iA Global Asset Management Inc. Boosts Stake in Entergy Corporation $ETR

iA Global Asset Management Inc. increased its holdings in Entergy Corporation (NYSE:ETR) by 34.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 142,460 shares of the utilities provider’s stock after buying an additional 36,377 shares during the quarter. iA Global Asset Management Inc.’s holdings in Entergy were worth $13,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ETR. New York State Teachers Retirement System raised its stake in Entergy by 5.4% during the 3rd quarter. New York State Teachers Retirement System now owns 433,613 shares of the utilities provider’s stock valued at $40,408,000 after buying an additional 22,148 shares during the last quarter. HB Wealth Management LLC increased its position in Entergy by 15.2% during the second quarter. HB Wealth Management LLC now owns 22,271 shares of the utilities provider’s stock valued at $1,851,000 after acquiring an additional 2,932 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Entergy by 13.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,279 shares of the utilities provider’s stock valued at $5,524,000 after acquiring an additional 7,212 shares during the last quarter. World Investment Advisors boosted its position in Entergy by 269.9% in the third quarter. World Investment Advisors now owns 22,384 shares of the utilities provider’s stock worth $2,086,000 after purchasing an additional 16,332 shares during the last quarter. Finally, Elite Wealth Management Inc. purchased a new position in Entergy in the third quarter worth about $1,127,000. Institutional investors own 88.07% of the company’s stock.

Entergy Trading Down 2.3%

Shares of Entergy stock opened at $93.51 on Friday. The company has a fifty day moving average of $93.81 and a 200 day moving average of $91.92. Entergy Corporation has a fifty-two week low of $75.55 and a fifty-two week high of $98.58. The company has a market capitalization of $41.76 billion, a P/E ratio of 23.09, a P/E/G ratio of 2.14 and a beta of 0.66. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.48 and a current ratio of 0.71.

Entergy (NYSE:ETR) last released its earnings results on Wednesday, October 29th. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.21. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Entergy had a return on equity of 11.53% and a net margin of 14.26%.During the same quarter last year, the business posted $2.99 earnings per share. Entergy has set its FY 2025 guidance at 3.850-3.950 EPS. On average, sell-side analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.7%. This is a boost from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, November 13th. Entergy’s payout ratio is presently 63.21%.

Insider Buying and Selling

In related news, Director Ralph Lewis Ropp acquired 1,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average price of $96.69 per share, with a total value of $96,690.00. Following the acquisition, the director directly owned 1,050 shares of the company’s stock, valued at approximately $101,524.50. This trade represents a 2,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Anastasia Minor sold 5,000 shares of Entergy stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total value of $481,950.00. Following the completion of the sale, the insider directly owned 10,122 shares in the company, valued at $975,659.58. This trade represents a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 10,179 shares of company stock worth $981,707. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ETR. Bank of America upped their price target on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. UBS Group reiterated a “buy” rating and issued a $105.00 price target (up from $96.00) on shares of Entergy in a research report on Wednesday, December 17th. Siebert Williams Shank started coverage on shares of Entergy in a research report on Tuesday. They set a “buy” rating and a $109.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Entergy from $113.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, December 11th. Finally, Wall Street Zen downgraded Entergy from a “hold” rating to a “sell” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.03.

Entergy Company Profile

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.