Gabelli Funds LLC Lowers Holdings in Entergy Corporation $ETR

Key Points

• Gabelli Funds LLC reduced its stake in Entergy Corporation by 9.7%, now holding 28,550 shares valued at approximately $2.44 million.
• Entergy's quarterly earnings exceeded expectations, with an EPS of $1.05, surpassing the consensus estimate of $0.91.
• The company announced a quarterly dividend of $0.60 per share, with a scheduled pay date of September 2nd.

Gabelli Funds LLC reduced its position in Entergy Corporation (NYSE:ETR - Free Report) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,550 shares of the utilities provider's stock after selling 3,050 shares during the quarter. Gabelli Funds LLC's holdings in Entergy were worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Entergy during the 1st quarter valued at $28,000. Grove Bank & Trust grew its position in shares of 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. Glen Eagle Advisors LLC boosted its stake in Entergy by 100.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares during the period. Wayfinding Financial LLC bought a new position in shares of Entergy during the first quarter worth $32,000. Finally, Fourth Dimension Wealth LLC purchased a new position in Entergy during the fourth quarter valued at $30,000. 88.07% of the stock is currently owned by institutional investors.

Entergy Trading Down 0.4%

Shares of ETR traded down $0.36 during mid-day trading on Wednesday, reaching $87.05. 808,056 shares of the company's stock traded hands, compared to its average volume of 3,479,363. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The stock's 50-day moving average is $86.79 and its two-hundred day moving average is $84.39. Entergy Corporation has a 12 month low of $60.00 and a 12 month high of $92.40. The stock has a market cap of $38.86 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.40 and a beta of 0.61.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating 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 business earned $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Research analysts forecast 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. Stockholders of record on Wednesday, August 13th were issued a $0.60 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.8%. Entergy's dividend payout ratio is presently 59.85%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ETR shares. Barclays dropped their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Morgan Stanley set a $86.00 price target on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday, August 21st. Raymond James Financial initiated coverage on shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. JPMorgan Chase & Co. increased their price target on shares of Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Finally, Mizuho set a $97.00 price target on Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $88.50.

Insider Buying and Selling

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction dated 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 owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.39% of the stock is owned by corporate insiders.

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.