Entergy Corporation $ETR Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 20.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,644 shares of the utilities provider's stock after selling 3,577 shares during the quarter. Exchange Traded Concepts LLC's holdings in Entergy were worth $1,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Choreo LLC increased its stake in shares of Entergy by 12.3% in the first quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock worth $816,000 after acquiring an additional 1,042 shares during the period. First American Trust FSB acquired a new stake in shares of Entergy in the first quarter worth $3,896,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Entergy by 26.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,142 shares of the utilities provider's stock worth $8,219,000 after acquiring an additional 19,862 shares during the period. Empowered Funds LLC increased its stake in shares of Entergy by 369.8% in the first quarter. Empowered Funds LLC now owns 86,001 shares of the utilities provider's stock worth $7,352,000 after acquiring an additional 67,696 shares during the period. Finally, J.W. Cole Advisors Inc. purchased a new stake in Entergy during the first quarter worth $1,073,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Transactions at Entergy

In related 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 value of $403,901.50. Following the completion of the transaction, the insider owned 3,318 shares in the company, valued at $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Entergy Stock Up 0.7%

Shares of Entergy stock opened at $89.27 on Tuesday. Entergy Corporation has a 52-week low of $64.38 and a 52-week high of $92.40. The company has a 50 day moving average of $88.59 and a 200 day moving average of $84.71. 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 company has a market capitalization of $39.85 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.41 and a beta of 0.61.

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

Entergy Announces Dividend

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

Analyst Ratings Changes

ETR has been the topic of a number of recent analyst reports. KeyCorp reissued an "overweight" rating and set a $96.00 price target (up from $88.00) on shares of Entergy in a 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. Jefferies Financial Group initiated coverage on shares of Entergy in a report on Thursday, September 4th. They set a "buy" rating and a $109.00 price target on the stock. Barclays lowered 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. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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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