Bayesian Capital Management LP Buys New Shares in Entergy Co. (NYSE:ETR)

Bayesian Capital Management LP purchased a new stake in Entergy Co. (NYSE:ETR) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,800 shares of the utilities provider’s stock, valued at approximately $1,141,000.

Other hedge funds have also recently bought and sold shares of the company. Capital International Investors increased its holdings in Entergy by 64.2% during the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock worth $440,690,000 after buying an additional 1,630,057 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Entergy by 25.2% during the 4th quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock worth $400,901,000 after purchasing an additional 796,316 shares during the last quarter. ClearBridge Investments Ltd raised its holdings in shares of Entergy by 29.3% in the 4th quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock valued at $315,254,000 after purchasing an additional 706,059 shares during the period. Federated Hermes Inc. raised its holdings in shares of Entergy by 9.8% in the 4th quarter. Federated Hermes Inc. now owns 2,904,933 shares of the utilities provider’s stock valued at $293,950,000 after purchasing an additional 258,806 shares during the period. Finally, Capital Research Global Investors lifted its stake in Entergy by 22.5% in the 1st quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock valued at $290,963,000 after purchasing an additional 505,705 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Down 0.3 %

NYSE ETR opened at $116.04 on Wednesday. The company has a market cap of $24.78 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 2.16 and a beta of 0.71. Entergy Co. has a 1-year low of $87.10 and a 1-year high of $116.65. The company has a current ratio of 0.69, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. The company has a 50 day moving average of $108.56 and a 200-day moving average of $105.39.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th will be issued a $1.13 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $4.52 annualized dividend and a yield of 3.90%. Entergy’s dividend payout ratio is presently 45.34%.

Insider Activity

In related news, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the transaction, the insider now owns 2,479 shares of the company’s stock, valued at $273,260.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Haley Fisackerly sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total transaction of $165,345.00. Following the sale, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Reginald T. Jackson sold 9,229 shares of Entergy 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 in the company, valued at $235,465.86. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ETR shares. Wells Fargo & Company upped their price objective on Entergy from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. Mizuho lifted their price objective on shares of Entergy from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. KeyCorp increased their price objective on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Barclays reduced their target price on shares of Entergy from $116.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Finally, BMO Capital Markets lowered their price target on shares of Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.42.

About Entergy

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.