NewEdge Wealth LLC Invests $1.11 Million in Entergy Corporation $ETR

Key Points

• NewEdge Wealth initiated a $1.11 million position in Entergy during the second quarter by purchasing 9,666 shares. Institutional investors collectively own 88.07% of the utility company.
• Analyst sentiment remains positive overall, with 17 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $120.84; targets range from $121 to $139.
• Entergy exceeded quarterly expectations with $1.03 in EPS and $3.52 billion in revenue, while declaring a $0.64 quarterly dividend—equivalent to a 2.4% annualized yield.

NewEdge Wealth LLC bought a new stake in Entergy Corporation (NYSE:ETR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,666 shares of the utilities provider's stock, valued at approximately $1,110,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. United Community Bank grew its holdings in shares of Entergy by 806.7% in the 4th quarter. United Community Bank now owns 272 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 242 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in Entergy by 119.4% during the fourth quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider's stock worth $26,000 after acquiring an additional 154 shares in the last quarter. Union Savings Bank acquired a new position in Entergy during the fourth quarter valued at approximately $28,000. Bell Investment Advisors Inc acquired a new position in Entergy during the second quarter valued at approximately $28,000. Finally, Fairway Wealth LLC bought a new position in Entergy in the first quarter valued at approximately $30,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wall Street Zen cut Entergy from a "hold" rating to a "sell" rating in a research note on Sunday, August 9th. Citigroup reissued a "neutral" rating and issued a $121.00 target price (up from $116.00) on shares of Entergy in a research note on Tuesday, May 5th. JPMorgan Chase & Co. upped their price target on shares of Entergy from $129.00 to $139.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Weiss Ratings cut shares of Entergy from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday. Finally, Truist Financial set a $122.00 price objective on shares of Entergy and gave the company a "buy" rating in a research report on Thursday, August 13th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $120.84.

Entergy Stock Performance

Shares of NYSE ETR opened at $104.56 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $48.79 billion, a P/E ratio of 26.81, a P/E/G ratio of 1.83 and a beta of 0.50. Entergy Corporation has a 12 month low of $86.40 and a 12 month high of $118.44. The stock has a 50 day moving average of $111.55 and a 200-day moving average of $109.57.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Wednesday, July 29th. The utilities provider reported $1.03 EPS for the quarter, topping the consensus estimate of $1.01 by $0.02. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.49 billion. Entergy had a net margin of 13.40% and a return on equity of 10.53%. During the same quarter in the previous year, the firm posted $1.05 EPS. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities research analysts predict that Entergy Corporation will post 4.4 EPS for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Thursday, August 13th will be given a $0.64 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.4%. Entergy's dividend payout ratio (DPR) is presently 65.64%.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 10,638 shares of Entergy stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total value of $1,170,180.00. Following the transaction, the insider directly owned 14,182 shares of the company's stock, valued at $1,560,020. This trade represents a 42.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp purchased 1,000 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was acquired at an average price of $106.08 per share, for a total transaction of $106,080.00. Following the purchase, the director owned 3,423 shares in the company, valued at approximately $363,111.84. The trade was a 41.27% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.21% of the stock is owned by insiders.

About Entergy

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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