Corebridge Financial Inc. Sells 3,009 Shares of Entergy Corporation $ETR

Key Points

• Corebridge Financial Inc. reduced its stake in Entergy Corporation by 3.0% during the first quarter, holding 98,511 shares valued at approximately $8.42 million.
• Entergy reported $1.05 EPS for the latest quarter, exceeding analysts' expectations of $0.91, with annual revenue around $3.02 billion.
• The company announced a quarterly dividend of $0.60 per share, resulting in an annualized yield of 2.7% and a payout ratio of 59.85%.

Corebridge Financial Inc. reduced its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,511 shares of the utilities provider's stock after selling 3,009 shares during the period. Corebridge Financial Inc.'s holdings in Entergy were worth $8,422,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Glen Eagle Advisors LLC grew its stake in shares of Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after buying an additional 180 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Entergy during the 1st quarter worth $28,000. Fourth Dimension Wealth LLC acquired a new position in shares of Entergy during the 4th quarter worth about $30,000. Grove Bank & Trust boosted its position in shares of Entergy by 188.5% during the 1st 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. Finally, Wayfinding Financial LLC purchased a new stake in shares of Entergy in the 1st quarter valued at about $32,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on ETR shares. 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. Morgan Stanley set a $86.00 target price on Entergy and gave the company an "outperform" rating in a report on Thursday, August 21st. Mizuho set a $97.00 price objective on Entergy and gave the stock an "outperform" rating in a report on Thursday, July 31st. Raymond James Financial initiated coverage on Entergy in a report on Friday, June 13th. They set a "market perform" rating on the stock. Finally, Barclays decreased their price objective on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $88.50.

Entergy Stock Performance

Shares of NYSE ETR traded down $0.02 during midday trading on Friday, hitting $88.11. 1,705,122 shares of the company's stock were exchanged, compared to its average volume of 2,547,718. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The stock's 50 day moving average price is $86.60 and its 200-day moving average price is $84.33. The firm has a market cap of $39.33 billion, a P/E ratio of 21.95, a PEG ratio of 2.40 and a beta of 0.61. Entergy Corporation has a twelve month low of $59.05 and a twelve month high of $92.40.

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

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.7%. Entergy's dividend payout ratio is currently 59.85%.

Insider Transactions at Entergy

In other 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 transaction of $403,901.50. Following the completion of the transaction, the insider owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

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.