Rakuten Investment Management Inc. Buys Shares of 26,607 Entergy Corporation $ETR

Rakuten Investment Management Inc. purchased a new position in shares of Entergy Corporation (NYSE:ETR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,607 shares of the utilities provider’s stock, valued at approximately $2,480,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. New York State Teachers Retirement System increased 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 period. HB Wealth Management LLC boosted its holdings in shares of Entergy by 15.2% in 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 in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of 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 period. World Investment Advisors raised its holdings in Entergy by 269.9% during 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 in the last quarter. Finally, Elite Wealth Management Inc. acquired a new stake in Entergy in the third quarter worth approximately $1,127,000. Institutional investors own 88.07% of the company’s stock.

Insider Activity

In other Entergy news, Director Ralph Lewis Ropp acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $96.69 per share, for a total transaction of $96,690.00. Following the transaction, the director owned 1,050 shares of the company’s stock, valued at $101,524.50. The trade was a 2,000.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anastasia Minor sold 5,000 shares of Entergy stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the transaction, the insider directly owned 10,122 shares in the company, valued at approximately $975,659.58. This trade represents a 33.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,179 shares of company stock worth $981,707 over the last quarter. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ETR. Wall Street Zen upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Friday. KeyCorp set a $102.00 price target on shares of Entergy and gave the company an “overweight” rating in a report on Friday, December 12th. TD Cowen started coverage on shares of Entergy in a research report on Friday, January 9th. They set a “buy” rating and a $108.00 price objective for the company. BTIG Research upgraded shares of Entergy to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Evercore ISI increased their target price on shares of Entergy from $98.00 to $101.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.87.

Entergy Price Performance

ETR stock opened at $93.21 on Friday. Entergy Corporation has a one year low of $75.55 and a one year high of $98.58. The firm has a 50-day moving average of $93.78 and a two-hundred day moving average of $92.00. The firm has a market capitalization of $41.63 billion, a PE ratio of 23.01, a P/E/G ratio of 2.09 and a beta of 0.66. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62.

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

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Thursday, November 13th were paid a dividend of $0.64 per share. This is an increase from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.56 annualized dividend and a yield of 2.7%. Entergy’s dividend payout ratio (DPR) is presently 63.21%.

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.