Oliver Luxxe Assets LLC Buys 23,421 Shares of Entergy Corporation $ETR

Key Points

• Oliver Luxxe Assets LLC raised its holdings in Entergy Corporation by 38.0% during Q2, owning 85,077 shares valued at approximately $7 million, making Entergy its 17th biggest position.
• Institutional ownership of Entergy is substantial, with 88.07% of shares held by hedge funds and other institutional investors; TD Asset Management lifted its position by 964.8% in Q1.
• Analysts have positive forecasts for Entergy, with a consensus rating of "Moderate Buy" and an average price target of $89.87, following various upgrades and new ratings from brokerages.

Oliver Luxxe Assets LLC boosted its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 38.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,077 shares of the utilities provider's stock after purchasing an additional 23,421 shares during the quarter. Entergy comprises approximately 1.3% of Oliver Luxxe Assets LLC's investment portfolio, making the stock its 17th biggest position. Oliver Luxxe Assets LLC's holdings in Entergy were worth $7,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. My Legacy Advisors LLC lifted its holdings in shares of Entergy by 0.8% during the second quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider's stock worth $1,361,000 after buying an additional 128 shares in the last quarter. Acropolis Investment Management LLC lifted its holdings in shares of Entergy by 0.7% during the first quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock worth $1,535,000 after buying an additional 129 shares in the last quarter. Mattson Financial Services LLC lifted its holdings in shares of Entergy by 100.0% during the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock worth $26,000 after buying an additional 150 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Entergy by 18.6% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock worth $90,000 after buying an additional 165 shares in the last quarter. Finally, Horizon Investments LLC lifted its holdings in shares of Entergy by 1.8% during the first quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider's stock worth $854,000 after buying an additional 176 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 value of $403,901.50. Following the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley set a $86.00 target price on Entergy and gave the stock an "outperform" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. lifted their target price on Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Jefferies Financial Group began coverage on Entergy in a research note on Thursday, September 4th. They issued a "buy" rating and a $109.00 price target for the company. Mizuho set a $97.00 price target on Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Barclays dropped their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.87.

Entergy Trading Up 0.7%

Shares of NYSE:ETR traded up $0.60 during midday trading on Monday, hitting $89.27. 2,324,535 shares of the stock were exchanged, compared to its average volume of 2,456,815. The stock has a market capitalization of $39.85 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 2.41 and a beta of 0.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. The business's 50-day moving average price is $88.59 and its 200 day moving average price is $84.71. Entergy Corporation has a 12 month low of $64.38 and a 12 month high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.14. The company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%.During the same period in the previous year, the business posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were issued 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 was Wednesday, August 13th. Entergy's payout ratio is 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.