Freestone Grove Partners LP Invests $57.43 Million in Entergy Corporation $ETR

Freestone Grove Partners LP acquired a new position in shares of Entergy Corporation (NYSE:ETR) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 500,000 shares of the utilities provider’s stock, valued at approximately $57,430,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bell Investment Advisors Inc purchased a new stake in shares of Entergy in the second quarter valued at $28,000. Dynamic Wealth Strategies LLC purchased a new stake in Entergy during the 1st quarter worth about $30,000. Fairway Wealth LLC purchased a new stake in Entergy during the 1st quarter worth about $30,000. United Community Bank raised its stake in Entergy by 806.7% in the 4th quarter. United Community Bank now owns 272 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 242 shares during the last quarter. Finally, Washington Trust Advisors Inc. raised its stake in Entergy by 119.4% in the 4th quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Ralph Lewis Ropp purchased 1,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $106.08 per share, with a total value of $106,080.00. Following the completion of the purchase, the director directly owned 3,423 shares in the company, valued at approximately $363,111.84. This trade represents a 41.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Haley Fisackerly sold 10,638 shares of Entergy stock in a transaction 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 transaction, the insider owned 14,182 shares in the company, valued at approximately $1,560,020. This trade represents a 42.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.21% of the company’s stock.

Entergy Stock Up 1.0%

ETR opened at $107.26 on Thursday. Entergy Corporation has a 12 month low of $86.40 and a 12 month high of $118.44. The business has a 50-day moving average of $111.25 and a two-hundred day moving average of $109.86. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.70. The stock has a market capitalization of $50.05 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.81 and a beta of 0.50.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.02. Entergy had a net margin of 13.40% and a return on equity of 10.53%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period in the prior year, the firm posted $1.05 EPS. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. On average, research analysts expect that Entergy Corporation will post 4.4 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Thursday, August 13th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $2.56 annualized dividend and a yield of 2.4%. Entergy’s dividend payout ratio is 65.64%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ETR. BTIG Research reaffirmed a “buy” rating and set a $126.00 price target on shares of Entergy in a research note on Wednesday, June 10th. Citigroup reissued a “neutral” rating and issued a $121.00 price objective (up from $116.00) on shares of Entergy in a research report on Tuesday, May 5th. Wells Fargo & Company upped their price objective on shares of Entergy from $123.00 to $128.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Evercore restated an “outperform” rating and set a $128.00 target price on shares of Entergy in a research report on Monday, August 17th. Finally, Wall Street Zen cut shares of Entergy from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.84.

Entergy Company 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.