Mirae Asset Global Investments Co. Ltd. Has $4.28 Million Stock Position in Entergy Corporation $ETR

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Entergy Corporation by 14.8%, owning 51,426 shares valued at approximately $4.28 million.
• Entergy reported $1.05 earnings per share, exceeding analysts' estimates of $0.91, with revenue of $3.02 billion in its latest quarter.
• The company declared a quarterly dividend of $0.60 per share, offering a yield of 2.5% and maintaining a payout ratio of 59.85%.

Mirae Asset Global Investments Co. Ltd. lifted its position in Entergy Corporation (NYSE:ETR - Free Report) by 14.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,426 shares of the utilities provider's stock after buying an additional 6,637 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Entergy were worth $4,275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETR. Mattson Financial Services LLC grew its position in shares of Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 150 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Entergy during the first quarter worth about $28,000. Atwood & Palmer Inc. lifted its stake in Entergy by 135.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 230 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in Entergy in the first quarter valued at $32,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Trading Up 2.2%

Shares of ETR stock opened at $97.46 on Tuesday. The stock has a market cap of $43.51 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 2.60 and a beta of 0.62. Entergy Corporation has a 1 year low of $64.38 and a 1 year high of $98.58. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The stock has a 50 day simple moving average of $89.94 and a 200 day simple moving average of $85.38.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping 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 net margin of 14.35% and a return on equity of 11.52%. 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. On average, research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, August 13th. Entergy's payout ratio is currently 59.85%.

Insiders Place Their Bets

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the sale, the insider owned 3,318 shares of the company's stock, 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 can be accessed through the SEC website. 0.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ETR shares. Barclays set a $100.00 price target on Entergy and gave the stock an "overweight" rating in a research report on Monday. Scotiabank set a $105.00 target price on shares of Entergy and gave the stock an "outperform" rating in a report on Friday. Weiss Ratings reiterated a "buy (b)" rating on shares of Entergy in a research note on Saturday, September 27th. KeyCorp reissued an "overweight" rating and issued a $96.00 price objective (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Finally, Raymond James Financial started coverage on shares of Entergy in a report on Friday, June 13th. They issued a "market perform" rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Entergy has a consensus rating of "Moderate Buy" and a consensus target price of $93.00.

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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