Entergy Corporation $ETR Shares Purchased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. has significantly increased its stake in Entergy Corporation by 123.0%, now owning over 1.1 million shares valued at approximately $95.4 million.
• Entergy Corporation's recent earnings report showed a profit of $1.05 per share, exceeding analysts' expectations, although revenue fell short of forecasts at $3.02 billion.
• The company recently announced a quarterly dividend of $0.60 per share, representing an annual yield of 2.7%, alongside a payout ratio of 59.85%.

Adage Capital Partners GP L.L.C. raised its position in Entergy Corporation (NYSE:ETR - Free Report) by 123.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,116,404 shares of the utilities provider's stock after acquiring an additional 615,800 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.26% of Entergy worth $95,441,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Alkeon Capital Management LLC purchased a new position in shares of Entergy in the 1st quarter valued at about $194,429,000. Federation des caisses Desjardins du Quebec increased its holdings in Entergy by 108.6% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 30,021 shares of the utilities provider's stock valued at $2,567,000 after acquiring an additional 15,629 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Entergy by 11.3% during the 1st quarter. EP Wealth Advisors LLC now owns 11,372 shares of the utilities provider's stock valued at $972,000 after acquiring an additional 1,156 shares in the last quarter. GW Henssler & Associates Ltd. increased its holdings in Entergy by 102.9% during the 1st quarter. GW Henssler & Associates Ltd. now owns 222,342 shares of the utilities provider's stock valued at $19,008,000 after acquiring an additional 112,776 shares in the last quarter. Finally, Energy Income Partners LLC increased its holdings in Entergy by 16.7% during the 1st quarter. Energy Income Partners LLC now owns 1,304,587 shares of the utilities provider's stock valued at $111,529,000 after acquiring an additional 187,094 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Trading Down 0.5%

Shares of NYSE ETR traded down $0.44 during midday trading on Friday, reaching $87.74. 1,952,045 shares of the stock were exchanged, compared to its average volume of 2,284,436. The stock has a 50 day moving average price of $87.14 and a 200-day moving average price of $84.43. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 52-week low of $60.00 and a 52-week high of $92.40. The company has a market capitalization of $39.17 billion, a P/E ratio of 21.85, a P/E/G ratio of 2.39 and a beta of 0.61.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same period last year, the company earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Equities research analysts expect that Entergy Corporation will post 3.88 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 2nd. Investors of record on Wednesday, August 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. Entergy's dividend payout ratio (DPR) is currently 59.85%.

Insider Activity

In related news, insider Haley Fisackerly sold 4,463 shares of the firm's stock in a transaction that occurred 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 directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on shares of Entergy in a report on Thursday. They set a "buy" rating and a $109.00 target price for the company. Morgan Stanley set a $86.00 target price on shares of Entergy and gave the company an "outperform" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. raised their target price on shares of Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Barclays dropped their target price on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Finally, Mizuho set a $97.00 price target on shares of Entergy and gave the stock an "outperform" rating in a report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Entergy has an average rating of "Moderate Buy" and a consensus target price of $89.87.

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.