Ferguson Wellman Capital Management Inc. Buys 33,771 Shares of Entergy Corporation $ETR

Key Points

• Ferguson Wellman Capital Management Inc. increased its stake in Entergy Corporation by 2.8%, owning 1,235,391 shares valued at approximately $102.69 million.
• Entergy's quarterly earnings of $1.05 per share exceeded analysts’ expectations, while its revenue for the quarter was $3.02 billion, slightly below estimates.
• The company declared a quarterly dividend of $0.60, representing an annualized dividend yield of 2.7% with a payout ratio of 59.85%.

Ferguson Wellman Capital Management Inc. raised its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,235,391 shares of the utilities provider's stock after purchasing an additional 33,771 shares during the quarter. Entergy accounts for 1.8% of Ferguson Wellman Capital Management Inc.'s investment portfolio, making the stock its 17th biggest holding. Ferguson Wellman Capital Management Inc. owned about 0.29% of Entergy worth $102,686,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in Entergy by 275.6% in the 4th quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider's stock worth $696,000 after acquiring an additional 6,733 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in shares of Entergy in the fourth quarter worth approximately $243,000. Snowden Capital Advisors LLC boosted its holdings in shares of Entergy by 52.9% during the fourth quarter. Snowden Capital Advisors LLC now owns 6,486 shares of the utilities provider's stock worth $492,000 after purchasing an additional 2,245 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Entergy by 17.9% during the fourth quarter. Toronto Dominion Bank now owns 148,301 shares of the utilities provider's stock worth $11,244,000 after purchasing an additional 22,559 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in Entergy during the fourth quarter valued at approximately $1,592,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Entergy Price Performance

NYSE ETR traded up $0.38 on Monday, hitting $89.05. 673,003 shares of the company were exchanged, compared to its average volume of 3,414,614. The firm has a 50 day moving average of $88.46 and a two-hundred day moving average of $84.65. The company has a market cap of $39.75 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.41 and a beta of 0.61. 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 1-year low of $64.38 and a 1-year high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly 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. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter in the prior year, the company earned $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, equities analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 2.7%. Entergy's dividend payout ratio is presently 59.85%.

Analyst Ratings Changes

A number of research firms have issued reports on ETR. JPMorgan Chase & Co. increased their target price 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. Jefferies Financial Group assumed coverage on Entergy in a report on Thursday, September 4th. They set a "buy" rating and a $109.00 price objective for the company. Mizuho set a $97.00 target price on Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Morgan Stanley set a $86.00 target price on Entergy and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Finally, Raymond James Financial initiated coverage on Entergy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $89.87.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider directly owned 3,318 shares in the company, valued at approximately $300,279. This represents a 57.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

About Entergy

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.