482,755 Shares in Entergy Corporation $ETR Bought by Magellan Asset Management Ltd

Magellan Asset Management Ltd bought a new stake in Entergy Corporation (NYSE:ETR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 482,755 shares of the utilities provider’s stock, valued at approximately $55,449,000. Entergy comprises approximately 1.2% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 26th largest holding. Magellan Asset Management Ltd owned about 0.10% of Entergy at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Entergy by 275.6% during the 4th quarter. Brighton Jones LLC now owns 9,176 shares of the utilities provider’s stock worth $696,000 after purchasing an additional 6,733 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Entergy by 40.7% during the first quarter. Woodline Partners LP now owns 36,228 shares of the utilities provider’s stock valued at $3,097,000 after acquiring an additional 10,476 shares during the last quarter. Marshall Wace LLP acquired a new position in Entergy in the 2nd quarter valued at about $6,869,000. Brown Advisory Inc. raised its stake in Entergy by 4.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,254 shares of the utilities provider’s stock valued at $354,000 after purchasing an additional 193 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Entergy during the second quarter worth about $17,225,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Entergy from $129.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. BMO Capital Markets raised their price objective on Entergy from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Morgan Stanley set a $105.00 target price on Entergy and gave the company an “equal weight” rating in a research note on Friday. Wells Fargo & Company raised their target price on shares of Entergy from $123.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, BTIG Research reaffirmed a “buy” rating and set a $126.00 price target on shares of Entergy in a research report on Wednesday, June 10th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.84.

Entergy Stock Performance

NYSE ETR opened at $104.56 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.70. Entergy Corporation has a 1-year low of $86.40 and a 1-year high of $118.44. The firm has a market capitalization of $48.79 billion, a P/E ratio of 26.81, a P/E/G ratio of 1.79 and a beta of 0.50. The business’s 50-day simple moving average is $111.55 and its 200-day simple moving average is $109.66.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $1.01 by $0.02. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.49 billion. Entergy had a net margin of 13.40% and a return on equity of 10.53%. During the same quarter last year, the firm posted $1.05 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. Equities analysts predict that Entergy Corporation will post 4.4 EPS for the current year.

Entergy Dividend Announcement

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

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.