Cresset Asset Management LLC Cuts Holdings in Entergy Corporation $ETR

Key Points

• Cresset Asset Management LLC reduced its stake in Entergy Corporation (ETR) by 50.6%, owning now 7,857 shares valued at approximately $672,000.
• Vanguard Group Inc. increased its holdings in Entergy by 5.2% during the first quarter, now owning over 54 million shares, valued at around $4.7 billion.
• Analysts have revised their price targets for Entergy, with *Morgan Stanley* lowering it to $81 while *JPMorgan Chase* increased its target to $103, indicating a mixed sentiment about the stock's performance.

Cresset Asset Management LLC lessened its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 50.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,857 shares of the utilities provider's stock after selling 8,036 shares during the period. Cresset Asset Management LLC's holdings in Entergy were worth $672,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Acropolis Investment Management LLC increased its stake in Entergy by 0.7% in the 1st quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock worth $1,535,000 after buying an additional 129 shares in the last quarter. Gen Wealth Partners Inc increased its stake in Entergy by 27.5% in the 4th quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider's stock worth $51,000 after buying an additional 144 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of Entergy by 18.6% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock valued at $90,000 after purchasing an additional 165 shares in the last quarter. Horizon Investments LLC grew its position in shares of Entergy by 1.8% during the first quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider's stock valued at $854,000 after purchasing an additional 176 shares in the last quarter. Finally, Glen Eagle Advisors LLC grew its position 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 valued at $27,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Trading Down 0.1%

Shares of NYSE:ETR traded down $0.13 during trading on Wednesday, reaching $89.47. The company's stock had a trading volume of 851,371 shares, compared to its average volume of 3,500,891. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 12 month low of $59.05 and a 12 month high of $92.40. The firm's 50 day simple moving average is $86.13 and its two-hundred day simple moving average is $84.20. The stock has a market capitalization of $39.94 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57.

Entergy (NYSE:ETR - Get Free Report) last announced 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. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter last year, the firm earned $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, research analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's payout ratio is currently 59.85%.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ETR. Mizuho set a $97.00 price objective on Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. KeyCorp restated an "overweight" rating and set a $96.00 price objective (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Morgan Stanley set a $86.00 price objective on Entergy and gave the company an "outperform" rating in a research report on Thursday, August 21st. Barclays cut their price objective on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their price objective on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.50.

About Entergy

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.