ICONIQ Capital LLC Invests $257,000 in Entergy Corporation $ETR

Key Points

• ICONIQ Capital LLC has invested approximately $257,000 in Entergy Corporation by acquiring 3,012 shares as of the first quarter, highlighting a growing interest from institutional investors in the utilities provider.
• Entergy recently declared a quarterly dividend of $0.60 per share, which will be paid on September 2nd, indicating its commitment to returning value to shareholders.
• Shares of Entergy currently have an average target price of $88.14 among analysts, reflecting a generally positive outlook, with most analysts rating the stock as a "Moderate Buy."

ICONIQ Capital LLC acquired a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,012 shares of the utilities provider's stock, valued at approximately $257,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Entergy by 5.2% during the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock worth $4,687,331,000 after buying an additional 2,695,348 shares during the period. Bank of America Corp DE lifted its stake in shares of Entergy by 142.8% during the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after buying an additional 10,347,926 shares during the period. Ameriprise Financial Inc. lifted its position in Entergy by 2.2% during the first quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider's stock valued at $1,126,244,000 after purchasing an additional 289,468 shares during the period. Royal Bank of Canada lifted its position in Entergy by 80.9% during the fourth quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock valued at $354,317,000 after purchasing an additional 2,089,169 shares during the period. Finally, Northern Trust Corp lifted its position in Entergy by 3.4% during the first quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock valued at $370,488,000 after purchasing an additional 143,187 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Entergy

In related 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 completion of the transaction, the insider owned 3,318 shares in the company, valued at $300,279. This represents a 57.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

Entergy Trading Down 0.1%

Shares of Entergy stock opened at $89.23 on Tuesday. The firm has a 50-day simple moving average of $85.96 and a two-hundred day simple moving average of $84.16. The company has a market cap of $39.83 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. Entergy Corporation has a fifty-two week low of $59.05 and a fifty-two week high of $92.40. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. The business had revenue of $3.02 billion during 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 firm posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, equities analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ETR. Raymond James Financial began coverage on shares of Entergy in a research report on Friday, June 13th. They set a "market perform" rating for the company. Barclays decreased their target price on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Morgan Stanley decreased their target price on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. BMO Capital Markets boosted their target price on shares of Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Mizuho set a $97.00 target price on shares of Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.

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