Legal & General Group Plc Takes $430.40 Million Position in Entergy Corporation $ETR

Legal & General Group Plc acquired a new position in shares of Entergy Corporation (NYSE:ETR) in the second quarter, Holdings Channel reports. The institutional investor acquired 3,747,209 shares of the utilities provider’s stock, valued at approximately $430,404,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETR. Callan Family Office LLC bought a new stake in shares of Entergy in the 2nd quarter valued at $3,250,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Entergy by 4.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 928,984 shares of the utilities provider’s stock worth $87,194,000 after buying an additional 38,742 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Entergy by 18.3% during the first quarter. Illinois Municipal Retirement Fund now owns 180,358 shares of the utilities provider’s stock worth $20,265,000 after buying an additional 27,868 shares during the last quarter. World Investment Advisors lifted its holdings in Entergy by 170.6% in the fourth quarter. World Investment Advisors now owns 60,579 shares of the utilities provider’s stock valued at $5,303,000 after buying an additional 38,195 shares during the period. Finally, Truist Financial Corp lifted its holdings in Entergy by 9.0% in the fourth quarter. Truist Financial Corp now owns 2,439,479 shares of the utilities provider’s stock valued at $225,481,000 after buying an additional 200,783 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Haley Fisackerly sold 10,638 shares of Entergy stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total transaction of $1,170,180.00. Following the completion of the transaction, the insider directly owned 14,182 shares in the company, valued at $1,560,020. This trade represents a 42.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp bought 1,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $106.08 per share, with a total value of $106,080.00. Following the completion of the transaction, the director owned 3,423 shares of the company’s stock, valued at $363,111.84. This represents a 41.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

Entergy Trading Up 0.5%

Shares of Entergy stock opened at $106.28 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.70 and a current ratio of 0.91. Entergy Corporation has a 52 week low of $86.40 and a 52 week high of $118.44. The stock has a 50 day moving average price of $111.32 and a two-hundred day moving average price of $109.79. The stock has a market capitalization of $49.59 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.81 and a beta of 0.50.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. Entergy had a return on equity of 10.53% and a net margin of 13.40%.The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities analysts anticipate that Entergy Corporation will post 4.4 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.64 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.56 annualized dividend and a yield of 2.4%. Entergy’s dividend payout ratio is presently 65.64%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BMO Capital Markets increased their price target on Entergy from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Entergy from $129.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Jefferies Financial Group restated a “buy” rating on shares of Entergy in a research report on Wednesday, June 10th. Wall Street Zen cut Entergy from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. Finally, Weiss Ratings downgraded Entergy from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, August 20th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.84.

Entergy 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.