Eventide Asset Management LLC Raises Position in Entergy Corporation $ETR

Key Points

• Eventide Asset Management LLC increased its stake in Entergy Corporation by 9.3% during Q1, owning 619,091 shares valued at approximately $52.86 million.
• Twelve analysts currently rate Entergy as a Buy while others have set various price targets, with the consensus target around $89.87.
• Entergy recently announced a quarterly dividend of $0.60, yielding 2.8%, with a payout ratio of 59.85% based on its earnings.

Eventide Asset Management LLC raised its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 9.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 619,091 shares of the utilities provider's stock after acquiring an additional 52,723 shares during the quarter. Entergy makes up about 1.1% of Eventide Asset Management LLC's investment portfolio, making the stock its 29th biggest position. Eventide Asset Management LLC owned about 0.14% of Entergy worth $52,855,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Choreo LLC raised its holdings in Entergy by 12.3% during the first quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock valued at $816,000 after acquiring an additional 1,042 shares during the period. First American Trust FSB bought a new stake in Entergy during the first quarter valued at about $3,896,000. J.W. Cole Advisors Inc. bought a new stake in Entergy during the first quarter valued at about $1,073,000. EverSource Wealth Advisors LLC increased its holdings in shares of Entergy by 24.6% in the first quarter. EverSource Wealth Advisors LLC now owns 6,390 shares of the utilities provider's stock worth $546,000 after purchasing an additional 1,261 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Entergy by 25.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider's stock worth $6,708,000 after purchasing an additional 15,892 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ETR shares. Raymond James Financial began coverage on Entergy in a report on Friday, June 13th. They issued a "market perform" rating on the stock. Jefferies Financial Group began coverage on Entergy in a research note on Thursday. They issued a "buy" rating and a $109.00 price objective on the stock. Mizuho set a $97.00 price objective on Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. boosted their price objective on Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Finally, KeyCorp reissued an "overweight" rating and set a $96.00 price objective (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $89.87.

Entergy Trading Down 1.1%

ETR traded down $1.00 during trading hours on Monday, reaching $86.75. 3,263,912 shares of the company's stock traded hands, compared to its average volume of 3,474,525. The firm has a 50-day moving average price of $87.14 and a 200 day moving average price of $84.42. Entergy Corporation has a 52-week low of $60.00 and a 52-week high of $92.40. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $38.72 billion, a PE ratio of 21.61, a PEG ratio of 2.39 and a beta of 0.61.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.52% and a net margin of 14.35%.The company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, sell-side analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 annualized dividend and a yield of 2.8%. Entergy's dividend payout ratio is 59.85%.

Insiders Place Their Bets

In other news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the transaction, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. The trade was a 57.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.47% of the stock is currently owned by corporate insiders.

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.