Entergy Corporation $ETR Position Boosted by Viking Fund Management LLC

Key Points

• Viking Fund Management increased its Entergy position by 27.3% in the third quarter to 247,000 shares valued at approximately $24.5 million. Institutional investors and hedge funds collectively own 88.07% of the utility.
• Analysts maintain a generally positive outlook, with 17 Buy ratings and three Holds, producing a “Moderate Buy” consensus and average price target of $119.58. Several firms recently lowered their targets, signaling more cautious valuation assumptions.
• Entergy reported quarterly EPS of $1.03, slightly above estimates, on $3.52 billion in revenue, and pays a quarterly dividend of $0.64 per share, equivalent to a 2.5% annual yield.

Viking Fund Management LLC raised its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 27.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 247,000 shares of the utilities provider's stock after acquiring an additional 53,000 shares during the quarter. Entergy accounts for about 2.0% of Viking Fund Management LLC's portfolio, making the stock its 7th biggest holding. Viking Fund Management LLC owned 0.05% of Entergy worth $24,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Entergy during the 2nd quarter worth approximately $4,861,376,000. Bank of America Corp DE purchased a new stake in shares of Entergy in the second quarter valued at $1,991,669,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Entergy in the second quarter valued at $633,338,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Entergy by 4.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,941,157 shares of the utilities provider's stock worth $452,681,000 after buying an additional 161,411 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Entergy in the second quarter worth $430,404,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Entergy

In related news, insider Laura R. Landreaux sold 5,600 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $106.20, for a total transaction of $594,720.00. Following the completion of the sale, the insider directly owned 22,589 shares of the company's stock, valued at approximately $2,398,951.80. This represents a 19.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ralph Lewis Ropp acquired 1,000 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $106.08 per share, for a total transaction of $106,080.00. Following the completion of the acquisition, the director owned 3,423 shares of the company's stock, valued at $363,111.84. This trade represents a 41.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley dropped their price objective on shares of Entergy from $105.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Friday, September 18th. BMO Capital Markets lifted their target price on shares of Entergy from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Evercore restated an "outperform" rating and set a $128.00 price target on shares of Entergy in a report on Monday, August 17th. JPMorgan Chase & Co. dropped their price target on shares of Entergy from $137.00 to $130.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Truist Financial set a $119.00 price objective on Entergy and gave the stock a "buy" rating in a report on Monday. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $119.58.

Entergy Stock Performance

NYSE ETR opened at $104.47 on Thursday. Entergy Corporation has a twelve month low of $90.87 and a twelve month high of $118.44. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 1.73. The stock has a market cap of $48.75 billion, a P/E ratio of 26.79, a PEG ratio of 2.35 and a beta of 0.46. The company's 50-day simple moving average is $104.44 and its 200 day simple moving average is $109.75.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.02. Entergy had a return on equity of 10.53% and a net margin of 13.40%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period in the prior year, the company earned $1.05 EPS. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, research analysts forecast that Entergy Corporation will post 4.40 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th were issued a dividend of $0.64 per share. The ex-dividend date was Thursday, August 13th. This represents a $2.56 dividend on an annualized basis and a yield of 2.5%. Entergy's dividend payout ratio (DPR) is 65.64%.

More Entergy News

Here are the key news stories impacting Entergy this week:

• Positive Sentiment: KeyCorp raised its long-term EPS forecasts for Entergy to $5.77 for FY2028, $6.49 for FY2029 and $7.32 for FY2030. The increases were modest but suggest improving confidence in the utility’s earnings growth. KeyCorp retained its Overweight rating and $118 price target.
• Positive Sentiment: JPMorgan maintained an Overweight rating while setting a $130 price target, implying substantial upside from recent trading levels. JPMorgan Entergy price target report
• Neutral Sentiment: Entergy marked the 25th anniversary of its Environmental Initiatives Fund, highlighting past environmental projects and sustainability efforts. The announcement may support the company’s reputation but is unlikely to materially change near-term earnings. Entergy Environmental Initiatives Fund announcement
• Neutral Sentiment: A Zacks article identified Entergy among utilities that could potentially beat quarterly earnings estimates, but it provided no new company-specific earnings guidance or results. Zacks utilities earnings outlook
• Negative Sentiment: KeyCorp reduced its Entergy price target to $118 from $123, while JPMorgan lowered its target to $130 from $137. KeyBanc also cut its target to $118 from $123. Although the firms remain bullish, the reductions signal more cautious valuation assumptions and may weigh on the stock.

Entergy Profile

Entergy Corporation is an integrated energy company that provides electric power and related services through regulated utility subsidiaries. Its operations include electricity generation, transmission and distribution, as well as natural gas distribution and other utility services.

Entergy serves customers across Arkansas, Louisiana, Mississippi and Texas, including the city of New Orleans. The company operates a diverse generation portfolio that includes nuclear, natural gas, renewable and other resources, and it supplies electricity to residential, commercial, industrial and governmental customers.

Founded in 1949 as Middle South Utilities, the company adopted the Entergy name in 1994.

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