Entergy Co. (NYSE:ETR) Sees Large Increase in Short Interest

01 Jul 2024, 10:40 by Mitch Edgeman · The Markets Daily

Entergy Co. (NYSE:ETR – Get Free Report) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,550,000 shares, a growth of 51.7% from the May 31st total of 2,340,000 shares. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is currently 2.1 days.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Mizuho raised their price target on Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, May 31st. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $109.50 price target (down previously from $117.00) on shares of Entergy in a report on Wednesday, June 12th. Scotiabank decreased their price target on Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Barclays raised their target price on Entergy from $107.00 to $116.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Finally, Wells Fargo & Company raised their target price on Entergy from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $113.73.

View Our Latest Stock Analysis on ETR

Insider Transactions at Entergy

In other news, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Haley Fisackerly sold 1,500 shares of the firm’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 transaction, the insider now owns 2,479 shares in the company, valued at $273,260.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Reginald T. Jackson sold 9,229 shares of the firm’s stock in a transaction dated 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 owns 2,166 shares in the company, valued at approximately $235,465.86. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Entergy

A number of hedge funds and other institutional investors have recently bought and sold shares of ETR. Mariner LLC raised its position in Entergy by 24.2% in the 3rd quarter. Mariner LLC now owns 19,247 shares of the utilities provider’s stock valued at $1,780,000 after buying an additional 3,752 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Entergy by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 95,862 shares of the utilities provider’s stock valued at $8,867,000 after buying an additional 492 shares during the last quarter. Synovus Financial Corp acquired a new stake in Entergy in the 3rd quarter valued at approximately $210,000. Tower Research Capital LLC TRC raised its position in Entergy by 97.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 28,620 shares of the utilities provider’s stock valued at $2,647,000 after buying an additional 14,140 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Entergy by 3,345.9% in the 3rd quarter. Lazard Asset Management LLC now owns 172,674 shares of the utilities provider’s stock valued at $15,972,000 after buying an additional 167,663 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Trading Up 0.2 %

NYSE ETR opened at $107.00 on Monday. The firm has a market cap of $22.85 billion, a P/E ratio of 10.73, a P/E/G ratio of 2.02 and a beta of 0.71. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45. The stock’s 50-day moving average is $108.89 and its 200-day moving average is $104.30. Entergy has a one year low of $87.10 and a one year high of $114.28.

Entergy (NYSE:ETR – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The business had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. Entergy had a return on equity of 10.20% and a net margin of 17.75%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. Sell-side analysts anticipate that Entergy will post 7.22 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Wednesday, May 1st. Entergy’s dividend payout ratio is currently 45.34%.

About Entergy

(Get Free Report)

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.