Entergy Corporation $ETR Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP reduced its holdings in Entergy Corporation by 20.4%, owning 331,980 shares after selling 85,092 shares in the first quarter.
• Several institutional investors have been active, including Aptus Capital Advisors, which increased its holdings in Entergy by 33.2%, highlighting ongoing investor interest in the company.
• Entergy announced a quarterly dividend of $0.60 per share, representing an annualized dividend yield of 2.7% and a payout ratio of 59.85%.

Korea Investment CORP cut its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 20.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 331,980 shares of the utilities provider's stock after selling 85,092 shares during the period. Korea Investment CORP owned 0.08% of Entergy worth $28,381,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Glen Eagle Advisors LLC lifted its stake in Entergy by 100.0% during the 4th 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. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Entergy in the first quarter valued at $28,000. Fourth Dimension Wealth LLC acquired a new stake in Entergy in the 4th quarter valued at about $30,000. Grove Bank & Trust raised its position in Entergy by 188.5% in 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 in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Entergy in the 1st quarter valued at about $32,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Performance

Shares of Entergy stock traded up $0.0090 during 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 company has a 50-day moving average price of $85.81 and a two-hundred day moving average price of $84.09. The firm has a market cap 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 fifty-two week low of $59.05 and a fifty-two week 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.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data 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 company 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 period in the previous year, the business posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, analysts forecast that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The business 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 $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, August 13th. Entergy's payout ratio is 59.85%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ETR. Raymond James Financial started coverage on Entergy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. Mizuho set a $97.00 price objective on shares of Entergy and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays reduced their price objective 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 restated an "overweight" rating and issued a $96.00 price target (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Finally, Morgan Stanley cut their price target on Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Entergy currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.14.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. 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.