Jones Financial Companies Lllp Boosts Position in Entergy Corporation $ETR

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Entergy Corporation by 460.1%, owning 89,343 shares valued at approximately $7.6 million as of its latest SEC filing.
• Insider Haley Fisackerly sold 4,463 shares at $90.50 each, marking a 57.36% decrease in their position, leaving them with a remaining 3,318 shares.
• Analyst ratings for Entergy indicate a moderate buy recommendation, with an average target price of $89.87, reflecting firm expectations for the company’s growth.

Jones Financial Companies Lllp increased its position in Entergy Corporation (NYSE:ETR - Free Report) by 460.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 89,343 shares of the utilities provider's stock after acquiring an additional 73,393 shares during the quarter. Jones Financial Companies Lllp's holdings in Entergy were worth $7,638,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Entergy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock worth $4,687,331,000 after acquiring an additional 2,695,348 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Entergy by 2.2% in the 1st quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider's stock worth $1,126,244,000 after acquiring an additional 289,468 shares during the last quarter. Royal Bank of Canada increased its holdings in Entergy by 80.9% in the 4th quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock worth $354,317,000 after acquiring an additional 2,089,169 shares during the last quarter. Northern Trust Corp increased its holdings in Entergy by 3.4% in the 1st quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock worth $370,488,000 after acquiring an additional 143,187 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Entergy by 474.0% in the 4th quarter. Millennium Management LLC now owns 3,876,985 shares of the utilities provider's stock worth $293,953,000 after purchasing an additional 3,201,530 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group assumed coverage on Entergy in a research note on Thursday, September 4th. They issued a "buy" rating and a $109.00 target price for the company. KeyCorp reiterated an "overweight" rating and set a $96.00 price target (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their target price on Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Barclays dropped their target price 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, Mizuho set a $97.00 price target on Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $89.87.

Entergy Stock Performance

Shares of NYSE:ETR traded up $0.04 during midday trading on Monday, reaching $90.33. 286,984 shares of the company's stock traded hands, compared to its average volume of 3,428,825. The company has a market cap of $40.32 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 2.46 and a beta of 0.61. 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 Corporation has a one year low of $63.18 and a one year high of $92.40. The stock has a 50 day moving average of $87.76 and a 200 day moving average of $84.53.

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

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's dividend payout ratio is presently 59.85%.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

About Entergy

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.