Elevation Point Wealth Partners LLC Buys 36,633 Shares of Entergy Corporation $ETR

Key Points

• Elevation Point Wealth Partners boosted its Entergy stake by 515.2% in Q1, buying 36,633 additional shares to bring its total holdings to 43,744 shares worth about $4.9 million.
• Entergy reported better-than-expected quarterly results, posting EPS of $0.86 versus the $0.84 consensus and revenue of $3.19 billion versus $2.89 billion expected.
• The utility also paid a quarterly dividend of $0.64 per share, implying a $2.56 annualized payout and a 2.2% yield, while analysts currently rate the stock a moderate buy with a $119.68 average price target.

Elevation Point Wealth Partners LLC increased its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 515.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,744 shares of the utilities provider's stock after buying an additional 36,633 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Entergy were worth $4,915,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ETR. Vanguard Group Inc. lifted its position in shares of Entergy by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 58,537,223 shares of the utilities provider's stock valued at $5,410,596,000 after acquiring an additional 589,317 shares during the period. State Street Corp grew its holdings in shares of Entergy by 4.4% during the 4th quarter. State Street Corp now owns 24,356,461 shares of the utilities provider's stock worth $2,251,268,000 after purchasing an additional 1,018,503 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Entergy by 54.9% in the fourth quarter. JPMorgan Chase & Co. now owns 22,694,994 shares of the utilities provider's stock worth $2,097,699,000 after purchasing an additional 8,046,287 shares during the period. Bank of America Corp DE increased its position in shares of Entergy by 2.9% in the third quarter. Bank of America Corp DE now owns 16,034,738 shares of the utilities provider's stock worth $1,494,277,000 after purchasing an additional 452,562 shares during the period. Finally, Geode Capital Management LLC raised its stake in Entergy by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 11,607,806 shares of the utilities provider's stock valued at $1,068,725,000 after purchasing an additional 126,625 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 10,638 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total value of $1,170,180.00. Following the sale, the insider directly owned 14,182 shares in the company, valued at $1,560,020. This represents a 42.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.21% of the company's stock.

Entergy Stock Performance

Shares of ETR stock opened at $115.00 on Friday. The firm has a market capitalization of $52.66 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.96 and a beta of 0.50. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. The business's 50-day moving average price is $112.12 and its 200-day moving average price is $105.41. Entergy Corporation has a 12 month low of $80.11 and a 12 month high of $118.44.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. Entergy had a net margin of 13.48% and a return on equity of 10.75%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts forecast that Entergy Corporation will post 4.4 EPS for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 1st were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.56 annualized dividend and a yield of 2.2%. Entergy's payout ratio is presently 65.31%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ETR. Citigroup reiterated a "neutral" rating and set a $121.00 price objective (up from $116.00) on shares of Entergy in a research note on Tuesday, May 5th. Morgan Stanley set a $94.00 target price on shares of Entergy in a research report on Thursday, May 21st. Truist Financial set a $127.00 price target on shares of Entergy and gave the stock a "buy" rating in a report on Friday, May 29th. Wall Street Zen upgraded shares of Entergy from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 2nd. Finally, Mizuho set a $122.00 price objective on shares of Entergy and gave the company an "outperform" rating in a research note on Wednesday, June 10th. Seventeen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $119.68.

Entergy Company 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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