Entergy Corporation (NYSE:ETR) Shares Purchased by Corebridge Financial Inc.

Corebridge Financial Inc. grew its holdings in shares of Entergy Corporation (NYSE:ETR) by 91.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,520 shares of the utilities provider’s stock after purchasing an additional 48,440 shares during the period. Corebridge Financial Inc.’s holdings in Entergy were worth $7,697,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ETR. Acropolis Investment Management LLC grew its holdings in Entergy by 0.8% during the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock worth $1,163,000 after acquiring an additional 69 shares during the period. Hall Laurie J Trustee grew its stake in shares of Entergy by 50.0% during the 4th quarter. Hall Laurie J Trustee now owns 450 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 150 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Entergy by 0.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,336 shares of the utilities provider’s stock valued at $2,224,000 after purchasing an additional 162 shares in the last quarter. NBT Bank N A NY lifted its stake in shares of Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 170 shares during the period. Finally, Fortis Group Advisors LLC boosted its holdings in Entergy by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock worth $26,000 after buying an additional 172 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Down 0.2 %

Shares of NYSE ETR opened at $83.96 on Friday. Entergy Corporation has a 1 year low of $50.19 and a 1 year high of $88.38. The firm has a market cap of $36.17 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The firm’s 50 day moving average price is $83.30 and its 200 day moving average price is $75.59. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the firm earned $0.26 earnings per share. As a group, sell-side analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were given a $0.60 dividend. The ex-dividend date was Monday, February 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.86%. Entergy’s dividend payout ratio is presently 98.77%.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of research reports. Morgan Stanley lifted their price target on shares of Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. lifted their price objective on Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. KeyCorp lowered Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their price target on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, UBS Group increased their price objective on shares of Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.75.

Entergy 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.