Dakota Wealth Management Invests $368,000 in Entergy Corporation $ETR

Key Points

• Dakota Wealth Management has invested approximately $368,000 in Entergy Corporation by purchasing 4,425 shares during the second quarter.
• Wall Street analysts have shown confidence in Entergy, with a consensus rating of "Moderate Buy" and an average price target of $89.80.
• Entergy recently announced a quarterly dividend of $0.60 per share, reflecting a 2.6% dividend yield based on a payout ratio of 59.85%.

Dakota Wealth Management purchased a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,425 shares of the utilities provider's stock, valued at approximately $368,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mattson Financial Services LLC grew its stake in shares of Entergy by 100.0% during the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock worth $26,000 after purchasing an additional 150 shares during the period. Atwood & Palmer Inc. grew its stake in shares of Entergy by 135.7% during the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider's stock worth $27,000 after purchasing an additional 190 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Entergy in the 1st quarter valued at about $28,000. Grove Bank & Trust grew its stake in Entergy by 188.5% in the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 230 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Entergy in the 1st quarter valued at about $32,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ETR shares. Jefferies Financial Group started coverage on shares of Entergy in a research note on Thursday, September 4th. They issued a "buy" rating and a $109.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. KeyCorp reissued an "overweight" rating and issued a $96.00 price objective (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Barclays lowered their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Finally, Raymond James Financial started coverage on shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $89.80.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction dated Thursday, July 31st. The shares were 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 in the company, valued at $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by insiders.

Entergy Price Performance

NYSE:ETR opened at $92.22 on Monday. The firm has a market cap of $41.17 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 2.51 and a beta of 0.61. 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 company's 50-day moving average is $89.14 and its two-hundred day moving average is $84.97. Entergy Corporation has a 12-month low of $64.38 and a 12-month high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Research analysts expect that Entergy Corporation will post 3.88 EPS 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 issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, August 13th. Entergy's dividend payout ratio is presently 59.85%.

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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