Assenagon Asset Management S.A. Sells 224,373 Shares of Entergy Corporation $ETR

Key Points

• Assenagon Asset Management cut its Entergy stake by 85.4% in Q1, selling 224,373 shares and leaving it with 38,319 shares valued at about $4.3 million.
• Entergy’s stock was trading around $116.20, near its 52-week high, after reporting stronger-than-expected quarterly results with EPS of $0.86 and revenue of $3.19 billion.
• Analysts remain broadly positive on the utility, with 17 Buy ratings and a consensus price target of $119.68; Entergy also pays a quarterly dividend of $0.64 per share, yielding about 2.2%.

Assenagon Asset Management S.A. lowered its stake in Entergy Corporation (NYSE:ETR - Free Report) by 85.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,319 shares of the utilities provider's stock after selling 224,373 shares during the period. Assenagon Asset Management S.A.'s holdings in Entergy were worth $4,306,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Entergy by 54.9% in the fourth quarter. JPMorgan Chase & Co. now owns 22,694,994 shares of the utilities provider's stock worth $2,097,699,000 after purchasing an additional 8,046,287 shares during the period. Norges Bank acquired a new stake in Entergy during the 4th quarter worth $528,313,000. Morgan Stanley raised its position in shares of Entergy by 22.9% during the 4th quarter. Morgan Stanley now owns 10,651,436 shares of the utilities provider's stock valued at $984,512,000 after acquiring an additional 1,986,369 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of Entergy by 89.6% during the 4th quarter. Raymond James Financial Inc. now owns 3,866,426 shares of the utilities provider's stock valued at $357,415,000 after acquiring an additional 1,826,782 shares during the last quarter. Finally, Zimmer Partners LP acquired a new position in shares of Entergy in the 4th quarter valued at $153,616,000. Institutional investors own 88.07% of the company's stock.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 10,638 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total value of $1,170,180.00. Following the completion of the transaction, the insider owned 14,182 shares in the company, valued at $1,560,020. This trade represents a 42.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group reiterated a "buy" rating and issued a $135.00 target price (up from $131.00) on shares of Entergy in a report on Thursday, April 30th. Barclays decreased their price target on shares of Entergy from $124.00 to $119.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. BMO Capital Markets set a $123.00 price objective on Entergy in a research note on Wednesday, June 10th. Wells Fargo & Company lifted their target price on Entergy from $123.00 to $128.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, KeyCorp reissued an "overweight" rating and issued a $123.00 target price (up from $118.00) on shares of Entergy in a research note on Tuesday, April 21st. Seventeen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $119.68.

Entergy Stock Up 0.2%

NYSE:ETR opened at $116.20 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.73 and a current ratio of 0.96. The company has a market cap of $53.21 billion, a PE ratio of 29.64, a PEG ratio of 1.98 and a beta of 0.50. Entergy Corporation has a 52-week low of $80.11 and a 52-week high of $118.44. The stock has a 50-day simple moving average of $111.98 and a 200 day simple moving average of $104.89.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Wednesday, April 29th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The firm had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $2.89 billion. Entergy had a return on equity of 10.75% and a net margin of 13.48%.During the same quarter in the previous year, the business posted $0.82 EPS. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. On average, sell-side analysts expect that Entergy Corporation will post 4.4 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 1st were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.56 annualized dividend and a yield of 2.2%. Entergy's payout ratio is 65.31%.

Entergy Profile

Entergy Corporation NYSE: ETR is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company's operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy's generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.

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