Castleark Management LLC bought a new stake in Entergy Corporation (NYSE:ETR – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,970 shares of the utilities provider’s stock, valued at approximately $686,000.
Several other hedge funds also recently added to or reduced their stakes in ETR. Brighton Jones LLC boosted its stake in Entergy by 275.6% in the fourth quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider’s stock valued at $696,000 after acquiring an additional 6,733 shares in the last quarter. Woodline Partners LP boosted its position in shares of Entergy by 40.7% in the 1st quarter. Woodline Partners LP now owns 36,228 shares of the utilities provider’s stock valued at $3,097,000 after purchasing an additional 10,476 shares during the period. Marshall Wace LLP acquired a new position in Entergy during the second quarter worth approximately $6,869,000. Brown Advisory Inc. boosted its holdings in shares of Entergy by 4.8% in the second quarter. Brown Advisory Inc. now owns 4,254 shares of the utilities provider’s stock valued at $354,000 after acquiring an additional 193 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Entergy during the second quarter worth approximately $17,225,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.
Entergy Stock Performance
Shares of ETR stock opened at $107.26 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 1.73. The stock has a 50 day simple moving average of $111.25 and a 200-day simple moving average of $109.86. The company has a market cap of $50.05 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.81 and a beta of 0.50. Entergy Corporation has a 12-month low of $86.40 and a 12-month high of $118.44.
Entergy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.56 annualized dividend and a dividend yield of 2.4%. Entergy’s payout ratio is 65.64%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on ETR. BMO Capital Markets increased their price target on shares of Entergy from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Citigroup reiterated a “neutral” rating and set a $121.00 target price (up from $116.00) on shares of Entergy in a research note on Tuesday, May 5th. Truist Financial set a $122.00 price objective on Entergy and gave the company a “buy” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. increased their price objective on Entergy from $129.00 to $139.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Barclays lowered their target price on Entergy from $124.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $120.84.
Check Out Our Latest Analysis on ETR
Insider Buying and Selling
In related news, insider Haley Fisackerly sold 10,638 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total value of $1,170,180.00. Following the sale, the insider owned 14,182 shares in the company, valued at $1,560,020. This represents a 42.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp acquired 1,000 shares of Entergy stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average cost of $106.08 per share, with a total value of $106,080.00. Following the completion of the acquisition, the director owned 3,423 shares of the company’s stock, valued at $363,111.84. The trade was a 41.27% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.
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.
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