Assenagon Asset Management S.A. Decreases Stock Holdings in Entergy Corporation $ETR

Key Points

• Assenagon Asset Management S.A. drastically reduced its holdings in Entergy Corporation by 99.5%, selling 797,510 shares during the second quarter, leaving them with just 3,622 shares valued at $301,000.
• Despite the sell-off by Assenagon, other hedge funds have been increasing their investments in Entergy, with notable increases in holdings by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Empowered Funds LLC.
• Entergy's stock is currently rated a "Moderate Buy" with a consensus target price of $89.80, reflecting positive outlooks from several analysts despite a recent earnings report that slightly missed revenue expectations.

Assenagon Asset Management S.A. decreased its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 99.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,622 shares of the utilities provider's stock after selling 797,510 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Entergy were worth $301,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Choreo LLC raised its stake in Entergy by 12.3% during the first quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock valued at $816,000 after purchasing an additional 1,042 shares in the last quarter. First American Trust FSB bought a new position in Entergy during the first quarter valued at $3,896,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Entergy by 26.0% during the first 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 last quarter. Empowered Funds LLC increased its position in Entergy by 369.8% during the first 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 last quarter. Finally, J.W. Cole Advisors Inc. bought a new position in Entergy during the first quarter valued at $1,073,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analyst Ratings Changes

ETR has been the topic of a number of analyst reports. Raymond James Financial initiated coverage on shares of Entergy in a research report on Friday, June 13th. They set a "market perform" rating on the stock. Mizuho set a $97.00 price objective on shares of Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. Barclays cut their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Morgan Stanley cut their price objective on shares of Entergy from $86.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, KeyCorp restated an "overweight" rating and issued a $96.00 price target (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.80.

Entergy Stock Up 2.1%

NYSE:ETR opened at $92.22 on Monday. Entergy Corporation has a fifty-two week low of $64.38 and a fifty-two week high of $92.40. The stock has a market capitalization of $41.17 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.51 and a beta of 0.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. The company's 50-day simple moving average is $89.14 and its 200-day simple moving average is $84.97.

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

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is presently 59.85%.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the 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 transaction, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. This trade represents a 57.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by insiders.

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.

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