1,446,345 Shares in Entergy Corporation (NYSE:ETR) Purchased by Nuveen LLC

Key Points

• Nuveen LLC invested approximately $123.65 million in Entergy Corporation, acquiring over 1.4 million shares and increasing its ownership to 0.34% of the company.
• Entergy posted an EPS of $1.05 this quarter, surpassing expectations, but reported revenue of $3.02 billion, which was below analysts' forecasts.
• The company announced a quarterly dividend of $0.60, resulting in an annualized dividend yield of 2.6%, with a payout ratio of 59.85%.

Nuveen LLC purchased a new position in shares of Entergy Corporation (NYSE:ETR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,446,345 shares of the utilities provider's stock, valued at approximately $123,648,000. Nuveen LLC owned 0.34% of Entergy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new position in Entergy in the 1st quarter valued at $3,435,000. Bornite Capital Management LP purchased a new position in Entergy in the 1st quarter valued at $940,000. Entropy Technologies LP purchased a new position in Entergy in the 1st quarter valued at $2,701,000. Mizuho Markets Americas LLC grew its position in Entergy by 19.0% in the 1st quarter. Mizuho Markets Americas LLC now owns 1,190,000 shares of the utilities provider's stock valued at $101,733,000 after buying an additional 190,000 shares during the last quarter. Finally, True North Advisors LLC purchased a new position in Entergy in the 1st quarter valued at $405,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ETR shares. Barclays lowered their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. KeyCorp reiterated an "overweight" rating and issued a $96.00 price objective (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Mizuho set a $97.00 price objective on Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets increased their price objective on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Entergy has a consensus rating of "Moderate Buy" and an average target price of $88.07.

Insider Buying and Selling

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction dated 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 approximately $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company's stock.

Entergy Price Performance

Shares of ETR stock traded down $1.24 during mid-day trading on Friday, reaching $89.05. The stock had a trading volume of 4,104,742 shares, compared to its average volume of 2,711,109. Entergy Corporation has a 12-month low of $58.46 and a 12-month high of $92.40. The company has a market cap of $39.75 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 2.42 and a beta of 0.57. The business has a 50-day simple moving average of $85.15 and a 200 day simple moving average of $83.85. 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 (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates 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 last year, the business posted $1.92 earnings per share. On average, sell-side analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

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

About Entergy

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.