Eventide Asset Management LLC Purchases 52,723 Shares of Entergy Corporation $ETR

Eventide Asset Management LLC grew its position in Entergy Corporation (NYSE:ETR) by 9.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619,091 shares of the utilities provider’s stock after acquiring an additional 52,723 shares during the period. Entergy comprises about 1.1% of Eventide Asset Management LLC’s portfolio, making the stock its 29th largest holding. Eventide Asset Management LLC’s holdings in Entergy were worth $52,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Acropolis Investment Management LLC increased its position in Entergy by 0.7% during the 1st quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider’s stock worth $1,535,000 after purchasing an additional 129 shares in the last quarter. Gen Wealth Partners Inc lifted its position in shares of Entergy by 27.5% during the 4th quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 144 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in shares of Entergy by 18.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider’s stock valued at $90,000 after acquiring an additional 165 shares during the period. Horizon Investments LLC raised its holdings in Entergy by 1.8% during the first quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider’s stock worth $854,000 after buying an additional 176 shares during the last quarter. Finally, Glen Eagle Advisors LLC grew its position in Entergy by 100.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 180 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of the firm’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the sale, the insider owned 3,318 shares of the company’s stock, valued at $300,279. This trade represents a 57.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by insiders.

Entergy Stock Performance

Shares of NYSE ETR opened at $87.15 on Thursday. The firm’s 50-day moving average price is $86.91 and its 200-day moving average price is $84.41. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The company has a market cap of $38.90 billion, a PE ratio of 21.71, a PEG ratio of 2.40 and a beta of 0.61. Entergy Corporation has a 52-week low of $60.00 and a 52-week high of $92.40.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.14. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter last year, the firm posted $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy’s dividend payout ratio (DPR) is presently 59.85%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ETR shares. Mizuho set a $97.00 price target on shares of Entergy and gave the company an “outperform” rating in a research report on Thursday, July 31st. KeyCorp reissued an “overweight” rating and set a $96.00 price target (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Morgan Stanley set a $86.00 target price on shares of Entergy and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Barclays reduced their price objective on shares of Entergy from $91.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Entergy has an average rating of “Moderate Buy” and a consensus price target of $89.87.

About Entergy

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.