Confluence Investment Management LLC Sells 15,339 Shares of Entergy Corporation $ETR

Key Points

• Confluence Investment Management LLC reduced its stake in Entergy Corporation by 1.1%, owning 1,375,000 shares after selling 15,339 shares during the second quarter.
• Entergy reported earnings of $1.05 per share for the last quarter, beating estimates of $0.91, though revenue was $3.02 billion, below expectations of $3.11 billion.
• Entergy has a current dividend yield of 2.7%, with a quarterly dividend of $0.60 per share recently distributed to shareholders.

Confluence Investment Management LLC lowered its stake in Entergy Corporation (NYSE:ETR - Free Report) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,375,000 shares of the utilities provider's stock after selling 15,339 shares during the quarter. Entergy makes up approximately 1.6% of Confluence Investment Management LLC's investment portfolio, making the stock its 23rd largest position. Confluence Investment Management LLC owned 0.32% of Entergy worth $114,290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Entergy by 5.2% in the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock valued at $4,687,331,000 after buying an additional 2,695,348 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Entergy by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider's stock valued at $1,126,244,000 after buying an additional 289,468 shares during the period. Royal Bank of Canada increased its stake in shares of Entergy by 80.9% in the fourth quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock valued at $354,317,000 after buying an additional 2,089,169 shares during the period. Northern Trust Corp increased its stake in shares of Entergy by 3.4% in the first quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock valued at $370,488,000 after buying an additional 143,187 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Entergy by 15.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,326,466 shares of the utilities provider's stock valued at $284,380,000 after buying an additional 454,059 shares during the period. Institutional investors own 88.07% of the company's stock.

Entergy Stock Performance

Shares of ETR stock opened at $90.32 on Friday. The company has a market cap of $40.32 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 2.44 and a beta of 0.61. Entergy Corporation has a 52 week low of $62.31 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 firm has a 50 day moving average of $87.76 and a 200-day moving average of $84.55.

Entergy (NYSE:ETR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $3.11 billion. 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 forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, August 13th. This represents a $2.40 annualized dividend and a yield of 2.7%. Entergy's dividend payout ratio (DPR) is 59.85%.

Insiders Place Their Bets

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the firm's 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 transaction, the insider directly owned 3,318 shares in the company, valued at approximately $300,279. This trade represents a 57.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Entergy in a research note on Thursday, September 4th. They issued a "buy" rating and a $109.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Mizuho set a $97.00 price objective on Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Barclays decreased their target price on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Finally, Raymond James Financial initiated coverage on shares of Entergy in a research report on Friday, June 13th. They set a "market perform" rating for the company. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $89.87.

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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