Entergy Co. (NYSE:ETR) Stake Cut by Brookstone Capital Management

Posted by Defense World Staff on Sep 24th, 2023

Brookstone Capital Management reduced its holdings in Entergy Co. (NYSE:ETR – Free Report) by 23.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,670 shares of the utilities provider’s stock after selling 821 shares during the period. Brookstone Capital Management’s holdings in Entergy were worth $260,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. lifted its stake in Entergy by 1,019.0% in the 1st quarter. Financial Management Professionals Inc. now owns 235 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 214 shares in the last quarter. Trust Co. of Vermont purchased a new stake in shares of Entergy during the 1st quarter worth about $26,000. Fairfield Bush & CO. purchased a new stake in shares of Entergy during the 1st quarter worth about $29,000. Dark Forest Capital Management LP raised its stake in shares of Entergy by 1,618.8% during the 4th quarter. Dark Forest Capital Management LP now owns 275 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 259 shares in the last quarter. Finally, BerganKDV Wealth Management LLC raised its stake in shares of Entergy by 1,167.9% during the 1st quarter. BerganKDV Wealth Management LLC now owns 355 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 327 shares in the last quarter. 86.52% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Performance

ETR opened at $96.55 on Friday. The firm has a market capitalization of $20.42 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 2.53 and a beta of 0.65. The stock’s 50 day moving average price is $97.77 and its two-hundred day moving average price is $101.27. The company has a quick ratio of 0.54, a current ratio of 0.80 and a debt-to-equity ratio of 1.84. Entergy Co. has a 12-month low of $91.80 and a 12-month high of $120.78.

Entergy (NYSE:ETR – Get Free Report) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.15. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $3.26 billion. Entergy had a return on equity of 10.22% and a net margin of 10.22%. During the same quarter last year, the firm posted $1.78 EPS. On average, equities analysts forecast that Entergy Co. will post 6.78 earnings per share for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were given a $1.07 dividend. The ex-dividend date was Thursday, August 10th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.43%. Entergy’s dividend payout ratio is currently 65.24%.

Insiders Place Their Bets

In other Entergy news, EVP Marcus V. Brown sold 13,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $95.40, for a total value of $1,287,900.00. Following the completion of the sale, the executive vice president now owns 9,251 shares in the company, valued at approximately $882,545.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ETR. BMO Capital Markets cut their price target on Entergy from $120.00 to $114.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Morgan Stanley raised their price target on Entergy from $94.00 to $97.00 and gave the stock an “underweight” rating in a research note on Thursday. StockNews.com assumed coverage on Entergy in a research note on Thursday, August 17th. They set a “hold” rating for the company. Royal Bank of Canada lowered their price objective on Entergy from $126.00 to $117.00 and set an “outperform” rating on the stock in a report on Wednesday, September 6th. Finally, JPMorgan Chase & Co. increased their price objective on Entergy from $121.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.75.

Read Our Latest Research Report on Entergy

Entergy Profile

(Free Report)

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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.