Opal Wealth Advisors LLC Buys New Position in Entergy Corporation $ETR

Opal Wealth Advisors LLC acquired a new stake in Entergy Corporation (NYSE:ETR) in the 2nd quarter, Holdings Channel reports. The firm acquired 880 shares of the utilities provider’s stock, valued at approximately $73,000.

Several other hedge funds also recently modified their holdings of ETR. TD Asset Management Inc boosted its position in shares of 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 acquiring an additional 2,768,734 shares during the period. Vanguard Group Inc. boosted its holdings in 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 during the period. Alkeon Capital Management LLC bought a new stake in Entergy in the 1st quarter valued at $194,429,000. Nuveen LLC bought a new stake in shares of Entergy in the first quarter valued at about $123,648,000. Finally, GAMMA Investing LLC lifted its stake in shares of Entergy by 9,289.4% in the first quarter. GAMMA Investing LLC now owns 1,327,660 shares of the utilities provider’s stock valued at $113,502,000 after buying an additional 1,313,520 shares during the period. 88.07% of the stock is owned by institutional investors.

Entergy Price Performance

Entergy stock opened at $90.78 on Wednesday. The company has a market capitalization of $40.52 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61. The business has a 50 day simple moving average of $88.75 and a 200 day simple moving average of $84.75. Entergy Corporation has a one year low of $64.38 and a one year high of $92.40. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.14. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%.During the same period last year, the business earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, sell-side analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy’s dividend payout ratio (DPR) is currently 59.85%.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the transaction, the insider owned 3,318 shares in the company, valued at approximately $300,279. The trade was a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. KeyCorp reiterated an “overweight” rating and issued a $96.00 price objective (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Barclays reduced their target price on Entergy from $91.00 to $87.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Jefferies Financial Group assumed coverage on Entergy in a research report on Thursday, September 4th. They issued a “buy” rating and a $109.00 target price for the company. Finally, Mizuho set a $97.00 price objective on shares of Entergy and gave the stock an “outperform” rating in a report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.87.

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.