Sand Hill Global Advisors LLC Takes Position in Entergy Corporation $ETR

Key Points

• Sand Hill Global Advisors LLC acquired 31,861 shares of Entergy Corporation, valued at approximately $2,724,000, showcasing continued interest from institutional investors in the company.
• Analysts have adjusted their price targets for Entergy, with BMO Capital Markets raising it from $89.00 to $93.00, signaling a positive outlook on the stock.
• Entergy announced a quarterly dividend of $0.60 per share, reflecting a 2.7% dividend yield and a payout ratio of 59.85%.

Sand Hill Global Advisors LLC acquired a new stake in Entergy Corporation (NYSE:ETR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 31,861 shares of the utilities provider's stock, valued at approximately $2,724,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Choreo LLC lifted its stake in shares of Entergy by 12.3% in the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock valued at $816,000 after purchasing an additional 1,042 shares during the period. First American Trust FSB acquired a new position in shares of Entergy in the 1st quarter valued at about $3,896,000. J.W. Cole Advisors Inc. acquired a new position in Entergy during the 1st quarter worth approximately $1,073,000. Cambridge Investment Research Advisors Inc. raised its stake in Entergy by 25.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider's stock worth $6,708,000 after buying an additional 15,892 shares during the period. Finally, Summit Investment Advisors Inc. raised its stake in Entergy by 85.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,178 shares of the utilities provider's stock worth $317,000 after buying an additional 1,931 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETR has been the topic of a number of research reports. BMO Capital Markets upped their price target on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. KeyCorp reaffirmed an "overweight" rating and set a $96.00 price target (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Barclays dropped their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Morgan Stanley dropped their price target on Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, Raymond James Financial initiated coverage on Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. Six investment 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.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $88.07.

Entergy Stock Performance

Shares of ETR opened at $89.05 on Monday. 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 stock has a 50 day moving average price of $85.15 and a two-hundred day moving average price of $83.87. The firm has a market capitalization of $39.75 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.42 and a beta of 0.57. Entergy Corporation has a 52 week low of $58.46 and a 52 week high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.14. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates 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 prior year, the company posted $1.92 earnings per share. Equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. Entergy's dividend payout ratio is currently 59.85%.

Insider Activity

In other 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 completion of the transaction, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Entergy 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.

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