Rakuten Investment Management Inc. Makes New $2.48 Million Investment in Entergy Corporation $ETR

Rakuten Investment Management Inc. purchased a new stake in shares of Entergy Corporation (NYSE:ETR) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 26,607 shares of the utilities provider’s stock, valued at approximately $2,480,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised 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 grew its stake 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 buying an additional 10,476 shares in the last quarter. Farther Finance Advisors LLC raised its position in Entergy by 23.8% during the second quarter. Farther Finance Advisors LLC now owns 6,771 shares of the utilities provider’s stock valued at $563,000 after acquiring an additional 1,300 shares in the last quarter. Norden Group LLC lifted its stake in Entergy by 14.1% in the second quarter. Norden Group LLC now owns 5,458 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 676 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in Entergy by 4.7% in the second quarter. Mather Group LLC. now owns 11,950 shares of the utilities provider’s stock valued at $993,000 after acquiring an additional 535 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 5,136 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total value of $495,624.00. Following the completion of the sale, the insider directly owned 7,899 shares of the company’s stock, valued at $762,253.50. This represents a 39.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anastasia Minor sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the sale, the insider owned 10,122 shares in the company, valued at $975,659.58. This represents a 33.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 10,179 shares of company stock worth $981,707. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ETR. Weiss Ratings restated a “buy (b)” rating on shares of Entergy in a report on Thursday. Mizuho raised their target price on Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Wells Fargo & Company boosted their price target on Entergy from $105.00 to $119.00 and gave the stock an “overweight” rating in a research report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and set a $104.00 price target (up previously from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. Finally, Wall Street Zen raised Entergy from a “sell” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Entergy currently has an average rating of “Moderate Buy” and a consensus price target of $103.87.

Entergy Stock Down 0.4%

ETR stock opened at $93.21 on Friday. The stock has a market capitalization of $41.63 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 2.09 and a beta of 0.66. The company has a 50-day moving average of $93.78 and a two-hundred day moving average of $92.00. Entergy Corporation has a 52-week low of $75.55 and a 52-week high of $98.58. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.48.

Entergy (NYSE:ETR) last posted its quarterly earnings data 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. Entergy had a return on equity of 11.53% and a net margin of 14.26%.The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the previous year, the firm earned $2.99 EPS. Entergy has set its FY 2025 guidance at 3.850-3.950 EPS. As a group, equities research analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were given a $0.64 dividend. This is a positive change from Entergy’s previous quarterly dividend of $0.60. This represents a $2.56 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, November 13th. Entergy’s dividend payout ratio (DPR) is currently 63.21%.

About Entergy

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.