Entergy Corporation $ETR Shares Sold by Patton Fund Management Inc.

Key Points

• Patton Fund Management Inc. reduced its holdings in Entergy Corporation (ETR) by 44.1%, selling 29,181 shares and leaving them with 37,004 shares, valued at approximately $3.08 million.
• Entergy reported a Q2 EPS of $1.05, exceeding analysts' estimates of $0.91, despite revenue falling short of expectations at $3.02 billion.
• The company declared a quarterly dividend of $0.60 per share, translating to an annualized dividend yield of 2.6% and a payout ratio of 59.85%.

Patton Fund Management Inc. lowered its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 44.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,004 shares of the utilities provider's stock after selling 29,181 shares during the period. Patton Fund Management Inc.'s holdings in Entergy were worth $3,076,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ETR. Mattson Financial Services LLC grew its stake in shares of Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Atwood & Palmer Inc. grew its stake in shares of Entergy by 135.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider's stock worth $27,000 after purchasing an additional 190 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Entergy in the 1st quarter worth approximately $28,000. Grove Bank & Trust grew its stake in shares of Entergy by 188.5% in the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock worth $30,000 after purchasing an additional 230 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Entergy in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Entergy Stock Performance

ETR stock opened at $92.22 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. The stock has a market cap of $41.17 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.46 and a beta of 0.61. The firm has a 50 day simple moving average of $89.14 and a 200 day simple moving average of $84.94. Entergy Corporation has a 52 week low of $64.38 and a 52 week high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly 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 business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same period last year, the company posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, August 13th. Entergy's dividend payout ratio (DPR) is currently 59.85%.

Analysts Set New Price Targets

ETR has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Entergy in a research note on Thursday, September 4th. They issued a "buy" rating and a $109.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Entergy from $86.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Thursday. Raymond James Financial initiated coverage on shares of Entergy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. KeyCorp reissued an "overweight" rating and issued a $96.00 target price (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Finally, Mizuho set a $97.00 target price on shares of Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Entergy has an average rating of "Moderate Buy" and an average target price of $89.80.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the firm's 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 directly 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 document filed with the SEC, which can be accessed through the SEC website. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.