Magellan Asset Management Ltd Purchases 97,330 Shares of Entergy Corporation $ETR

Key Points

• Magellan Asset Management boosted its Entergy stake by 26.2% in Q1, buying 97,330 shares and bringing its total holding to 468,285 shares worth about $52.6 million.
• Institutional interest in Entergy remains high, with several hedge funds adding positions and 88.07% of the stock now owned by institutions.
• Analysts are broadly positive on Entergy, with 17 Buy ratings and an average price target of $120.21; the company also recently beat earnings and revenue estimates for the quarter.

Magellan Asset Management Ltd increased its position in Entergy Corporation (NYSE:ETR - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 468,285 shares of the utilities provider's stock after buying an additional 97,330 shares during the quarter. Magellan Asset Management Ltd owned 0.10% of Entergy worth $52,617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Entergy by 275.6% during the 4th quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider's stock valued at $696,000 after buying an additional 6,733 shares during the period. Woodline Partners LP raised its stake in shares of Entergy by 40.7% during the first quarter. Woodline Partners LP now owns 36,228 shares of the utilities provider's stock valued at $3,097,000 after acquiring an additional 10,476 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Entergy during the second quarter valued at about $6,869,000. Brown Advisory Inc. boosted its holdings in shares of Entergy by 4.8% during the second quarter. Brown Advisory Inc. now owns 4,254 shares of the utilities provider's stock worth $354,000 after purchasing an additional 193 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Entergy during the second quarter worth about $17,225,000. 88.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 10,638 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total value of $1,170,180.00. Following the sale, the insider directly owned 14,182 shares of the company's stock, valued at $1,560,020. This represents a 42.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of research analyst reports. Citigroup restated a "neutral" rating and set a $121.00 price target (up from $116.00) on shares of Entergy in a report on Tuesday, May 5th. Morgan Stanley set a $94.00 price objective on Entergy in a research report on Thursday, May 21st. UBS Group reissued a "buy" rating and set a $135.00 target price (up from $131.00) on shares of Entergy in a research note on Thursday, April 30th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Entergy in a research note on Wednesday, June 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Entergy from $129.00 to $139.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Seventeen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Entergy has a consensus rating of "Moderate Buy" and an average price target of $120.21.

Entergy Stock Performance

Shares of ETR opened at $112.14 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.96 and a quick ratio of 0.73. Entergy Corporation has a one year low of $86.40 and a one year high of $118.44. The company has a 50-day simple moving average of $112.16 and a two-hundred day simple moving average of $107.31. The firm has a market capitalization of $51.35 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.91 and a beta of 0.50.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. Entergy had a return on equity of 10.75% and a net margin of 13.48%.The business had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $2.89 billion. During the same period in the previous year, the firm posted $0.82 EPS. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. On average, analysts anticipate that Entergy Corporation will post 4.4 EPS for the current fiscal year.

Entergy Company Profile

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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