Community Bank increased its holdings in shares of Entergy by 806.7% in the fourth quarter. United Community Bank now owns 272 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 242 shares during the period. Washington Trust Advisors Inc. increased its holdings in shares of Entergy by 119.4% in the fourth quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 154 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Entergy by 150.4% in the third quarter. Hantz Financial Services Inc. now owns 323 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 194 shares during the period. Valley National Advisers Inc. increased its holdings in shares of Entergy by 306.0% in the fourth quarter. Valley National Advisers Inc. now owns 341 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 257 shares during the period. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Entergy by 46.1% in the third quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 130 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 10,638 shares of Entergy stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 trade represents a 42.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on ETR. KeyCorp reaffirmed an "overweight" rating and set a $123.00 target price (up from $118.00) on shares of Entergy in a report on Tuesday, April 21st. Jefferies Financial Group reaffirmed a "buy" rating and set a $131.00 target price (up from $114.00) on shares of Entergy in a report on Monday, April 20th. Mizuho raised their target price on Entergy from $112.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday, March 30th. Weiss Ratings raised Entergy from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, May 14th. Finally, Citigroup reaffirmed a "neutral" rating and set a $121.00 target price (up from $116.00) on shares of Entergy in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Entergy presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.58.

Entergy Stock Performance

NYSE ETR opened at $110.87 on Friday. The company has a market cap of $50.77 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.86 and a beta of 0.50. The stock's 50 day simple moving average is $112.48 and its 200-day simple moving average is $102.87. Entergy Corporation has a 1-year low of $80.11 and a 1-year high of $118.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.96 and a quick ratio of 0.73.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Wednesday, April 29th. The utilities provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $2.89 billion. Entergy had a return on equity of 10.75% and a net margin of 13.48%.During the same quarter last year, the business posted $0.82 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities research analysts anticipate that Entergy Corporation will post 4.4 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 1st were given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, May 1st. Entergy's dividend payout ratio (DPR) is 65.31%.

Entergy 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.

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