Ninepoint Partners LP Takes Position in Entergy Corporation $ETR

Key Points

• Ninepoint Partners bought 14,516 Entergy shares worth approximately $1.67 million in the second quarter. Institutional investors collectively own 88.07% of the utility company.
• Analysts maintain a generally positive outlook, with 17 Buy ratings, two Holds and one Sell; Entergy has a “Moderate Buy” consensus rating and an average price target of $121.05.
• Entergy reported quarterly EPS of $1.03, exceeding estimates, and declared a quarterly dividend of $0.64 per share, equivalent to a 2.4% annualized yield.

Ninepoint Partners LP purchased a new stake in Entergy Corporation (NYSE:ETR - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,516 shares of the utilities provider's stock, valued at approximately $1,667,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised 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 purchasing an additional 6,733 shares in the last quarter. Woodline Partners LP grew its position in shares of Entergy by 40.7% during the 1st quarter. Woodline Partners LP now owns 36,228 shares of the utilities provider's stock worth $3,097,000 after buying an additional 10,476 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Entergy during the 2nd quarter worth $6,869,000. Brown Advisory Inc. increased its stake 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 valued at $354,000 after buying an additional 193 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Entergy during the second quarter valued at $17,225,000. Institutional investors own 88.07% of the company's stock.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 10,638 shares of the firm's 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 completion of the sale, the insider directly owned 14,182 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp purchased 1,000 shares of Entergy stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $106.08 per share, for a total transaction of $106,080.00. Following the completion of the transaction, the director owned 3,423 shares of the company's stock, valued at approximately $363,111.84. This represents a 41.27% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ETR. Truist Financial set a $122.00 price objective on Entergy and gave the company a "buy" rating in a report on Thursday, August 13th. Barclays cut their target price on shares of Entergy from $124.00 to $119.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 3rd. Evercore restated an "outperform" rating and issued a $128.00 price target on shares of Entergy in a report on Monday. Morgan Stanley set a $109.00 price target on shares of Entergy in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Entergy from $129.00 to $139.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Seventeen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Entergy presently has an average rating of "Moderate Buy" and an average price target of $121.05.

Entergy Trading Down 0.5%

Shares of NYSE ETR opened at $107.47 on Friday. Entergy Corporation has a 1-year low of $86.40 and a 1-year high of $118.44. The business has a fifty day moving average price of $111.68 and a 200 day moving average price of $109.60. The stock has a market capitalization of $50.15 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 1.84 and a beta of 0.50. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.70.

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

Entergy Announces Dividend

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

Entergy 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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