State of Wyoming Buys New Stake in Entergy Corporation $ETR

Key Points

• The State of Wyoming has acquired a new position in Entergy Corporation, purchasing 4,409 shares valued at approximately $377,000.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Entergy, with a price target of $88.50, highlighting positive sentiment among investment analysts.
• Entergy recently declared a quarterly dividend of $0.60 per share, with an annualized yield of 2.7%, reflecting the company's solid financial performance.

State of Wyoming bought a new stake in Entergy Corporation (NYSE:ETR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,409 shares of the utilities provider's stock, valued at approximately $377,000.

Other institutional investors have also modified their holdings of the company. Choreo LLC increased its holdings in shares of Entergy by 12.3% in the first 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 Entergy during the first quarter worth $3,896,000. J.W. Cole Advisors Inc. acquired a new position in Entergy during the first quarter worth $1,073,000. EverSource Wealth Advisors LLC grew its holdings in Entergy by 24.6% during the first quarter. EverSource Wealth Advisors LLC now owns 6,390 shares of the utilities provider's stock worth $546,000 after acquiring an additional 1,261 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Entergy by 25.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider's stock worth $6,708,000 after acquiring an additional 15,892 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ETR shares. Mizuho set a $97.00 price objective on Entergy and gave the stock an "outperform" rating in a report on Thursday, July 31st. KeyCorp restated an "overweight" rating and issued a $96.00 price objective (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Morgan Stanley set a $86.00 price objective on Entergy and gave the company an "outperform" rating in a research report on Thursday, August 21st. Raymond James Financial assumed coverage on Entergy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. Finally, Barclays reduced their target price on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.50.

Insider Activity

In related 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 sale, the insider owned 3,318 shares of the company's stock, valued at approximately $300,279. This trade represents a 57.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company's stock.

Entergy Stock Performance

NYSE:ETR traded down $0.26 during trading hours on Wednesday, reaching $87.15. 1,545,410 shares of the stock were exchanged, compared to its average volume of 2,372,229. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The firm has a 50 day simple moving average of $86.91 and a 200-day simple moving average of $84.41. Entergy Corporation has a 52 week low of $60.00 and a 52 week high of $92.40. The stock has a market capitalization of $38.90 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.40 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, topping analysts' consensus estimates of $0.91 by $0.14. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate 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. As a group, sell-side analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.8%. Entergy's dividend payout ratio (DPR) 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.