Hsbc Holdings PLC Acquires 150,272 Shares of Entergy Corporation $ETR

Key Points

• Hsbc Holdings PLC increased its stake in Entergy Corporation by 17.3% in Q1, now owning over 1 million shares valued at approximately $86.6 million.
• Entergy reported a Q2 EPS of $1.05, exceeding analysts' expectations of $0.91, with revenues totaling $3.02 billion.
• The company has announced a quarterly dividend of $0.60, to be paid on September 2nd, representing an annual yield of 2.7%.

Hsbc Holdings PLC grew its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 17.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,017,041 shares of the utilities provider's stock after purchasing an additional 150,272 shares during the quarter. Hsbc Holdings PLC owned about 0.24% of Entergy worth $86,639,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Entergy by 5.2% in the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock worth $4,687,331,000 after purchasing an additional 2,695,348 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Entergy by 142.8% during the fourth quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock valued at $1,334,034,000 after acquiring an additional 10,347,926 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after acquiring an additional 5,368,396 shares during the period. Royal Bank of Canada lifted its stake in shares of Entergy by 80.9% during the fourth quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock valued at $354,317,000 after acquiring an additional 2,089,169 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Entergy by 3.4% during the first quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock valued at $370,488,000 after acquiring an additional 143,187 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Activity

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on ETR. Raymond James Financial began coverage on Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. JPMorgan Chase & Co. upped their price target on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Mizuho set a $97.00 price target on Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. BMO Capital Markets upped their price target on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Barclays cut their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Entergy currently has an average rating of "Moderate Buy" and a consensus price target of $88.50.

Entergy Trading Down 0.2%

NYSE ETR traded down $0.20 on Tuesday, reaching $88.97. The company had a trading volume of 383,512 shares, compared to its average volume of 3,498,656. The stock's 50 day moving average is $85.96 and its 200-day moving average is $84.16. The stock has a market cap of $39.72 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.43 and a beta of 0.57. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 52 week low of $59.05 and a 52 week high of $92.40.

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

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, August 13th. Entergy's dividend payout ratio is 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.