Concentric Capital Strategies LP Invests $841,000 in Entergy Corporation $ETR

Key Points

• Concentric Capital Strategies LP has acquired 9,843 shares of Entergy Corporation, valued at approximately $841,000, indicating growing interest in the utilities sector.
• Entergy recently reported earnings of $1.05 per share, surpassing analyst expectations, but its revenue of $3.02 billion fell short of estimates.
• The company announced a quarterly dividend of $0.60 per share, contributing to an annualized dividend yield of 2.7%.

Concentric Capital Strategies LP acquired a new stake in Entergy Corporation (NYSE:ETR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 9,843 shares of the utilities provider's stock, valued at approximately $841,000.

Other hedge funds also recently modified their holdings of the company. Choreo LLC grew its position in shares of Entergy by 12.3% in the first quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock valued at $816,000 after purchasing an additional 1,042 shares during the last quarter. First American Trust FSB acquired a new stake in shares of Entergy in the 1st quarter valued at $3,896,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Entergy in the 1st quarter valued at $1,073,000. EverSource Wealth Advisors LLC increased its position in Entergy by 24.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,390 shares of the utilities provider's stock worth $546,000 after purchasing an additional 1,261 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Entergy by 25.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider's stock worth $6,708,000 after purchasing an additional 15,892 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the sale, the insider owned 3,318 shares in the company, valued at approximately $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ETR shares. JPMorgan Chase & Co. upped their price objective on shares of Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Mizuho set a $97.00 price objective on shares of Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. KeyCorp reiterated an "overweight" rating and set 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 shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Finally, Jefferies Financial Group initiated coverage on Entergy in a research report on Thursday, September 4th. They set a "buy" rating and a $109.00 target price for the company. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.87.

Entergy Stock Performance

ETR stock traded up $1.30 during midday trading on Wednesday, reaching $88.31. 653,598 shares of the company's stock traded hands, compared to its average volume of 3,448,858. The company has a 50-day moving average price of $87.30 and a two-hundred day moving average price of $84.45. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. Entergy Corporation has a 52 week low of $60.00 and a 52 week high of $92.40. The firm has a market capitalization of $39.42 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.36 and a beta of 0.61.

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

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is currently 59.85%.

About Entergy

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.