Thrivent Financial for Lutherans Raises Stock Holdings in Entergy Corporation $ETR

Key Points

• Thrivent Financial for Lutherans increased its Entergy stake by 0.6% in the fourth quarter, adding 13,082 shares and bringing its total holding to 2.11 million shares valued at about $194.9 million.
• Wall Street sentiment is mostly positive, with Entergy carrying a consensus “Moderate Buy” rating and an average target price of $119.21. Several analysts recently reiterated or raised targets, including Jefferies at $131 and KeyCorp at $123.
• Entergy reported stronger-than-expected quarterly results, posting EPS of $0.86 versus $0.84 expected and revenue of $3.19 billion versus $2.89 billion expected. The company also announced a quarterly dividend of $0.64 per share, or $2.56 annualized, for a 2.3% yield.

Thrivent Financial for Lutherans lifted its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,109,003 shares of the utilities provider's stock after purchasing an additional 13,082 shares during the quarter. Thrivent Financial for Lutherans owned 0.47% of Entergy worth $194,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. New York Life Investment Management LLC grew its holdings in shares of Entergy by 1.0% during the fourth quarter. New York Life Investment Management LLC now owns 61,359 shares of the utilities provider's stock worth $5,671,000 after purchasing an additional 609 shares in the last quarter. Western Wealth Management LLC boosted its stake in Entergy by 13.7% in the fourth quarter. Western Wealth Management LLC now owns 5,016 shares of the utilities provider's stock worth $464,000 after buying an additional 603 shares in the last quarter. Allworth Financial LP boosted its stake in Entergy by 25.6% in the fourth quarter. Allworth Financial LP now owns 11,920 shares of the utilities provider's stock worth $1,102,000 after buying an additional 2,426 shares in the last quarter. Ameritas Advisory Services LLC boosted its stake in Entergy by 3,438.0% in the fourth quarter. Ameritas Advisory Services LLC now owns 14,718 shares of the utilities provider's stock worth $1,360,000 after buying an additional 14,302 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in Entergy by 1.4% in the fourth quarter. Independent Advisor Alliance now owns 32,910 shares of the utilities provider's stock worth $3,042,000 after buying an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ETR shares. Siebert Williams Shank started coverage on Entergy in a research note on Tuesday, January 20th. They issued a "buy" rating and a $109.00 target price for the company. Morgan Stanley set a $98.00 target price on Entergy in a research note on Friday, February 20th. Wall Street Zen raised Entergy from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 2nd. KeyCorp reaffirmed an "overweight" rating and issued a $123.00 target price (up from $118.00) on shares of Entergy in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $131.00 target price (up from $114.00) on shares of Entergy in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $119.21.

Insider Buying and Selling at Entergy

In other news, EVP John C. Dinelli sold 5,372 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $103.95, for a total transaction of $558,419.40. Following the completion of the sale, the executive vice president owned 23,609 shares of the company's stock, valued at approximately $2,454,155.55. This represents a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company's stock.

Entergy Stock Performance

NYSE:ETR opened at $112.84 on Friday. The firm has a market cap of $51.67 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 1.92 and a beta of 0.54. Entergy Corporation has a fifty-two week low of $80.11 and a fifty-two week high of $118.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.73 and a current ratio of 0.96. The business has a 50 day moving average price of $110.58 and a 200-day moving average price of $101.34.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.02. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $2.89 billion. Entergy had a return on equity of 10.75% and a net margin of 13.48%.During the same quarter in the prior year, the firm posted $0.82 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts predict that Entergy Corporation will post 4.4 earnings per share for the current year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 1st will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, May 1st. Entergy's dividend payout ratio is 65.31%.

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.

Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Corporation (NYSE:ETR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.