Entergy Corporation $ETR Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its stake in Entergy Corporation by 19.7%, owning 542,818 shares valued at approximately $46.41 million after selling 132,884 shares.
• Other institutional investors have increased their positions, with Bank of America Corp DE raising its stake by 142.8% and owning 17.6 million shares worth $1.33 billion.
• Entergy reported $1.05 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.60 per share, which results in an annual yield of 2.7%.

1832 Asset Management L.P. reduced its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 542,818 shares of the utilities provider's stock after selling 132,884 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.13% of Entergy worth $46,406,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Entergy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock valued at $4,687,331,000 after purchasing an additional 2,695,348 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after purchasing an additional 10,347,926 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Entergy by 2.2% in the 1st quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider's stock valued at $1,126,244,000 after purchasing an additional 289,468 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Entergy by 80.9% in the 4th quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock valued at $354,317,000 after purchasing an additional 2,089,169 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Entergy by 3.4% during the 1st quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock valued at $370,488,000 after acquiring an additional 143,187 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ETR has been the subject of several analyst reports. Barclays reduced their price objective on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Raymond James Financial began coverage on Entergy in a research note on Friday, June 13th. They set a "market perform" rating for the company. BMO Capital Markets increased their target price on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Mizuho set a $97.00 target price on Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, KeyCorp reissued an "overweight" rating and set a $96.00 target price (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $88.50.

Entergy Price Performance

Entergy stock traded down $0.04 during midday trading on Wednesday, reaching $89.56. 1,631,846 shares of the company were exchanged, compared to its average volume of 3,503,529. Entergy Corporation has a 1 year low of $59.05 and a 1 year high of $92.40. The company has a market capitalization of $39.98 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 2.43 and a beta of 0.57. The firm's 50-day simple moving average is $86.13 and its 200-day simple moving average is $84.20. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.14. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter in the prior year, the firm posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, August 13th. Entergy's dividend payout ratio is presently 59.85%.

Insider Activity

In related news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the sale, the insider directly owned 3,318 shares in the company, valued at approximately $300,279. The trade was a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

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.