Entergy Corporation $ETR Position Boosted by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC grew its position in Entergy Corporation (NYSE:ETR) by 89.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,092,624 shares of the utilities provider’s stock after acquiring an additional 515,022 shares during the quarter. Entergy makes up approximately 5.5% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. HITE Hedge Asset Management LLC’s holdings in Entergy were worth $101,822,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Entergy by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 57,947,906 shares of the utilities provider’s stock worth $5,400,165,000 after purchasing an additional 1,488,238 shares in the last quarter. State Street Corp lifted its position in Entergy by 4.5% during the second quarter. State Street Corp now owns 22,920,881 shares of the utilities provider’s stock valued at $1,905,184,000 after buying an additional 981,750 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Entergy by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 14,648,707 shares of the utilities provider’s stock valued at $1,365,113,000 after buying an additional 472,761 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Entergy by 3.6% during the second quarter. Ameriprise Financial Inc. now owns 13,652,982 shares of the utilities provider’s stock worth $1,134,850,000 after buying an additional 479,093 shares during the period. Finally, Geode Capital Management LLC grew its stake in Entergy by 4.7% during the second quarter. Geode Capital Management LLC now owns 11,242,611 shares of the utilities provider’s stock worth $930,541,000 after buying an additional 505,344 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ETR. TD Cowen began coverage on shares of Entergy in a research note on Friday, January 9th. They issued a “buy” rating and a $108.00 target price on the stock. Barclays set a $96.00 price target on shares of Entergy and gave the stock an “overweight” rating in a research report on Thursday, January 15th. JPMorgan Chase & Co. lowered their price target on Entergy from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, December 11th. Wall Street Zen lowered Entergy from a “hold” rating to a “sell” rating in a research report on Sunday, February 22nd. Finally, Morgan Stanley set a $98.00 price objective on Entergy in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.61.

Insider Transactions at Entergy

In related news, EVP John C. Dinelli sold 5,372 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $103.95, for a total value of $558,419.40. Following the sale, the executive vice president directly owned 23,609 shares of the company’s stock, valued at $2,454,155.55. This represents a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.39% of the stock is owned by corporate insiders.

Entergy Trading Up 0.6%

Shares of ETR opened at $104.46 on Friday. Entergy Corporation has a one year low of $75.57 and a one year high of $107.93. The stock has a 50-day moving average price of $99.38 and a 200 day moving average price of $95.36. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.51 and a current ratio of 0.74. The company has a market capitalization of $47.32 billion, a P/E ratio of 26.72, a P/E/G ratio of 2.05 and a beta of 0.64.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Thursday, February 12th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Entergy had a return on equity of 10.89% and a net margin of 13.66%.During the same quarter in the prior year, the firm earned $0.66 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. Sell-side analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 9th were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, February 9th. Entergy’s payout ratio is 65.47%.

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.