HighTower Advisors LLC Purchases 13,027 Shares of Entergy Corporation $ETR

HighTower Advisors LLC boosted its position in Entergy Corporation (NYSE:ETR - Free Report) by 14.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,822 shares of the utilities provider's stock after purchasing an additional 13,027 shares during the quarter. HighTower Advisors LLC's holdings in Entergy were worth $8,619,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ETR. AGF Management Ltd. increased its stake in shares of Entergy by 4.5% in the 1st quarter. AGF Management Ltd. now owns 74,824 shares of the utilities provider's stock worth $6,397,000 after acquiring an additional 3,250 shares in the last quarter. Mustard Seed Financial LLC purchased a new stake in Entergy in the first quarter worth about $219,000. Public Sector Pension Investment Board increased its stake in shares of Entergy by 3.0% during the first quarter. Public Sector Pension Investment Board now owns 114,645 shares of the utilities provider's stock valued at $9,801,000 after purchasing an additional 3,336 shares in the last quarter. Tranquilli Financial Advisor LLC purchased a new position in shares of Entergy during the first quarter valued at approximately $206,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Entergy during the first quarter valued at approximately $275,000. Institutional investors own 88.07% of the company's stock.

Entergy Stock Performance

Shares of Entergy stock traded down $0.54 during trading on Thursday, hitting $89.29. 802,371 shares of the company's stock traded hands, compared to its average volume of 3,535,467. Entergy Corporation has a 1 year low of $59.05 and a 1 year high of $92.40. The business has a 50-day simple moving average of $85.54 and a 200-day simple moving average of $83.99. The stock has a market capitalization of $39.86 billion, a P/E ratio of 22.25, a PEG ratio of 2.42 and a beta of 0.57. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52.

Entergy (NYSE:ETR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the prior year, the business earned $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, analysts forecast that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's dividend payout ratio is currently 59.85%.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction that occurred on 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 owned 3,318 shares of the company's stock, valued at $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 is available through the SEC website. Insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ETR. JPMorgan Chase & Co. upped their price target on Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday. Morgan Stanley dropped their target price on Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. BMO Capital Markets raised their price target on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Barclays lowered their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Finally, KeyCorp reissued an "overweight" rating and set a $96.00 price objective (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.14.

Entergy 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.