Royal Bank of Canada Cuts Holdings in Entergy Corporation $ETR

Key Points

• Royal Bank of Canada reduced its stake in Entergy Corporation by 7.6%, now holding approximately 4.31 million shares valued at about $368.96 million as of the recent SEC filing.
• Analysts have mixed views on Entergy's stock, with Barclays lowering their price target to $87.00, while JPMorgan Chase increased it to $103.00, resulting in an overall average price target of $88.50.
• Entergy announced a quarterly dividend of $0.60, reflecting an annualized yield of 2.7%, with a dividend payout ratio of 59.85%.

Royal Bank of Canada lowered its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,315,840 shares of the utilities provider's stock after selling 357,299 shares during the quarter. Royal Bank of Canada owned 1.00% of Entergy worth $368,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Acropolis Investment Management LLC raised its holdings in shares of Entergy by 0.7% in the 1st quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock valued at $1,535,000 after buying an additional 129 shares during the period. Gen Wealth Partners Inc raised its holdings in shares of Entergy by 27.5% in the 4th quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider's stock valued at $51,000 after buying an additional 144 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Entergy by 18.6% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock valued at $90,000 after buying an additional 165 shares during the period. Horizon Investments LLC raised its holdings in shares of Entergy by 1.8% in the 1st quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider's stock valued at $854,000 after buying an additional 176 shares during the period. Finally, Glen Eagle Advisors LLC raised its holdings in shares of Entergy by 100.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.

Insider Transactions 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 stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

Entergy Stock Performance

Shares of ETR stock traded up $0.99 during mid-day trading on Thursday, hitting $88.19. 3,450,707 shares of the stock were exchanged, compared to its average volume of 3,484,548. The stock has a market capitalization of $39.37 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.40 and a beta of 0.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. Entergy Corporation has a 12-month low of $60.00 and a 12-month high of $92.40. The stock's fifty day simple moving average is $86.91 and its two-hundred day simple moving average is $84.41.

Entergy (NYSE:ETR - Get Free Report) last released 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. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%.During the same quarter last year, the business posted $1.92 EPS. 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 Dividend Announcement

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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.7%. 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 research analyst reports. JPMorgan Chase & Co. boosted their price objective on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. KeyCorp reissued an "overweight" rating and set a $96.00 price objective (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Jefferies Financial Group began coverage on shares of Entergy in a research note on Thursday. They set a "buy" rating and a $109.00 target price on the stock. Barclays decreased their price target on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Finally, Raymond James Financial assumed coverage on shares of Entergy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, 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.