Ausbil Investment Management Ltd Trims Stock Holdings in Entergy Corporation $ETR

Key Points

• Ausbil Investment Management Ltd has reduced its stake in Entergy Corporation by 23.9% during Q2, now holding 62,467 shares, valued at approximately $5.19 million.
• Entergy reported an earnings per share (EPS) of $1.05, surpassing analysts' expectations of $0.91, despite revenue falling short at $3.02 billion against a forecast of $3.11 billion.
• The company announced a quarterly dividend of $0.60 per share, resulting in an annualized rate of $2.40 and a yield of 2.6%.

Ausbil Investment Management Ltd cut its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 23.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,467 shares of the utilities provider's stock after selling 19,575 shares during the quarter. Entergy comprises approximately 3.0% of Ausbil Investment Management Ltd's portfolio, making the stock its 14th biggest position. Ausbil Investment Management Ltd's holdings in Entergy were worth $5,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mattson Financial Services LLC boosted its position in shares of Entergy by 100.0% during the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock valued at $26,000 after buying an additional 150 shares during the last quarter. Atwood & Palmer Inc. boosted its position in Entergy by 135.7% in the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider's stock worth $27,000 after purchasing an additional 190 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Entergy in the first quarter worth about $28,000. Grove Bank & Trust raised its stake in shares of Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock worth $30,000 after buying an additional 230 shares during the period. Finally, Wayfinding Financial LLC bought a new position in shares of Entergy in the first quarter worth about $32,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Price Performance

ETR opened at $92.22 on Friday. The business has a fifty day moving average of $89.14 and a 200 day moving average of $84.95. Entergy Corporation has a 52-week low of $64.38 and a 52-week high of $92.40. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The stock has a market cap of $41.17 billion, a P/E ratio of 22.97, a PEG ratio of 2.51 and a beta of 0.61.

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

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. Entergy's payout ratio is 59.85%.

Analyst Ratings Changes

Several analysts recently issued reports on ETR shares. Raymond James Financial started coverage on Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. Mizuho set a $97.00 price objective on Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Morgan Stanley reduced their price objective on Entergy from $86.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday. Jefferies Financial Group began coverage on Entergy in a research note on Thursday, September 4th. They issued a "buy" rating and a $109.00 price objective on the stock. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $96.00 price objective (up previously from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.80.

Insiders Place Their Bets

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the sale, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. The trade was a 57.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is currently owned by company insiders.

Entergy Company 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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