Aviva PLC Increases Investment in Entergy Corporation

Aviva PLC has ramped up its shareholding in Entergy Co. (NYSE:ETR) by 6.7% during the third quarter, as per its latest report to the Securities and Exchange Commission (SEC). Aviva PLC now holds 3,206 shares in the utility company after purchasing an additional 200 shares, valuing their total holdings at approximately $297,000.

Other Major Investors Adjust Stakes

Alongside Aviva PLC, other major institutional investors and hedge funds have adjusted their stakes in Entergy. Vanguard Group Inc. upped their investment by 2.8% in the first quarter, reaching a total of 23,663,740 shares worth roughly $2.76 billion. BlackRock Inc. saw a 1.5% stake increase in the second quarter, now owning 17,680,096 shares valued at about $1.72 billion. Similarly, State Street Corp owned 12,739,479 shares after a 3.1% increase in the same quarter, with a valuation near $1.24 billion.

JPMorgan Chase & Co. and Geode Capital Management LLC were also among the firms to significantly boost their holdings. JPMorgan Chase & Co. upped their stake by a noteworthy 11.9% in the first quarter, whereas Geode Capital Management LLC saw a 6.2% rise in the second quarter. In total, hedge funds and institutional investors hold 86.52% of Entergy's stock.

Entergy's Stock Performance

At the stock market opening on a recent Friday, shares of Entergy were traded at $102.50. The company's stock has experienced a low of $87.10 and a peak of $111.90 over twelve months. Entergy Co. boasts a market capitalization of $21.68 billion, a price-to-earnings (P/E) ratio of 14.73, and a PEG ratio of 2.00, reflecting its stability and growth potential respectively. Its liquidity ratios, including a current ratio of 0.91 and a quick ratio of 0.65, alongside a debt-to-equity ratio of 1.80, provide investors with insight into financial health. The firm’s moving averages also indicate current stock performance trends.

In their latest financial disclosure, Entergy reported a $0.52 earnings per share (EPS) for the quarter, matching consensus estimates. Revenue was reported at $2.72 billion, below the predicted $3.27 billion. Comparatively, the company performed similarly in the previous year’s corresponding quarter. Analysts project that Entergy will register an EPS of 6.77 for the current fiscal year.

Dividend Announcement and Analyst Ratings

A recent dividend declaration promised shareholders a $1.13 dividend per share, paid in early March with an ex-dividend date in early February. This quarterly dividend is part of an annualized payout of $4.52, yielding 4.41%, while the dividend payout ratio stands at 64.94%.

Entergy has attracted various analyst evaluations, with price targets ranging and varying recommendations. Mizuho, Royal Bank of Canada, UBS Group, and Morgan Stanley among others have offered their perspectives on the stock, leading to an aggregated rating of "Moderate Buy" from MarketBeat data with an average price target of $110.82.

Corporate and Insider Activities

There has been notable insider activity within the company. An EVP, Marcus V. Brown, sold 38,417 shares in a disclosed transaction, with subsequent ownership details provided. Insiders currently own 0.39% of the company's stock.

About Entergy

Entergy Corporation operates a dual-segment business involving utility services and wholesale commodities, distributing electricity and natural gas across regions such as Arkansas, Louisiana, Mississippi, and Texas, which includes the City of New Orleans.

Finance, Investment, Energy