BROOKFIELD Corp ON Has $161.20 Million Stock Position in Entergy Corporation $ETR

Key Points

• BROOKFIELD Corp ON reduced its holdings in Entergy Corporation by 33.8%, selling 960,673 shares in the 1st quarter, and now owns 1,885,589 shares which represents 0.9% of its portfolio.
• Vanguard Group Inc. increased its stake by 5.2% during the same period, owning 54,828,994 shares valued at approximately $4.69 billion.
• Entergy's recent quarterly earnings report revealed $1.05 earnings per share, outperforming estimates, with a revenue of $3.02 billion, below analyst expectations.

BROOKFIELD Corp ON cut its stake in Entergy Corporation (NYSE:ETR - Free Report) by 33.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,885,589 shares of the utilities provider's stock after selling 960,673 shares during the period. Entergy accounts for 0.9% of BROOKFIELD Corp ON's portfolio, making the stock its 18th largest position. BROOKFIELD Corp ON owned approximately 0.44% of Entergy worth $161,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Mattson Financial Services LLC raised its holdings in shares of Entergy by 100.0% during the first 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. Glen Eagle Advisors LLC grew its position in Entergy by 100.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after buying an additional 180 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Entergy in the 1st quarter valued at about $28,000. Fourth Dimension Wealth LLC acquired a new stake in Entergy in the 4th quarter valued at about $30,000. Finally, Grove Bank & Trust lifted its holdings 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. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the sale, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company's stock.

Entergy Trading Up 0.5%

Shares of ETR stock traded up $0.46 on Friday, reaching $90.32. The company had a trading volume of 2,082,846 shares, compared to its average volume of 2,287,449. 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 stock has a market cap of $40.32 billion, a PE ratio of 22.50, a PEG ratio of 2.46 and a beta of 0.61. The company has a 50-day moving average of $87.76 and a 200-day moving average of $84.53. Entergy Corporation has a 12 month low of $62.31 and a 12 month high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.14. The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%.During the same period in the prior year, the business posted $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's dividend payout ratio is presently 59.85%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased 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. Barclays lowered their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Mizuho set a $97.00 price objective on shares of Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Morgan Stanley set a $86.00 price objective on shares of Entergy and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Finally, Raymond James Financial assumed coverage on shares of Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Entergy currently has an average rating of "Moderate Buy" and a consensus target price of $89.87.

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.