Federation des caisses Desjardins du Quebec Grows Stake in Entergy Corporation $ETR

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Entergy Corporation by 108.6% during the first quarter, holding a total of 30,021 shares valued at approximately $2.57 million.
• Multiple institutional investors have significantly boosted their positions in Entergy, with Brighton Jones LLC increasing its holdings by 275.6% in the fourth quarter.
• Entergy's stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $89.87, indicating positive sentiment in the market.

Federation des caisses Desjardins du Quebec grew its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 108.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,021 shares of the utilities provider's stock after acquiring an additional 15,629 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Entergy were worth $2,567,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Entergy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock valued at $4,687,331,000 after purchasing an additional 2,695,348 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Entergy by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider's stock valued at $1,126,244,000 after buying an additional 289,468 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Entergy by 80.9% during the fourth quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock valued at $354,317,000 after buying an additional 2,089,169 shares during the last quarter. Northern Trust Corp increased its position in shares of Entergy by 3.4% during the first quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock worth $370,488,000 after acquiring an additional 143,187 shares in the last quarter. Finally, Millennium Management LLC increased its position 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 acquiring an additional 3,201,530 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ETR shares. Jefferies Financial Group began coverage on Entergy in a research note on Thursday, September 4th. They set a "buy" rating and a $109.00 price target for the company. JPMorgan Chase & Co. upped their price target on Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Mizuho set a $97.00 price target on Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. KeyCorp reaffirmed an "overweight" rating and set a $96.00 price objective (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. Finally, Raymond James Financial assumed coverage on shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.87.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy 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 in the company, valued at approximately $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by insiders.

Entergy Stock Performance

Shares of ETR traded up $1.45 during mid-day trading on Thursday, hitting $89.89. The stock had a trading volume of 2,365,835 shares, compared to its average volume of 2,393,300. Entergy Corporation has a 52 week low of $61.04 and a 52 week high of $92.40. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The business has a fifty day moving average price of $87.60 and a 200-day moving average price of $84.51. The firm has a market cap of $40.13 billion, a P/E ratio of 22.39, a PEG ratio of 2.41 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 for the quarter, topping the consensus estimate of $0.91 by $0.14. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%.During the same quarter last year, the firm posted $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, equities research analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

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

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.