Entergy Corporation $ETR Shares Sold by HITE Hedge Asset Management LLC

Key Points

• HITE Hedge Asset Management LLC reduced its stake in Entergy Corporation by 17.1%, now holding approximately 429,434 shares valued at around $36.7 million.
• Entergy recently reported an EPS of $1.05 for the last quarter, outperforming estimates, but its revenue fell short of expectations at $3.02 billion.
• The company announced a quarterly dividend of $0.60 per share, reflecting an annualized dividend of $2.40 and a yield of 2.7%.

HITE Hedge Asset Management LLC lowered its stake in Entergy Corporation (NYSE:ETR - Free Report) by 17.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 429,434 shares of the utilities provider's stock after selling 88,797 shares during the quarter. Entergy accounts for 2.3% of HITE Hedge Asset Management LLC's portfolio, making the stock its 14th largest position. HITE Hedge Asset Management LLC owned about 0.10% of Entergy worth $36,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Glen Eagle Advisors LLC raised its position in shares of Entergy by 100.0% during the 4th 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 during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Entergy in the 1st quarter worth about $28,000. Fourth Dimension Wealth LLC bought a new position in Entergy during the 4th quarter valued at about $30,000. Grove Bank & Trust grew its holdings in Entergy by 188.5% during the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 230 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in Entergy during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ETR. KeyCorp reaffirmed an "overweight" rating and issued a $96.00 price target (up previously from $88.00) on shares of Entergy in a research report 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 report on Thursday, July 31st. Morgan Stanley decreased their target price on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. 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 research note on Thursday, July 10th. Finally, Raymond James Financial began coverage on shares of Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.14.

Entergy Stock Performance

Shares of NYSE:ETR traded up $0.0090 during midday trading on Friday, reaching $89.2290. The company's stock had a trading volume of 2,029,222 shares, compared to its average volume of 2,715,099. The firm has a market capitalization of $39.83 billion, a PE ratio of 22.22, a P/E/G ratio of 2.43 and a beta of 0.57. Entergy Corporation has a twelve month low of $59.05 and a twelve month high of $92.40. The stock has a fifty day moving average of $85.81 and a 200 day moving average of $84.09. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter in the prior year, the business earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, equities analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

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

Insider Buying and Selling

In related news, insider Haley Fisackerly sold 4,463 shares of the firm's 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 sale, the insider owned 3,318 shares in the company, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company's stock.

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.