Allspring Global Investments Holdings LLC Decreases Stock Position in Entergy Corporation $ETR

Key Points

• Allspring Global Investments Holdings LLC decreased its stock position in Entergy Corporation by 29.4% during the second quarter, now holding 228,415 shares valued at approximately $18.85 million.
• Entergy recently reported earnings of $0.71 EPS for the quarter, with projected earnings of 3.88 EPS for the current year, alongside a 2.5% annualized dividend yield.
• Brokerages have set new price targets for Entergy, with a consensus rating of "Moderate Buy" and an average price target of $97.57.

Allspring Global Investments Holdings LLC decreased its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 29.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 228,415 shares of the utilities provider's stock after selling 95,347 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.05% of Entergy worth $18,851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Choreo LLC grew its position in Entergy by 12.3% during the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock worth $816,000 after purchasing an additional 1,042 shares during the last quarter. First American Trust FSB acquired a new stake in shares of Entergy during the first quarter worth $3,896,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Entergy during the first quarter valued at $32,658,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Entergy by 26.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider's stock valued at $8,219,000 after acquiring an additional 19,862 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Entergy by 369.8% in the 1st quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider's stock valued at $7,352,000 after acquiring an additional 67,696 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Trading Down 0.2%

Shares of NYSE:ETR opened at $95.80 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 12-month low of $66.75 and a 12-month high of $98.58. The business has a 50 day moving average of $91.02 and a two-hundred day moving average of $86.10. The company has a market capitalization of $42.77 billion, a PE ratio of 23.86, a PEG ratio of 2.61 and a beta of 0.62.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 EPS for the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The business had revenue of $2.37 billion for the quarter. As a group, analysts forecast that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were given a $0.60 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Entergy's dividend payout ratio is 59.85%.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ETR. Evercore ISI set a $98.00 price target on Entergy and gave the stock an "in-line" rating in a research report on Monday, October 6th. JPMorgan Chase & Co. lifted their target price on Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. BMO Capital Markets reiterated an "outperform" rating and issued a $104.00 target price (up previously from $96.00) on shares of Entergy in a research report on Tuesday. Weiss Ratings reissued a "buy (b)" rating on shares of Entergy in a research report on Wednesday, October 8th. Finally, Morgan Stanley dropped their price objective on shares of Entergy from $86.00 to $85.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Entergy currently has a consensus rating of "Moderate Buy" and an average price target of $97.57.

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.

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