Hennessy Advisors Inc. Decreases Position in Entergy Corporation $ETR

Key Points

• Hennessy Advisors Inc. significantly decreased its position in Entergy Corporation by 90.8% during the second quarter, leaving it with only 620 shares valued at approximately $52,000.
• Entergy reported $1.05 earnings per share for the last quarter, exceeding the consensus estimate of $0.91, while also announcing a quarterly dividend of $0.60 per share with a 2.5% yield.
• The stock has a current market capitalization of $42.59 billion and a consensus rating of "Moderate Buy" among analysts, with an average price target of $91.33.

Hennessy Advisors Inc. cut its position in Entergy Corporation (NYSE:ETR - Free Report) by 90.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 620 shares of the utilities provider's stock after selling 6,100 shares during the period. Hennessy Advisors Inc.'s holdings in Entergy were worth $52,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mattson Financial Services LLC raised its holdings in Entergy by 100.0% in the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock worth $26,000 after buying an additional 150 shares during the last quarter. Atwood & Palmer Inc. raised its holdings in Entergy by 135.7% in the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider's stock worth $27,000 after buying an additional 190 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Entergy in the first quarter worth about $28,000. Grove Bank & Trust raised its holdings in Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock worth $30,000 after buying an additional 230 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Entergy in the first quarter worth about $32,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Performance

Shares of NYSE ETR opened at $95.41 on Monday. The firm has a 50 day moving average of $89.72 and a 200 day moving average of $85.29. 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 market capitalization of $42.59 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 2.60 and a beta of 0.62. Entergy Corporation has a 12-month low of $64.38 and a 12-month high of $96.61.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.14. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same period in the previous year, the business posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

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

Insiders Place Their Bets

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of Entergy 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 owned 3,318 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on ETR shares. Mizuho set a $97.00 price target on shares of Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Entergy in a research note on Thursday, September 4th. They issued a "buy" rating and a $109.00 price target for the company. Raymond James Financial started coverage on shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. Morgan Stanley reduced their price target on shares of Entergy from $86.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, September 25th. Finally, Barclays reduced 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. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Entergy has a consensus rating of "Moderate Buy" and an average target price of $91.33.

About Entergy

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.

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