Gallo Partners LP Acquires Shares of 28,634 Entergy Corporation $ETR

Key Points

• Gallo Partners LP acquired 28,634 Entergy shares worth approximately $3.29 million, making the utility company its second-largest holding and 7.3% of its portfolio. Institutional investors and hedge funds own 88.07% of Entergy.
• Analysts remain broadly positive: 17 rate Entergy a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $120.84.
• Entergy exceeded quarterly earnings and revenue estimates, reporting $1.03 in EPS and $3.52 billion in revenue. The company declared a quarterly dividend of $0.64 per share, equal to a 2.4% annualized yield.

Gallo Partners LP purchased a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,634 shares of the utilities provider's stock, valued at approximately $3,289,000. Entergy accounts for 7.3% of Gallo Partners LP's investment portfolio, making the stock its 2nd largest holding.

A number of other hedge funds also recently added to or reduced their stakes in ETR. Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Entergy in the second quarter valued at about $225,000. TCM Advisors LLC acquired a new stake in shares of Entergy in the 2nd quarter valued at approximately $643,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Entergy in the second quarter valued at approximately $3,754,000. Sanctuary Advisors LLC purchased a new stake in shares of Entergy in the second quarter valued at approximately $13,313,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in Entergy during the second quarter worth $409,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 10,638 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total transaction of $1,170,180.00. Following the transaction, the insider owned 14,182 shares of the company's stock, valued at approximately $1,560,020. This represents a 42.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp bought 1,000 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average price of $106.08 per share, for a total transaction of $106,080.00. Following the transaction, the director owned 3,423 shares of the company's stock, valued at $363,111.84. The trade was a 41.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

ETR has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Entergy from $123.00 to $128.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of Entergy from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday. Barclays decreased their price target on Entergy from $124.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 3rd. Evercore restated an "outperform" rating and issued a $128.00 price target on shares of Entergy in a report on Monday, August 17th. Finally, JPMorgan Chase & Co. raised their price objective on Entergy from $129.00 to $139.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $120.84.

Entergy Stock Down 0.1%

Shares of NYSE:ETR opened at $104.56 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 52-week low of $86.40 and a 52-week high of $118.44. The stock's fifty day simple moving average is $111.55 and its 200-day simple moving average is $109.66. The company has a market capitalization of $48.79 billion, a P/E ratio of 26.81, a P/E/G ratio of 1.79 and a beta of 0.50.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.02. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.49 billion. Entergy had a return on equity of 10.53% and a net margin of 13.40%.During the same quarter last year, the company earned $1.05 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities research analysts forecast that Entergy Corporation will post 4.4 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 13th. Entergy's dividend payout ratio (DPR) is currently 65.64%.

About Entergy

Entergy Corporation NYSE: ETR is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company's operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy's generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.

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