Magellan Asset Management Ltd Makes New $55.45 Million Investment in Entergy Corporation $ETR

Magellan Asset Management Ltd acquired a new position in Entergy Corporation (NYSE:ETR) during the second quarter, Holdings Channel reports. The firm acquired 482,755 shares of the utilities provider’s stock, valued at approximately $55,449,000. Entergy makes up approximately 1.2% of Magellan Asset Management Ltd’s holdings, making the stock its 26th biggest holding.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Entergy by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 58,537,223 shares of the utilities provider’s stock valued at $5,410,596,000 after purchasing an additional 589,317 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Entergy in the 2nd quarter worth $4,861,376,000. State Street Corp lifted its holdings in shares of Entergy by 4.4% during the fourth quarter. State Street Corp now owns 24,356,461 shares of the utilities provider’s stock valued at $2,251,268,000 after purchasing an additional 1,018,503 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Entergy by 54.9% in the 4th quarter. JPMorgan Chase & Co. now owns 22,694,994 shares of the utilities provider’s stock worth $2,097,699,000 after purchasing an additional 8,046,287 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Entergy by 5.3% in the first quarter. Bank of America Corp DE now owns 17,369,775 shares of the utilities provider’s stock worth $1,951,668,000 after buying an additional 870,847 shares during the period. Institutional investors own 88.07% of the company’s stock.

Insider Activity

In other Entergy news, insider Haley Fisackerly sold 10,638 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total value of $1,170,180.00. Following the completion of the sale, the insider owned 14,182 shares of the company’s stock, valued at $1,560,020. The trade was a 42.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ralph Lewis Ropp acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of $106.08 per share, for a total transaction of $106,080.00. Following the completion of the purchase, the director directly owned 3,423 shares in the company, valued at $363,111.84. This represents 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 owned by company insiders.

Wall Street Analyst Weigh In

ETR has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Entergy in a report on Wednesday, June 10th. UBS Group reissued a “buy” rating and set a $135.00 target price (up from $131.00) on shares of Entergy in a research note on Thursday, April 30th. Mizuho set a $122.00 target price on Entergy and gave the company an “outperform” rating in a report on Wednesday, June 10th. Evercore reaffirmed an “outperform” rating and issued a $128.00 target price on shares of Entergy in a research report on Monday, August 17th. Finally, Truist Financial set a $122.00 price target on Entergy and gave the company a “buy” rating in a research report on Thursday, August 13th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Entergy presently has an average rating of “Moderate Buy” and an average target price of $120.84.

Entergy Stock Down 0.1%

ETR opened at $104.56 on Monday. The company has a market capitalization of $48.79 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.79 and a beta of 0.50. 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 fifty-two week low of $86.40 and a fifty-two week high of $118.44. The business has a 50-day moving average of $111.55 and a 200-day moving average of $109.66.

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

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 yield of 2.4%. The ex-dividend date is Thursday, August 13th. Entergy’s dividend payout ratio (DPR) is 65.64%.

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.