Bank of Nova Scotia Sells 51,203 Shares of Entergy Corporation $ETR

Bank of Nova Scotia reduced its position in shares of Entergy Corporation (NYSE:ETR) by 47.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,101 shares of the utilities provider’s stock after selling 51,203 shares during the period. Bank of Nova Scotia’s holdings in Entergy were worth $6,416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETR. JPMorgan Chase & Co. raised its stake in Entergy by 54.9% during the fourth quarter. JPMorgan Chase & Co. now owns 22,694,994 shares of the utilities provider’s stock worth $2,097,699,000 after acquiring an additional 8,046,287 shares in the last quarter. Norges Bank acquired a new stake in shares of Entergy during the 4th quarter valued at $528,313,000. Morgan Stanley boosted its holdings in shares of Entergy by 22.9% during the 4th quarter. Morgan Stanley now owns 10,651,436 shares of the utilities provider’s stock valued at $984,512,000 after acquiring an additional 1,986,369 shares in the last quarter. Raymond James Financial Inc. grew its position in Entergy by 89.6% during the 4th quarter. Raymond James Financial Inc. now owns 3,866,426 shares of the utilities provider’s stock worth $357,415,000 after acquiring an additional 1,826,782 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in Entergy during the 4th quarter worth $153,616,000. 88.07% of the stock is currently owned by institutional investors.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 10,638 shares of the firm’s stock in a transaction that occurred on 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 completion of 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 filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citigroup reiterated a “neutral” rating and issued a $121.00 target price (up from $116.00) on shares of Entergy in a research report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their price target on Entergy from $129.00 to $139.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. UBS Group reaffirmed a “buy” rating and issued a $135.00 price objective (up from $131.00) on shares of Entergy in a research note on Thursday, April 30th. Truist Financial set a $127.00 price objective on shares of Entergy and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Wells Fargo & Company raised their price objective on shares of Entergy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Seventeen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.05.

Entergy Stock Performance

Shares of ETR stock opened at $113.91 on Tuesday. The business’s 50 day simple moving average is $112.50 and its 200 day simple moving average is $107.94. 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 one year low of $86.40 and a one year high of $118.44. The stock has a market capitalization of $52.16 billion, a PE ratio of 29.06, a PEG ratio of 1.98 and a beta of 0.50.

Entergy (NYSE:ETR) last announced its earnings results on Wednesday, April 29th. The utilities provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $2.89 billion. Entergy had a net margin of 13.48% and a return on equity of 10.75%. During the same quarter last year, the firm earned $0.82 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, research analysts forecast that Entergy Corporation will post 4.4 earnings per share for the current year.

Entergy 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.