First American Trust FSB Acquires New Stake in Entergy Corporation (NYSE:ETR)

Key Points

• First American Trust FSB has acquired a new stake in Entergy Corporation, purchasing 45,569 shares valued at approximately $3.9 million.
• Entergy reported $1.05 earnings per share for the last quarter, beating analyst estimates, although revenue fell short at $3.02 billion.
• The firm recently declared a quarterly dividend of $0.60 per share, with a dividend yield of 2.7% and a payout ratio of 59.85%.

First American Trust FSB bought a new stake in Entergy Corporation (NYSE:ETR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 45,569 shares of the utilities provider's stock, valued at approximately $3,896,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Entergy in the first quarter valued at approximately $28,000. Grove Bank & Trust raised its holdings in Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 230 shares in the last quarter. Glen Eagle Advisors LLC raised its holdings in Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 180 shares in the last quarter. Legacy Investment Solutions LLC raised its holdings in Entergy by 85.1% in the fourth quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 172 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc acquired a new stake in Entergy in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction 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 transaction, the insider directly owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

Entergy Stock Performance

Shares of ETR traded up $0.77 during mid-day trading on Tuesday, reaching $90.86. 2,399,054 shares of the company's stock were exchanged, compared to its average volume of 2,853,424. 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 stock has a market capitalization of $40.56 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 2.45 and a beta of 0.57. The business's fifty day simple moving average is $84.66 and its 200-day simple moving average is $83.61. Entergy Corporation has a 52-week low of $58.17 and a 52-week high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same period last year, the firm posted $1.92 earnings per share. On average, equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is 59.85%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Raymond James Financial assumed coverage on shares of Entergy in a report on Friday, June 13th. They issued a "market perform" rating on the stock. Barclays cut their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley cut their price objective on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. Finally, KeyCorp reissued an "overweight" rating and set a $96.00 price objective (up previously from $88.00) on shares of Entergy in a report on Thursday, July 31st. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.07.

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.