Balyasny Asset Management L.P. Increases Stock Position in Entergy Corporation $ETR

Balyasny Asset Management L.P. raised its stake in shares of Entergy Corporation (NYSE:ETR) by 17.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,219,105 shares of the utilities provider’s stock after acquiring an additional 183,787 shares during the period. Balyasny Asset Management L.P. owned approximately 0.27% of Entergy worth $101,332,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ETR. Mattson Financial Services LLC increased its holdings in Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Atwood & Palmer Inc. boosted its position in shares of Entergy by 135.7% during the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock worth $27,000 after buying an additional 190 shares during the period. GoalVest Advisory LLC boosted its position in shares of Entergy by 5,733.3% during the second quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock worth $29,000 after buying an additional 344 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of Entergy in the second quarter valued at $30,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Entergy in the 2nd quarter valued at $31,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Entergy news, insider Anastasia Minor sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the transaction, the insider directly owned 10,122 shares in the company, valued at $975,659.58. This represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Haley Fisackerly sold 5,136 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total transaction of $495,624.00. Following the sale, the insider directly owned 7,899 shares in the company, valued at approximately $762,253.50. The trade was a 39.40% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 10,179 shares of company stock worth $981,707. 0.39% of the stock is currently owned by insiders.

Entergy Trading Down 1.1%

NYSE ETR opened at $92.26 on Friday. Entergy Corporation has a 52 week low of $73.15 and a 52 week high of $98.58. The firm has a 50 day moving average of $95.48 and a two-hundred day moving average of $89.66. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $41.20 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.34 and a beta of 0.62.

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

Entergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.56 annualized dividend and a dividend yield of 2.8%. This is an increase from Entergy’s previous quarterly dividend of $0.60. Entergy’s payout ratio is currently 63.21%.

Analysts Set New Price Targets

ETR has been the subject of a number of research analyst reports. Morgan Stanley set a $91.00 target price on Entergy in a report on Thursday, November 20th. Bank of America raised their price objective on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. KeyCorp set a $102.00 price objective on shares of Entergy and gave the company an “overweight” rating in a report on Friday. BTIG Research upgraded shares of Entergy to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Mizuho boosted their price target on shares of Entergy from $97.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.53.

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.