Entergy Corporation (NYSE:ETR) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has sold 24.7% of its holdings in Entergy Corporation, resulting in ownership of 2,558,717 shares valued at approximately $218.7 million.
• Analysts have mixed views on Entergy, with price targets ranging from $81 to $102 and a consensus rating of "Moderate Buy."
• Entergy recently announced a quarterly dividend of $0.60 per share, indicating a 2.77% dividend yield and a payout ratio of 77.92%.

Federated Hermes Inc. cut its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 24.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,558,717 shares of the utilities provider's stock after selling 840,464 shares during the quarter. Federated Hermes Inc. owned 0.59% of Entergy worth $218,745,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Glen Eagle Advisors LLC boosted its stake in shares of Entergy by 100.0% in the fourth 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Entergy in the first quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc purchased a new stake in shares of Entergy in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Entergy in the fourth quarter valued at approximately $30,000. Finally, Grove Bank & Trust boosted its position in Entergy by 188.5% during the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock worth $30,000 after purchasing an additional 230 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Stock Down 0.7%

NYSE ETR traded down $0.66 on Friday, hitting $89.77. 1,657,711 shares of the stock traded hands, compared to its average volume of 3,631,395. The stock has a 50-day moving average of $83.41 and a 200 day moving average of $83.09. Entergy Corporation has a twelve month low of $57.58 and a twelve month high of $91.46. The company has a market capitalization of $38.67 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 2.43 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.55 and a debt-to-equity ratio of 1.73.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%. During the same period in the prior year, the firm earned $1.92 EPS. As a group, analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently announced 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 dividend payout ratio (DPR) is currently 59.85%.

Analysts Set New Price Targets

A number of analysts have commented on ETR shares. JPMorgan Chase & Co. boosted their target price on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Morgan Stanley decreased their target price on Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. KeyCorp reiterated an "overweight" rating and set a $96.00 target price (up from $88.00) on shares of Entergy in a research report on Thursday. Mizuho set a $97.00 price target on Entergy and gave the stock an "outperform" rating in a report on Thursday. Finally, Raymond James Financial assumed coverage on Entergy in a report on Friday, June 13th. They issued a "market perform" rating for the company. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.07.

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.