Magellan Asset Management Ltd Increases Position in Entergy Corporation $ETR

Magellan Asset Management Ltd raised its holdings in shares of Entergy Corporation (NYSE:ETR) by 26.2% in the first quarter, Holdings Channel.com reports. The firm owned 468,285 shares of the utilities provider’s stock after purchasing an additional 97,330 shares during the period. Magellan Asset Management Ltd’s holdings in Entergy were worth $52,617,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Fairway Wealth LLC bought a new position in Entergy during the 1st quarter valued at approximately $30,000. United Community Bank boosted its holdings in Entergy by 806.7% in the fourth quarter. United Community Bank now owns 272 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 242 shares in the last quarter. Washington Trust Advisors Inc. grew its stake in shares of Entergy by 119.4% in the fourth quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 154 shares during the last quarter. Union Savings Bank purchased a new stake in shares of Entergy in the fourth quarter worth $28,000. Finally, Valley National Advisers Inc. increased its holdings in shares of Entergy by 306.0% during the fourth quarter. Valley National Advisers Inc. now owns 341 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 257 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ETR shares. UBS Group reaffirmed a “buy” rating and issued a $135.00 price target (up from $131.00) on shares of Entergy in a research report on Thursday, April 30th. Wells Fargo & Company increased their price objective on shares of Entergy from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. BMO Capital Markets set a $123.00 price objective on shares of Entergy in a research note on Wednesday, June 10th. BTIG Research reaffirmed a “buy” rating and issued a $126.00 target price on shares of Entergy in a report on Wednesday, June 10th. Finally, Wall Street Zen upgraded shares of Entergy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Seventeen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and an average price target of $120.21.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 10,638 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total transaction of $1,170,180.00. Following the sale, the insider owned 14,182 shares of the company’s stock, valued at $1,560,020. This trade represents a 42.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.21% of the company’s stock.

Entergy Stock Up 0.2%

ETR stock opened at $112.14 on Wednesday. The stock has a market capitalization of $51.35 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.91 and a beta of 0.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.96 and a quick ratio of 0.73. Entergy Corporation has a 1-year low of $86.40 and a 1-year high of $118.44. The business has a fifty day moving average price of $112.16 and a 200-day moving average price of $107.31.

Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. Entergy had a return on equity of 10.75% and a net margin of 13.48%.The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the firm posted $0.82 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. Equities analysts forecast that Entergy Corporation will post 4.4 earnings per share for the current fiscal year.

Entergy Company 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.