Entergy Corporation (NYSE:ETR) Stake Boosted by Maple Brown Abbott Ltd

Key Points

• Maple Brown Abbott Ltd increased its stake in Entergy Corporation by 9.9%, owning a total of 1,234,206 shares, which represent about 7.2% of its portfolio.
• Entergy's recent earnings report showed an EPS of $1.05, surpassing estimates, although revenue was slightly below expectations at $3.02 billion.
• Analysts have set a new average target price for Entergy at $88.07, with a consensus rating of "Moderate Buy" from investment analysts.

Maple Brown Abbott Ltd increased its stake in Entergy Corporation (NYSE:ETR - Free Report) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,234,206 shares of the utilities provider's stock after acquiring an additional 110,756 shares during the period. Entergy comprises about 7.2% of Maple Brown Abbott Ltd's holdings, making the stock its 5th largest holding. Maple Brown Abbott Ltd owned approximately 0.29% of Entergy worth $105,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acropolis Investment Management LLC raised its position in Entergy by 0.7% during the 1st quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock valued at $1,535,000 after purchasing an additional 129 shares during the last quarter. Gen Wealth Partners Inc raised its position in Entergy by 27.5% during the 4th quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 144 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of Entergy by 18.6% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock worth $90,000 after acquiring an additional 165 shares in the last quarter. Glen Eagle Advisors LLC raised its position in shares of Entergy by 100.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after acquiring an additional 180 shares in the last quarter. Finally, Focus Financial Network Inc. raised its position in shares of Entergy by 5.3% in the 1st quarter. Focus Financial Network Inc. now owns 4,352 shares of the utilities provider's stock worth $372,000 after acquiring an additional 218 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

Entergy Stock Down 1.4%

ETR traded down $1.24 during trading on Friday, hitting $89.05. 4,104,742 shares of the company's stock traded hands, compared to its average volume of 2,711,109. The company's 50 day simple moving average is $85.15 and its two-hundred day simple moving average is $83.82. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 12-month low of $58.46 and a 12-month high of $92.40. The stock has a market capitalization of $39.75 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.46 and a beta of 0.57.

Entergy (NYSE:ETR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, beating 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 business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the business posted $1.92 EPS. Analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

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

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the 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 sale, the insider directly owned 3,318 shares in the company, valued at approximately $300,279. This trade represents a 57.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays decreased 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. KeyCorp reissued an "overweight" rating and issued a $96.00 target price (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Raymond James Financial assumed coverage on Entergy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. Finally, Morgan Stanley decreased their target price on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Entergy has a consensus rating of "Moderate Buy" and a consensus target price of $88.07.

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.