Entergy Corporation $ETR Shares Bought by Alkeon Capital Management LLC

Alkeon Capital Management LLC boosted its position in shares of Entergy Corporation (NYSE:ETR) by 14.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,604,291 shares of the utilities provider’s stock after buying an additional 330,000 shares during the period. Alkeon Capital Management LLC owned 0.58% of Entergy worth $216,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ETR. Mattson Financial Services LLC lifted 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 in the last quarter. Atwood & Palmer Inc. grew its position in shares of Entergy by 135.7% in the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. GoalVest Advisory LLC increased its holdings in shares of Entergy by 5,733.3% in the second quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 344 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Entergy in the second quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC purchased a new position in Entergy during the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Shares of ETR opened at $92.26 on Friday. The company has a market cap of $41.20 billion, a P/E ratio of 22.78, a PEG ratio of 2.34 and a beta of 0.62. Entergy Corporation has a fifty-two week low of $73.15 and a fifty-two week high of $98.58. 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 firm’s 50 day moving average price is $95.48 and its 200 day moving average price is $89.66.

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

Entergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Thursday, November 13th were issued a dividend of $0.64 per share. This is a positive change from Entergy’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, November 13th. This represents a $2.56 annualized dividend and a yield of 2.8%. Entergy’s dividend payout ratio (DPR) is currently 63.21%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ETR shares. Mizuho upped their target price on Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, October 27th. KeyCorp set a $102.00 target price on shares of Entergy and gave the company an “overweight” rating in a report on Friday. Jefferies Financial Group assumed coverage on shares of Entergy in a research note on Thursday, September 4th. They issued a “buy” rating and a $109.00 price target for the company. Royal Bank Of Canada raised shares of Entergy to a “moderate buy” rating in a research report on Tuesday, October 28th. Finally, Bank of America raised their price objective on Entergy from $88.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. 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 MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and an average target price of $102.53.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 5,136 shares of Entergy stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $96.50, for a total value of $495,624.00. Following the completion of the transaction, the insider owned 7,899 shares in the company, valued at approximately $762,253.50. This trade represents a 39.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anastasia Minor sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was 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 of the company’s stock, valued at approximately $975,659.58. This represents a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,179 shares of company stock valued at $981,707 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

Entergy Profile

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.