Goldman Sachs Group Inc. Has $213.98 Million Stock Position in Entergy Corporation $ETR

Key Points

• Goldman Sachs Group Inc. increased its stake in Entergy Corporation by 30%, owning 2,502,925 shares valued at approximately $213.98 million as of its recent SEC filing.
• Multiple institutional investors have recently modified their positions in Entergy, contributing to a total institutional ownership of 88.07% in the company.
• Entergy announced a quarterly dividend of $0.60 per share, which represents an annual yield of 2.7%, alongside earnings results that exceeded consensus estimates for the latest quarter.

Goldman Sachs Group Inc. raised its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 30.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,502,925 shares of the utilities provider's stock after purchasing an additional 577,778 shares during the quarter. Goldman Sachs Group Inc. owned 0.58% of Entergy worth $213,975,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Glen Eagle Advisors LLC lifted its position in shares of Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after buying an additional 180 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Entergy during the first quarter worth about $28,000. Fourth Dimension Wealth LLC bought a new position in shares of Entergy in the fourth quarter worth about $30,000. Grove Bank & Trust boosted its stake in shares of Entergy by 188.5% in the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 230 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Entergy during the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction that occurred 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 owned 3,318 shares in the company, valued at approximately $300,279. The trade was a 57.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

ETR has been the subject of several research reports. Mizuho set a $97.00 price objective on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Jefferies Financial Group began coverage on Entergy in a report on Thursday, September 4th. They set a "buy" rating and a $109.00 price objective on the stock. Barclays lowered their target price on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Finally, Raymond James Financial assumed coverage on Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.87.

Entergy Stock Performance

Shares of Entergy stock opened at $88.44 on Thursday. The stock has a market cap of $39.48 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 2.37 and a beta of 0.61. Entergy Corporation has a twelve month low of $60.00 and a twelve month high of $92.40. The company's fifty day moving average is $87.44 and its 200 day moving average is $84.48. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 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 firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the business earned $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Sell-side analysts forecast that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The company 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. This represents a $2.40 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 13th. 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.

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