DRW Securities LLC Sells 144,004 Shares of Entergy Corporation $ETR

Key Points

• DRW Securities LLC has significantly reduced its holdings in Entergy Corporation by 92.1%, now owning 12,366 shares valued at approximately $1.06 million.
• Several hedge funds have increased their positions in Entergy, with Bank of America Corp DE increasing its stake by 142.8% and TD Asset Management Inc rising by 964.8% in Q1.
• Entergy announced a quarterly dividend of $0.60, representing an annual yield of 2.7%, set to be paid on September 2nd to shareholders of record as of August 13th.

DRW Securities LLC reduced its stake in Entergy Corporation (NYSE:ETR - Free Report) by 92.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,366 shares of the utilities provider's stock after selling 144,004 shares during the quarter. DRW Securities LLC's holdings in Entergy were worth $1,057,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ETR. Bank of America Corp DE increased its holdings in shares of Entergy by 142.8% during the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after purchasing an additional 10,347,926 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after purchasing an additional 5,368,396 shares during the period. Millennium Management LLC increased its holdings in shares of Entergy by 474.0% during the fourth quarter. Millennium Management LLC now owns 3,876,985 shares of the utilities provider's stock worth $293,953,000 after purchasing an additional 3,201,530 shares during the period. TD Asset Management Inc increased its holdings in shares of Entergy by 964.8% during the first quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider's stock worth $261,232,000 after purchasing an additional 2,768,734 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Entergy by 5.2% during the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock worth $4,687,331,000 after purchasing an additional 2,695,348 shares during the period. 88.07% of the stock is owned by institutional investors.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

Entergy Stock Down 0.3%

ETR traded down $0.26 during midday trading on Wednesday, reaching $87.15. 1,545,410 shares of the company were exchanged, compared to its average volume of 2,372,229. 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 fifty day moving average price is $86.91 and its 200 day moving average price is $84.41. The company has a market cap of $38.90 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 2.40 and a beta of 0.61. Entergy Corporation has a one year low of $60.00 and a one year high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%.During the same period in the previous year, the company posted $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, analysts expect that Entergy Corporation will post 3.88 EPS 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 issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's payout ratio is currently 59.85%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Raymond James Financial started coverage on shares of Entergy in a report on Friday, June 13th. They set a "market perform" rating on the stock. KeyCorp restated an "overweight" rating and issued a $96.00 target price (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Morgan Stanley set a $86.00 price target on shares of Entergy and gave the stock an "outperform" rating in a report on Thursday, August 21st. Barclays cut their price target on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Finally, Mizuho set a $97.00 price target on shares of Entergy and gave the stock an "outperform" rating in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Entergy currently has an average rating of "Moderate Buy" and an average price target of $88.50.

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.