Canada Pension Plan Investment Board Sells 345,056 Shares of Entergy Corporation $ETR

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Entergy Corporation by 44.0%, selling 345,056 shares, leaving it with approximately 438,429 shares valued at around $37.5 million.
• Insider Haley Fisackerly sold 4,463 shares of Entergy for a total of $403,901.50, resulting in a 57.36% decrease in their ownership position.
• Entergy has recently announced a quarterly dividend of $0.60, with a yield of 2.7%, and analysts predict earnings per share for the company to be around 3.88 for the current year.

Canada Pension Plan Investment Board reduced its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 44.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 438,429 shares of the utilities provider's stock after selling 345,056 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.10% of Entergy worth $37,481,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Glen Eagle Advisors LLC boosted its holdings in shares of Entergy by 100.0% during the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Entergy during the first quarter worth approximately $28,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Entergy during the fourth quarter worth approximately $30,000. Grove Bank & Trust boosted its holdings in shares of Entergy by 188.5% during the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock worth $30,000 after purchasing an additional 230 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Entergy during the first quarter worth approximately $32,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider owned 3,318 shares of the company's stock, valued at approximately $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ETR. JPMorgan Chase & Co. lifted their target price on shares of Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. KeyCorp reiterated an "overweight" rating and issued a $96.00 target price (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Barclays reduced their target price on shares of 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 shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. Finally, Morgan Stanley set a $86.00 target price on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday, August 21st. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $88.50.

Entergy Stock Performance

Shares of NYSE:ETR traded down $0.26 during trading on Wednesday, reaching $87.15. The stock had a trading volume of 1,545,410 shares, compared to its average volume of 2,372,229. Entergy Corporation has a 52 week low of $60.00 and a 52 week high of $92.40. The firm has a market capitalization of $38.90 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.40 and a beta of 0.61. 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 fifty day simple moving average of $86.91 and a two-hundred day simple moving average of $84.41.

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

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 2.8%. Entergy's payout ratio is 59.85%.

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.