Fulton Bank N.A. Has $465,000 Position in Entergy Corporation $ETR

Key Points

• Fulton Bank N.A. reduced its stake in Entergy Corporation by 69.9%, selling 12,997 shares, leaving it with a $465,000 investment.
• Institutional investors own 88.07% of Entergy's stock, with several firms like Mattson Financial Services and Atwood & Palmer significantly increasing their holdings recently.
• Entergy's earnings report indicated a 1.05 EPS for the last quarter, surpassing estimates, while it also announced a quarterly dividend of $0.60 per share.

Fulton Bank N.A. reduced its stake in Entergy Corporation (NYSE:ETR - Free Report) by 69.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,599 shares of the utilities provider's stock after selling 12,997 shares during the period. Fulton Bank N.A.'s holdings in Entergy were worth $465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETR. Mattson Financial Services LLC lifted its holdings in Entergy by 100.0% during the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock worth $26,000 after acquiring an additional 150 shares in the last quarter. Atwood & Palmer Inc. lifted its holdings in shares of Entergy by 135.7% in the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Entergy in the first quarter valued at about $28,000. Fourth Dimension Wealth LLC bought a new stake in shares of Entergy in the fourth quarter valued at about $30,000. Finally, Grove Bank & Trust lifted its holdings in shares of Entergy by 188.5% in the first 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. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ETR. Mizuho set a $97.00 price target on Entergy and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays cut their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Morgan Stanley set a $86.00 target price on Entergy and gave the company an "outperform" rating in a research report on Thursday, August 21st. KeyCorp reaffirmed an "overweight" rating and issued a $96.00 target price (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Finally, Raymond James Financial started coverage on Entergy in a research report on Friday, June 13th. They issued a "market perform" rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.87.

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 transaction of $403,901.50. Following the completion of the sale, the insider owned 3,318 shares in the company, valued at $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Entergy Stock Performance

NYSE ETR traded up $0.57 during trading on Tuesday, reaching $89.81. 307,219 shares of the company's stock were exchanged, compared to its average volume of 3,406,601. Entergy Corporation has a fifty-two week low of $64.38 and a fifty-two week high of $92.40. The stock has a market capitalization of $40.09 billion, a P/E ratio of 22.38, a PEG ratio of 2.41 and a beta of 0.61. The business has a 50 day moving average price of $88.59 and a 200-day moving average price of $84.71. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52.

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

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, August 13th. Entergy's payout ratio is currently 59.85%.

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.