Vanguard Group Inc. Has $4.69 Billion Stock Position in Entergy Corporation (NYSE:ETR)

Key Points

• Vanguard Group Inc. has increased its stake in Entergy Corporation by 5.2%, owning approximately 54.8 million shares worth around $4.7 billion after adding nearly 2.7 million shares in Q1.
• Entergy's recent quarterly earnings exceeded estimates, reporting an EPS of $1.05, while analysts forecast a total EPS of $3.88 for the fiscal year.
• Entergy announced a quarterly dividend of $0.60 per share, representing a 2.7% yield, and has a payout ratio of nearly 60%.

Vanguard Group Inc. increased its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 5.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,828,994 shares of the utilities provider's stock after purchasing an additional 2,695,348 shares during the period. Vanguard Group Inc. owned approximately 12.73% of Entergy worth $4,687,331,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ETR. Bank of America Corp DE increased its holdings in Entergy by 142.8% in the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after buying an additional 10,347,926 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Entergy by 71.4% during the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after purchasing an additional 5,368,396 shares in the last quarter. Capital International Investors boosted its position in Entergy by 103.6% during the fourth quarter. Capital International Investors now owns 7,773,654 shares of the utilities provider's stock worth $589,389,000 after acquiring an additional 3,956,122 shares during the last quarter. Capital Research Global Investors boosted its position in Entergy by 58.8% during the fourth quarter. Capital Research Global Investors now owns 6,375,510 shares of the utilities provider's stock worth $483,391,000 after acquiring an additional 2,359,445 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Entergy by 80.9% during the fourth quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock worth $354,317,000 after acquiring an additional 2,089,169 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the sale, the insider owned 3,318 shares in the company, valued at approximately $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.39% of the company's stock.

Entergy Stock Performance

NYSE ETR traded down $0.09 on Friday, hitting $90.44. The stock had a trading volume of 1,627,361 shares, compared to its average volume of 2,917,138. The company's 50-day moving average is $84.36 and its two-hundred day moving average is $83.49. The stock has a market cap of $40.37 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 2.46 and a beta of 0.57. Entergy Corporation has a one year low of $57.65 and a one year high of $92.40. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same period in the prior year, the business posted $1.92 EPS. On average, analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on ETR shares. Morgan Stanley decreased their price target on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. BMO Capital Markets boosted their price objective on shares of Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Raymond James Financial initiated coverage on shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. Finally, Barclays lowered their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.07.

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.