Freestone Grove Partners LP Makes New $57.43 Million Investment in Entergy Corporation $ETR

Freestone Grove Partners LP acquired a new stake in Entergy Corporation (NYSE:ETR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 500,000 shares of the utilities provider’s stock, valued at approximately $57,430,000. Freestone Grove Partners LP owned 0.11% of Entergy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Callan Family Office LLC purchased a new stake in shares of Entergy in the second quarter valued at about $3,250,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Entergy by 4.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 928,984 shares of the utilities provider’s stock worth $87,194,000 after acquiring an additional 38,742 shares during the period. Illinois Municipal Retirement Fund raised its holdings in Entergy by 18.3% during the first quarter. Illinois Municipal Retirement Fund now owns 180,358 shares of the utilities provider’s stock worth $20,265,000 after purchasing an additional 27,868 shares in the last quarter. World Investment Advisors lifted its position in Entergy by 170.6% in the fourth quarter. World Investment Advisors now owns 60,579 shares of the utilities provider’s stock valued at $5,303,000 after purchasing an additional 38,195 shares during the period. Finally, Truist Financial Corp lifted its position in Entergy by 9.0% in the fourth quarter. Truist Financial Corp now owns 2,439,479 shares of the utilities provider’s stock valued at $225,481,000 after purchasing an additional 200,783 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Trading Up 1.0%

Shares of ETR opened at $107.26 on Thursday. Entergy Corporation has a twelve month low of $86.40 and a twelve month high of $118.44. 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 firm has a market capitalization of $50.05 billion, a P/E ratio of 27.50, a PEG ratio of 1.81 and a beta of 0.50. The firm’s 50-day moving average is $111.25 and its two-hundred day moving average is $109.86.

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

Entergy Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.56 annualized dividend and a yield of 2.4%. Entergy’s payout ratio is currently 65.64%.

Insiders Place Their Bets

In other Entergy news, insider Haley Fisackerly sold 10,638 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total transaction of $1,170,180.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp bought 1,000 shares of the stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $106.08 per share, for a total transaction of $106,080.00. Following the acquisition, the director directly owned 3,423 shares of the company’s stock, valued at $363,111.84. The trade was a 41.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ETR. Citigroup reiterated a “neutral” rating and set a $121.00 target price (up from $116.00) on shares of Entergy in a research report on Tuesday, May 5th. Barclays decreased their price target on Entergy from $124.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Weiss Ratings lowered Entergy from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, August 20th. Truist Financial set a $122.00 price objective on Entergy and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Evercore reissued an “outperform” rating and issued a $128.00 target price on shares of Entergy in a report on Monday, August 17th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Entergy has an average rating of “Moderate Buy” and an average price target of $120.84.

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.