Monashee Investment Management LLC Invests $12.82 Million in Entergy Corporation $ETR

Key Points

• Monashee Investment Management LLC invested approximately $12.82 million in Entergy Corporation, acquiring 150,000 shares which constitutes around 1.5% of their holdings.
• Several institutional investors, including Vanguard Group Inc. and Bank of America Corp DE, significantly increased their positions in Entergy, with a notable 142.8% boost from Bank of America.
• Analysts have varied price targets for Entergy, with Barclays lowering its target to $87 while BMO Capital Markets raised it to $93, reflecting differing outlooks on the company’s performance.

Monashee Investment Management LLC acquired a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 150,000 shares of the utilities provider's stock, valued at approximately $12,824,000. Entergy makes up approximately 1.5% of Monashee Investment Management LLC's holdings, making the stock its 11th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position 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 in the last quarter. Bank of America Corp DE boosted its holdings in Entergy by 142.8% in the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after purchasing an additional 10,347,926 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Entergy by 71.4% in the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after purchasing an additional 5,368,396 shares in the last quarter. Royal Bank of Canada boosted its holdings in Entergy by 80.9% in 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 in the last quarter. Finally, Northern Trust Corp boosted its holdings in Entergy by 3.4% in 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 in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ETR. Barclays lowered their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. BMO Capital Markets upped their price target on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. KeyCorp reaffirmed an "overweight" rating and issued a $96.00 price target (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. Morgan Stanley reduced their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Finally, Mizuho set a $97.00 price objective on Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $88.07.

Entergy Price Performance

Shares of NYSE ETR opened at $89.8290 on Thursday. Entergy Corporation has a twelve month low of $59.05 and a twelve month high of $92.40. 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 moving average of $85.54 and a two-hundred day moving average of $83.99. The stock has a market cap of $40.10 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.42 and a beta of 0.57.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 2.7%. The ex-dividend date is Wednesday, August 13th. Entergy's dividend payout ratio is 59.85%.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider owned 3,318 shares in the company, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is owned by company insiders.

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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