Bornite Capital Management LP Boosts Stake in Entergy Corporation $ETR

Bornite Capital Management LP boosted its holdings in Entergy Corporation (NYSE:ETR) by 3,646.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 412,100 shares of the utilities provider’s stock after acquiring an additional 401,100 shares during the quarter. Entergy accounts for about 3.4% of Bornite Capital Management LP’s investment portfolio, making the stock its 14th largest position. Bornite Capital Management LP owned 0.09% of Entergy worth $34,254,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. TD Asset Management Inc raised its stake in Entergy by 964.8% in the first 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. grew its stake in Entergy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider’s stock worth $4,687,331,000 after buying an additional 2,695,348 shares in the last quarter. Alkeon Capital Management LLC bought a new position in shares of Entergy in the 1st quarter worth $194,429,000. Nuveen LLC purchased a new stake in shares of Entergy during the 1st quarter valued at $123,648,000. Finally, Zimmer Partners LP lifted its holdings in shares of Entergy by 285.5% during the 1st quarter. Zimmer Partners LP now owns 1,133,474 shares of the utilities provider’s stock worth $96,901,000 after acquiring an additional 839,474 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Shares of Entergy stock opened at $97.12 on Friday. The firm has a market cap of $43.37 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.63. Entergy Corporation has a 12-month low of $72.64 and a 12-month high of $98.58. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 1.62. The company’s fifty day simple moving average is $93.06 and its two-hundred day simple moving average is $87.68.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. The firm had revenue of $2.37 billion during the quarter. Entergy had a net margin of 14.26% and a return on equity of 11.53%. As a group, equities analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Thursday, November 13th will be given a $0.64 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Entergy’s previous quarterly dividend of $0.60. Entergy’s dividend payout ratio is 63.21%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ETR. Mizuho raised their price objective on Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Evercore ISI increased their target price on shares of Entergy from $98.00 to $101.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Morgan Stanley set a $93.00 target price on shares of Entergy and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Barclays set a $100.00 price target on shares of Entergy and gave the company an “overweight” rating in a research report on Monday, October 6th. Finally, BTIG Research upgraded Entergy to a “strong-buy” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.37.

Insider Activity at Entergy

In other news, insider Anastasia Minor sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 10,122 shares of the company’s stock, valued at approximately $975,659.58. The trade was a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 5,136 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was 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. The trade was a 39.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,324 shares of company stock worth $994,902 over the last three months. Insiders own 0.39% of the company’s stock.

Entergy Profile

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.