Sciencast Management LP Acquires New Stake in Entergy Corporation $ETR

Key Points

• Sciencast Management LP acquired 20,191 shares of Entergy Corporation valued at approximately $1.7 million, contributing to the increase in institutional ownership, which now stands at 88.07% of the stock.
• Entergy reported earnings of $1.05 per share, exceeding analyst expectations, while revenue came in at $3.02 billion, below predictions of $3.11 billion.
• The company announced a quarterly dividend of $0.60 per share, resulting in an annualized dividend yield of 2.8%, with a payout ratio of 59.85%.

Sciencast Management LP acquired a new stake in shares of Entergy Corporation (NYSE:ETR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 20,191 shares of the utilities provider's stock, valued at approximately $1,726,000.

Several other institutional investors also recently bought and sold shares of ETR. Millennium Management LLC boosted its holdings in Entergy by 474.0% during the 4th quarter. Millennium Management LLC now owns 3,876,985 shares of the utilities provider's stock valued at $293,953,000 after acquiring an additional 3,201,530 shares during the period. TD Asset Management Inc boosted its holdings in Entergy by 964.8% during the 1st quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider's stock valued at $261,232,000 after acquiring an additional 2,768,734 shares during the period. Vanguard Group Inc. boosted its holdings in Entergy by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock valued at $4,687,331,000 after acquiring an additional 2,695,348 shares during the period. Alkeon Capital Management LLC purchased a new stake in Entergy during the 1st quarter valued at about $194,429,000. Finally, Royal Bank of Canada boosted its holdings in Entergy by 80.9% during the 4th quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock valued at $354,317,000 after acquiring an additional 2,089,169 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Entergy in a report on Thursday, September 4th. They set a "buy" rating and a $109.00 target price for the company. KeyCorp restated an "overweight" rating and set a $96.00 target price (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. Raymond James Financial started coverage on Entergy in a report on Friday, June 13th. They set a "market perform" rating for the company. Barclays dropped their price objective on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Finally, Morgan Stanley set a $86.00 price objective on Entergy and gave the stock an "outperform" rating in a report on Thursday, August 21st. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $89.87.

Entergy Trading Up 0.5%

NYSE ETR traded up $0.46 on Friday, hitting $90.32. The company's stock had a trading volume of 2,082,846 shares, compared to its average volume of 2,287,449. Entergy Corporation has a 52-week low of $62.31 and a 52-week high of $92.40. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The company's 50-day simple moving average is $87.76 and its 200 day simple moving average is $84.53. The firm has a market cap of $40.32 billion, a P/E ratio of 22.50, a PEG ratio of 2.46 and a beta of 0.61.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.14. The company had revenue of $3.02 billion during 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 quarter last year, the business posted $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Research analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is presently 59.85%.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the firm'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 owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by 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.