426,400 Shares in Entergy Corporation $ETR Acquired by Bornite Capital Management LP

Bornite Capital Management LP bought a new position in shares of Entergy Corporation (NYSE:ETR) during the second quarter, HoldingsChannel.com reports. The firm bought 426,400 shares of the utilities provider’s stock, valued at approximately $48,976,000. Entergy comprises 6.2% of Bornite Capital Management LP’s portfolio, making the stock its 8th biggest position.

Other hedge funds have also modified their holdings of the company. Washington Trust Advisors Inc. increased 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 purchasing an additional 154 shares in the last quarter. Union Savings Bank purchased a new position in shares of Entergy during the 4th quarter valued at $28,000. Bell Investment Advisors Inc bought a new position in Entergy in the 2nd quarter worth $28,000. Fairway Wealth LLC purchased a new stake in Entergy in the 1st quarter worth $30,000. Finally, Dynamic Wealth Strategies LLC purchased a new stake in Entergy in the 1st quarter worth $30,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Trading Up 0.6%

Shares of ETR stock opened at $106.96 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $49.91 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.82 and a beta of 0.50. Entergy Corporation has a 12-month low of $86.40 and a 12-month high of $118.44. The stock’s 50-day moving average price is $110.80 and its 200-day moving average price is $110.07.

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

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Thursday, August 13th were given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, August 13th. Entergy’s payout ratio is currently 65.64%.

Insider Transactions at Entergy

In other Entergy news, Director Ralph Lewis Ropp acquired 1,000 shares of the stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $106.08 per share, for a total transaction of $106,080.00. Following the completion of the transaction, the director directly owned 3,423 shares of the company’s stock, valued at $363,111.84. This trade represents a 41.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ETR. Evercore restated an “outperform” rating and issued a $128.00 price objective on shares of Entergy in a research report on Monday, August 17th. BTIG Research reissued a “buy” rating and set a $126.00 target price on shares of Entergy in a research note on Wednesday, June 10th. Mizuho set a $122.00 price target on Entergy and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Barclays dropped their price target on Entergy from $124.00 to $119.00 and set an “overweight” rating for the company in a research note on Wednesday, June 3rd. Finally, Scotiabank reaffirmed a “sector outperform” rating on shares of Entergy in a report on Wednesday, June 10th. Seventeen investment 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 a consensus rating of “Moderate Buy” and an average price target of $120.84.

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.