Entergy Corporation (NYSE:ETR) Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc significantly increased its holdings in Entergy Corporation by 964.8%, acquiring over 2.7 million additional shares, bringing its total ownership to approximately $261 million.
• Entergy Corporation reported earnings per share (EPS) of $0.82 for the last quarter, exceeding analysts' estimates by $0.22, although its revenue fell short of expectations at $3.02 billion.
• The company declared a quarterly dividend of $0.60 per share, representing an annualized yield of 2.72%, with a dividend payout ratio of around 77.92%.

TD Asset Management Inc raised its stake in Entergy Corporation (NYSE:ETR - Free Report) by 964.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,055,698 shares of the utilities provider's stock after buying an additional 2,768,734 shares during the quarter. TD Asset Management Inc owned about 0.71% of Entergy worth $261,232,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ETR. Brighton Jones LLC lifted its position in Entergy by 275.6% in the fourth quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider's stock valued at $696,000 after buying an additional 6,733 shares during the last quarter. American Century Companies Inc. lifted its position in Entergy by 58.6% in the fourth quarter. American Century Companies Inc. now owns 239,358 shares of the utilities provider's stock valued at $18,148,000 after buying an additional 88,456 shares during the last quarter. Corebridge Financial Inc. lifted its position in Entergy by 91.3% in the fourth quarter. Corebridge Financial Inc. now owns 101,520 shares of the utilities provider's stock valued at $7,697,000 after buying an additional 48,440 shares during the last quarter. Prudential Financial Inc. increased its stake in Entergy by 68.3% during the fourth quarter. Prudential Financial Inc. now owns 235,625 shares of the utilities provider's stock worth $17,865,000 after purchasing an additional 95,649 shares during the period. Finally, Segall Bryant & Hamill LLC increased its stake in Entergy by 100.0% during the fourth quarter. Segall Bryant & Hamill LLC now owns 45,600 shares of the utilities provider's stock worth $3,457,000 after purchasing an additional 22,800 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Analysts Set New Price Targets

ETR has been the topic of a number of recent research reports. Raymond James Financial initiated coverage on shares of Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. Morgan Stanley cut their price target on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. KeyCorp boosted their price target on shares of Entergy from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. upped their target price on shares of Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Barclays cut their target price on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $86.46.

Entergy Stock Up 2.6%

Entergy stock traded up $2.34 during mid-day trading on Wednesday, hitting $90.58. The company had a trading volume of 2,509,259 shares, compared to its average volume of 3,628,810. The stock has a market cap of $39.02 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.36 and a beta of 0.59. Entergy Corporation has a 1 year low of $57.47 and a 1 year high of $91.46. The company has a quick ratio of 0.55, a current ratio of 0.82 and a debt-to-equity ratio of 1.91. The business has a fifty day moving average of $83.09 and a 200 day moving average of $82.96.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.14. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a return on equity of 11.43% and a net margin of 11.26%. During the same period in the prior year, the company earned $1.92 earnings per share. On average, sell-side analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed 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. This represents a $2.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Wednesday, August 13th. Entergy's payout ratio is currently 77.92%.

Entergy Company 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.