Entergy Corporation $ETR Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Entergy Corporation by 2.7% during the first quarter, owning 245,890 shares valued at approximately $21 million.
• Analysts have set varied price targets for Entergy, with Mizuho setting a target at $97 and JPMorgan raising theirs from $102 to $103, indicating a generally positive outlook.
• Entergy declared a quarterly dividend of $0.60 per share, representing a 2.7% annual yield, with a payout ratio of approximately 59.85%.

American Century Companies Inc. grew its stake in Entergy Corporation (NYSE:ETR - Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245,890 shares of the utilities provider's stock after acquiring an additional 6,532 shares during the quarter. American Century Companies Inc. owned about 0.06% of Entergy worth $21,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ETR. Bank of America Corp DE increased its holdings in shares of Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after acquiring an additional 10,347,926 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Entergy by 71.4% in the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after purchasing an additional 5,368,396 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Entergy by 474.0% during the fourth quarter. Millennium Management LLC now owns 3,876,985 shares of the utilities provider's stock worth $293,953,000 after purchasing an additional 3,201,530 shares during the period. TD Asset Management Inc boosted its position in Entergy by 964.8% in the first quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider's stock valued at $261,232,000 after buying an additional 2,768,734 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Entergy by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock worth $4,687,331,000 after buying an additional 2,695,348 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction on 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 of the company's stock, valued at approximately $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target 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. Raymond James Financial initiated coverage on shares of Entergy in a research report on Friday, June 13th. They set a "market perform" rating for the company. Barclays reduced their price target 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. BMO Capital Markets raised their price target on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Mizuho set a $97.00 price target on shares of Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.50.

Entergy Stock Performance

Shares of NYSE ETR traded down $0.04 during midday trading on Wednesday, reaching $89.56. 1,632,192 shares of the stock were exchanged, compared to its average volume of 3,505,843. The firm has a market cap of $39.98 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 2.43 and a beta of 0.57. Entergy Corporation has a twelve month low of $59.05 and a twelve month high of $92.40. The firm has a 50-day simple moving average of $86.13 and a two-hundred day simple moving average of $84.20. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 EPS 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 analysts' expectations of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter last year, the company earned $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

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

Entergy 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.