JPMorgan Chase & Co. Buys 8,046,287 Shares of Entergy Corporation $ETR

JPMorgan Chase & Co. boosted its stake in shares of Entergy Corporation (NYSE:ETR) by 54.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,694,994 shares of the utilities provider’s stock after acquiring an additional 8,046,287 shares during the quarter. JPMorgan Chase & Co. owned about 0.05% of Entergy worth $2,097,699,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Syon Capital LLC increased its stake in Entergy by 34.3% during the fourth quarter. Syon Capital LLC now owns 6,391 shares of the utilities provider’s stock worth $591,000 after acquiring an additional 1,634 shares during the last quarter. ING Groep NV increased its stake in Entergy by 825.3% during the fourth quarter. ING Groep NV now owns 29,045 shares of the utilities provider’s stock worth $2,685,000 after acquiring an additional 25,906 shares during the last quarter. Cookson Peirce & Co. Inc. increased its stake in Entergy by 3.7% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 19,341 shares of the utilities provider’s stock worth $1,788,000 after acquiring an additional 691 shares during the last quarter. Vestcor Inc increased its stake in Entergy by 36.6% during the fourth quarter. Vestcor Inc now owns 78,692 shares of the utilities provider’s stock worth $7,274,000 after acquiring an additional 21,100 shares during the last quarter. Finally, OneAscent Financial Services LLC increased its stake in Entergy by 34.9% during the fourth quarter. OneAscent Financial Services LLC now owns 4,556 shares of the utilities provider’s stock worth $421,000 after acquiring an additional 1,178 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 10,638 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total value of $1,170,180.00. Following the transaction, the insider owned 14,182 shares of the company’s stock, valued at $1,560,020. This represents a 42.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 brokerages have weighed in on ETR. Morgan Stanley set a $94.00 price objective on Entergy in a research note on Thursday, May 21st. Truist Financial set a $127.00 target price on Entergy and gave the company a “buy” rating in a research note on Friday, May 29th. Barclays cut their target price on Entergy from $124.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Mizuho upped their target price on Entergy from $112.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Finally, JPMorgan Chase & Co. upped their target price on Entergy from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.58.

Entergy Trading Down 2.4%

ETR opened at $108.09 on Tuesday. The stock has a market cap of $49.49 billion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 1.89 and a beta of 0.50. The stock’s 50 day moving average price is $112.58 and its 200-day moving average price is $103.01. Entergy Corporation has a one year low of $80.11 and a one year high of $118.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.73 and a current ratio of 0.96.

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

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 1st were paid a $0.64 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.56 annualized dividend and a yield of 2.4%. Entergy’s dividend payout ratio is 65.31%.

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.