Sumitomo Mitsui Trust Group Inc. Boosts Position in Entergy Corporation $ETR

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Entergy Corporation (NYSE:ETR) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,025,863 shares of the utilities provider’s stock after buying an additional 51,608 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Entergy worth $95,600,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ETR. Vanguard Group Inc. increased its holdings in Entergy by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 56,459,668 shares of the utilities provider’s stock worth $4,692,928,000 after acquiring an additional 1,630,674 shares during the period. State Street Corp grew its position in shares of Entergy by 4.5% during the 2nd quarter. State Street Corp now owns 22,920,881 shares of the utilities provider’s stock valued at $1,905,184,000 after purchasing an additional 981,750 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Entergy by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 13,652,982 shares of the utilities provider’s stock worth $1,134,850,000 after purchasing an additional 479,093 shares during the period. Geode Capital Management LLC raised its position in shares of Entergy by 4.7% in the second quarter. Geode Capital Management LLC now owns 11,242,611 shares of the utilities provider’s stock worth $930,541,000 after buying an additional 505,344 shares in the last quarter. Finally, Boston Partners boosted its stake in Entergy by 114.9% during the second quarter. Boston Partners now owns 6,940,628 shares of the utilities provider’s stock valued at $578,531,000 after buying an additional 3,710,814 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 5,136 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total value of $495,624.00. Following the sale, the insider owned 7,899 shares of the company’s stock, valued at $762,253.50. This trade represents a 39.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anastasia Minor sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the transaction, the insider owned 10,122 shares in the company, valued at $975,659.58. The trade was a 33.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,179 shares of company stock valued at $981,707 over the last three months. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

ETR has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Entergy in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on shares of Entergy from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, December 11th. BMO Capital Markets reissued an “outperform” rating and issued a $104.00 target price (up previously from $96.00) on shares of Entergy in a research note on Tuesday, October 14th. Morgan Stanley set a $91.00 price target on Entergy in a research report on Thursday, November 20th. Finally, Cowen started coverage on Entergy in a report on Thursday, January 8th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.19.

Entergy Stock Up 0.8%

ETR opened at $94.29 on Wednesday. Entergy Corporation has a 12 month low of $75.55 and a 12 month high of $98.58. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 1.62. The business’s 50-day moving average price is $93.95 and its 200-day moving average price is $91.41. The company has a market cap of $42.11 billion, a P/E ratio of 23.28, a P/E/G ratio of 2.09 and a beta of 0.66.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, October 29th. The utilities provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.21. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Entergy had a return on equity of 11.53% and a net margin of 14.26%.During the same period in the prior year, the business posted $2.99 EPS. Entergy has set its FY 2025 guidance at 3.850-3.950 EPS. On average, equities analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were issued a $0.64 dividend. This is a positive change from Entergy’s previous quarterly dividend of $0.60. This represents a $2.56 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, November 13th. Entergy’s dividend payout ratio (DPR) is 63.21%.

About Entergy

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.