Godsey & Gibb Inc. Decreases Stock Position in Entergy Corporation $ETR

Key Points

• Godsey & Gibb Inc. decreased its stake in Entergy Corporation by 2.1%, owning approximately 339,698 shares after selling 7,270 shares during the second quarter.
• Entergy reported earnings of $1.05 per share for the last quarter, exceeding expectations, despite a revenue of $3.02 billion which was below analysts' estimates.
• The company declared a quarterly dividend of $0.60 per share, resulting in an annualized yield of 2.5% with a payout ratio of 59.85%.

Godsey & Gibb Inc. reduced its position in Entergy Corporation (NYSE:ETR - Free Report) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 339,698 shares of the utilities provider's stock after selling 7,270 shares during the quarter. Entergy accounts for about 2.6% of Godsey & Gibb Inc.'s holdings, making the stock its 10th largest holding. Godsey & Gibb Inc. owned approximately 0.08% of Entergy worth $28,236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ETR. Mattson Financial Services LLC lifted its position 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 period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Entergy during the 1st quarter valued at approximately $28,000. Atwood & Palmer Inc. lifted its holdings in 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 in the last quarter. Grove Bank & Trust raised its position in shares of Entergy by 188.5% during the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after buying an additional 230 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in Entergy during the first quarter valued at $32,000. Institutional investors own 88.07% of the company's stock.

Entergy Stock Performance

Shares of ETR stock opened at $97.46 on Tuesday. Entergy Corporation has a 12 month low of $64.38 and a 12 month high of $98.58. The company has a market cap of $43.51 billion, a P/E ratio of 24.27, a PEG ratio of 2.60 and a beta of 0.62. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The firm has a fifty day moving average price of $89.94 and a 200 day moving average price of $85.38.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the prior 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 predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's dividend payout ratio is presently 59.85%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ETR. Raymond James Financial initiated coverage on Entergy in a report on Friday, June 13th. They issued a "market perform" rating for the company. Mizuho set a $97.00 price objective on shares of Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. upped 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. Jefferies Financial Group started coverage on Entergy in a research note on Thursday, September 4th. They issued a "buy" rating and a $109.00 target price on the stock. Finally, Barclays set a $100.00 price objective on shares of Entergy and gave the stock an "overweight" rating in a research note on Monday. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the business'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 transaction, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.39% of the stock is currently owned by insiders.

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.

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.