Kayne Anderson Capital Advisors LP Purchases 3,061 Shares of Entergy Co. (NYSE:ETR)

Kayne Anderson Capital Advisors LP boosted its stake in Entergy Co. (NYSE:ETR) by 27.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,261 shares of the utilities provider’s stock after acquiring an additional 3,061 shares during the period. Kayne Anderson Capital Advisors LP’s holdings in Entergy were worth $1,443,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Entergy by 64.4% in the 3rd quarter. FMR LLC now owns 4,562,369 shares of the utilities provider’s stock worth $422,019,000 after acquiring an additional 1,787,977 shares in the last quarter. Bank of Nova Scotia grew its position in shares of Entergy by 2,786.9% during the 3rd quarter. Bank of Nova Scotia now owns 492,613 shares of the utilities provider’s stock valued at $45,567,000 after purchasing an additional 475,549 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Entergy by 220.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 685,186 shares of the utilities provider’s stock valued at $69,334,000 after purchasing an additional 471,291 shares in the last quarter. Truist Financial Corp grew its position in Entergy by 312.3% in the fourth quarter. Truist Financial Corp now owns 573,023 shares of the utilities provider’s stock worth $57,984,000 after acquiring an additional 434,046 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Entergy by 16.4% in the third quarter. JPMorgan Chase & Co. now owns 2,506,022 shares of the utilities provider’s stock worth $231,807,000 after acquiring an additional 352,847 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Reginald T. Jackson sold 9,229 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at approximately $235,465.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Reginald T. Jackson sold 9,229 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $108.71, for a total value of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now directly owns 2,166 shares in the company, valued at $235,465.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $100.35, for a total value of $200,700.00. Following the completion of the sale, the executive vice president now directly owns 16,037 shares of the company’s stock, valued at $1,609,312.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,229 shares of company stock worth $2,229,970. Company insiders own 0.54% of the company’s stock.

Entergy Price Performance

Shares of ETR traded up $0.03 during trading hours on Thursday, hitting $110.86. 156,628 shares of the stock were exchanged, compared to its average volume of 1,437,090. Entergy Co. has a 12-month low of $87.10 and a 12-month high of $111.24. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69. The stock’s 50-day moving average price is $104.40 and its two-hundred day moving average price is $101.44. The company has a market cap of $23.67 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 2.01 and a beta of 0.69.

Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a return on equity of 10.20% and a net margin of 17.75%. The firm had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. Entergy’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Wednesday, May 1st. Entergy’s dividend payout ratio (DPR) is presently 45.34%.

Analysts Set New Price Targets

Several analysts have issued reports on ETR shares. Scotiabank cut their price target on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. KeyCorp raised their target price on shares of Entergy from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. BMO Capital Markets increased their price target on shares of Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Barclays dropped their target price on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $117.00 target price on shares of Entergy in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Entergy presently has an average rating of “Moderate Buy” and a consensus target price of $109.45.

Entergy Company 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.