Premier Fund Managers Ltd Invests $2.28 Million in Entergy Corporation (NYSE:ETR)

Key Points

• Premier Fund Managers Ltd has acquired a new stake in Entergy Corporation worth approximately $2.28 million by purchasing 27,000 shares.
• Several institutional investors, including Brighton Jones LLC and American Century Companies Inc., have significantly increased their stakes in Entergy, reflecting strong investor interest.
• Analysts have set a consensus price target of $86.46 for Entergy, with several firms issuing buy ratings and increasing their target prices for the stock.

Premier Fund Managers Ltd purchased a new stake in Entergy Corporation (NYSE:ETR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 27,000 shares of the utilities provider's stock, valued at approximately $2,279,000.

Other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Entergy in the 1st quarter valued at $28,000. Grove Bank & Trust boosted its stake in Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock worth $30,000 after purchasing an additional 230 shares in the last quarter. Glen Eagle Advisors LLC boosted its stake in Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares in the last quarter. Legacy Investment Solutions LLC boosted its stake in Entergy by 85.1% in the fourth quarter. Legacy Investment Solutions LLC now owns 374 shares of the utilities provider's stock worth $31,000 after purchasing an additional 172 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc acquired a new position in Entergy in the fourth quarter worth $29,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Entergy Trading Down 0.8%

NYSE:ETR traded down $0.71 on Friday, reaching $89.72. The company's stock had a trading volume of 1,766,524 shares, compared to its average volume of 3,631,783. Entergy Corporation has a 1-year low of $57.58 and a 1-year high of $91.46. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.55 and a current ratio of 0.80. The firm has a market cap of $38.65 billion, a PE ratio of 22.36, a PEG ratio of 2.43 and a beta of 0.59. The business's 50-day moving average price is $83.41 and its two-hundred day moving average price is $83.09.

Entergy (NYSE:ETR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) 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 firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. Equities research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th will be given 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 of this dividend is Wednesday, August 13th. Entergy's dividend payout ratio is currently 59.85%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. BMO Capital Markets boosted their price objective on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Barclays dropped their target price on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. KeyCorp restated an "overweight" rating and set a $96.00 target price (up previously from $88.00) on shares of Entergy in a research report on Thursday. Finally, Raymond James Financial assumed coverage on Entergy in a research report on Friday, June 13th. They set a "market perform" rating for the company. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Entergy currently has a consensus rating of "Moderate Buy" and an average target price of $88.07.

Entergy Company 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.