Saudi Central Bank Acquires 15,562 Shares of Entergy Corporation $ETR

Key Points

• Saudi Central Bank nearly doubled its Entergy stake in the second quarter, purchasing 15,562 additional shares and ending the period with 32,046 shares valued at approximately $3.68 million.
• Entergy reported quarterly earnings of $1.03 per share, narrowly beating estimates, while revenue reached $3.52 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $120.84.
• Entergy’s shares opened at $107.16, and the company recently paid a quarterly dividend of $0.64 per share, equivalent to an annualized $2.56 dividend and a 2.4% yield.

Saudi Central Bank boosted its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 94.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,046 shares of the utilities provider's stock after buying an additional 15,562 shares during the quarter. Saudi Central Bank's holdings in Entergy were worth $3,681,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. increased its stake in shares of Entergy by 119.4% in the fourth quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider's stock valued at $26,000 after buying an additional 154 shares during the period. Union Savings Bank bought a new stake in shares of Entergy during the 4th quarter valued at about $28,000. Bell Investment Advisors Inc bought a new position in shares of Entergy during the 2nd quarter worth approximately $28,000. Fairway Wealth LLC bought a new stake in Entergy in the first quarter valued at $30,000. Finally, Dynamic Wealth Strategies LLC bought a new stake in Entergy in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Buying and Selling

In other Entergy news, Director Ralph Lewis Ropp bought 1,000 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were purchased at an average price of $106.08 per share, for a total transaction of $106,080.00. Following the acquisition, the director owned 3,423 shares in the company, valued at approximately $363,111.84. This represents a 41.27% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ETR shares. BTIG Research restated a "buy" rating and set a $126.00 price objective on shares of Entergy in a report on Wednesday, June 10th. Scotiabank restated a "sector outperform" rating on shares of Entergy in a research note on Wednesday, June 10th. Jefferies Financial Group restated a "buy" rating on shares of Entergy in a research note on Wednesday, June 10th. JPMorgan Chase & Co. increased their price objective on Entergy from $129.00 to $139.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Finally, Mizuho set a $122.00 price target on Entergy and gave the company an "outperform" rating in a research report on Wednesday, June 10th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Entergy currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.84.

Entergy Stock Down 0.1%

Shares of NYSE:ETR opened at $107.16 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.70. The company has a market cap of $50.00 billion, a PE ratio of 27.48, a P/E/G ratio of 2.40 and a beta of 0.49. The stock's 50-day moving average is $110.32 and its 200 day moving average is $110.14. Entergy Corporation has a 1 year low of $86.40 and a 1 year high of $118.44.

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

Entergy Dividend Announcement

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

About Entergy

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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