Clough Capital Partners L P Sells 73,283 Shares of Entergy Corporation $ETR

Key Points

• Clough Capital Partners L P significantly reduced its stake in Entergy Corporation by 85.7%, owning only 12,252 shares after selling 73,283 shares during the first quarter.
• Entergy reported earnings per share of $1.05 for the last quarter, exceeding expectations, but its revenue of $3.02 billion fell short of the consensus estimate.
• The company declared a quarterly dividend of $0.60 per share, representing a dividend yield of 2.7%, with a payout scheduled for September 2nd.

Clough Capital Partners L P lessened its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 85.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,252 shares of the utilities provider's stock after selling 73,283 shares during the period. Clough Capital Partners L P's holdings in Entergy were worth $1,047,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Entergy in the first quarter valued at approximately $28,000. Grove Bank & Trust raised its stake 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 acquiring an additional 230 shares in the last quarter. Glen Eagle Advisors LLC raised its stake 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 acquiring an additional 180 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Entergy in the first quarter worth $32,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of Entergy in the fourth quarter worth $30,000. Institutional investors own 88.07% of the company's stock.

Entergy Price Performance

Shares of ETR stock traded down $0.73 on Tuesday, reaching $87.37. The company's stock had a trading volume of 1,724,806 shares, compared to its average volume of 3,495,897. The stock's fifty day simple moving average is $86.70 and its 200-day simple moving average is $84.37. Entergy Corporation has a 1 year low of $60.00 and a 1 year high of $92.40. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $39.00 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 2.40 and a beta of 0.61.

Entergy (NYSE:ETR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share 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 firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the firm posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on ETR. 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. KeyCorp reiterated an "overweight" rating and issued a $96.00 price target (up previously from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Mizuho set a $97.00 target price on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Morgan Stanley set a $86.00 price target on shares of Entergy and gave the company an "outperform" rating in a research report on Thursday, August 21st. Finally, Raymond James Financial assumed coverage on shares of Entergy in a research report on Friday, June 13th. They set a "market perform" rating for the company. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.50.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of Entergy 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by insiders.

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.