8,257 Shares in Entergy Corporation (NYSE:ETR) Bought by Strategy Asset Managers LLC

Key Points

• Strategy Asset Managers LLC has invested approximately $706,000 in Entergy Corporation, acquiring 8,257 shares of the utility provider.
• Several analysts have recently changed their price targets for Entergy, with BMO Capital Markets raising their target to $93.00 and JPMorgan Chase increasing theirs to $102.00.
• Entergy Corporation has announced a quarterly dividend of $0.60 per share, expected to be paid on September 2nd, representing an annualized yield of 2.7%.

Strategy Asset Managers LLC acquired a new stake in Entergy Corporation (NYSE:ETR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,257 shares of the utilities provider's stock, valued at approximately $706,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glen Eagle Advisors LLC grew its holdings in shares of Entergy by 100.0% during the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Entergy during the first quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc bought a new position in shares of Entergy during the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of Entergy during the fourth quarter valued at approximately $30,000. Finally, Grove Bank & Trust grew its holdings in shares of Entergy by 188.5% during the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 230 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on ETR shares. KeyCorp reaffirmed 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. Barclays reduced their price objective on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Morgan Stanley reduced their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. 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 report on Wednesday, April 30th. Finally, Mizuho set a $97.00 price objective on Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.07.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the sale, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. The trade was a 57.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Entergy Stock Down 0.1%

NYSE:ETR traded down $0.09 during trading hours on Friday, hitting $90.44. 1,627,361 shares of the stock traded hands, compared to its average volume of 2,917,138. The firm has a 50 day moving average price of $84.36 and a 200 day moving average price of $83.49. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. Entergy Corporation has a fifty-two week low of $57.65 and a fifty-two week high of $92.40. The firm has a market cap of $40.37 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 2.46 and a beta of 0.57.

Entergy (NYSE:ETR - Get Free Report) last announced 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. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the business earned $1.92 EPS. Equities research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

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