Allstate Corp Invests $1.59 Million in Entergy Corporation $ETR

Allstate Corp bought a new stake in Entergy Corporation (NYSE:ETR) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 17,018 shares of the utilities provider’s stock, valued at approximately $1,586,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital A Wealth Management LLC lifted its position in Entergy by 5,466.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 328 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 bought a new position in Entergy in the second quarter valued at $30,000. Legacy Investment Solutions LLC bought a new position in Entergy in the second quarter valued at approximately $31,000. Finally, Brown Lisle Cummings Inc. grew its position in shares of Entergy by 105.6% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 518 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 266 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of research reports. TD Cowen started coverage on shares of Entergy in a research note on Friday, January 9th. They set a “buy” rating and a $108.00 target price for the company. Barclays set a $96.00 price objective on shares of Entergy and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Mizuho upped their price objective on Entergy from $97.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. BTIG Research raised Entergy to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Citigroup upped their target price on Entergy from $91.00 to $106.00 and gave the company a “neutral” rating in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.03.

Entergy Stock Performance

Entergy stock opened at $94.74 on Wednesday. The firm has a market capitalization of $42.31 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 2.15 and a beta of 0.66. 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 firm’s 50 day simple moving average is $93.85 and its 200 day simple moving average is $91.88. Entergy Corporation has a 1-year low of $75.55 and a 1-year high of $98.58.

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

Entergy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were given a dividend of $0.64 per share. This is a boost 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 is presently 63.21%.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 5,136 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 7,899 shares in the company, valued at $762,253.50. This trade represents a 39.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ralph Lewis Ropp purchased 1,000 shares of Entergy stock in a transaction that occurred on Wednesday, November 12th. The shares were purchased at an average cost of $96.69 per share, with a total value of $96,690.00. Following the transaction, the director directly owned 1,050 shares of the company’s stock, valued at $101,524.50. This represents a 2,000.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 10,179 shares of company stock valued at $981,707 in the last three months. Company insiders own 0.47% of the company’s stock.

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.