Friedenthal Financial Boosts Stake in Entergy Corporation $ETR

Friedenthal Financial grew its stake in Entergy Corporation (NYSE:ETR) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,339 shares of the utilities provider’s stock after purchasing an additional 210 shares during the quarter. Friedenthal Financial’s holdings in Entergy were worth $942,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ETR. TD Asset Management Inc raised its stake in shares of Entergy by 964.8% in the 1st quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider’s stock valued at $261,232,000 after purchasing an additional 2,768,734 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Entergy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider’s stock valued at $4,687,331,000 after purchasing an additional 2,695,348 shares in the last quarter. Alkeon Capital Management LLC acquired a new stake in shares of Entergy in the 1st quarter valued at about $194,429,000. Nuveen LLC acquired a new stake in shares of Entergy in the 1st quarter valued at about $123,648,000. Finally, Zimmer Partners LP raised its stake in shares of Entergy by 285.5% in the 1st quarter. Zimmer Partners LP now owns 1,133,474 shares of the utilities provider’s stock valued at $96,901,000 after purchasing an additional 839,474 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.47% of the company’s stock.

Entergy Price Performance

Shares of NYSE:ETR opened at $95.90 on Wednesday. The firm’s 50 day moving average is $90.09 and its two-hundred day moving average is $85.45. Entergy Corporation has a 52 week low of $64.38 and a 52 week high of $98.58. The firm has a market capitalization of $42.81 billion, a P/E ratio of 23.89, a PEG ratio of 2.65 and a beta of 0.62. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

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

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were paid a $0.60 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. Entergy’s dividend payout ratio (DPR) is presently 59.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ETR shares. Weiss Ratings restated a “buy (b)” rating on shares of Entergy in a research note on Saturday, September 27th. Scotiabank set a $105.00 price objective on shares of Entergy and gave the stock an “outperform” rating in a research note on Friday. Barclays set a $100.00 price objective on shares of Entergy and gave the stock an “overweight” rating in a research note on Monday. Raymond James Financial began coverage on shares of Entergy in a research note on Friday, June 13th. They set a “market perform” rating on the stock. Finally, Mizuho set a $97.00 price objective on shares of Entergy and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

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.