iA Global Asset Management Inc. Sells 68,060 Shares of Entergy Corporation $ETR

Key Points

• iA Global Asset Management cut its Entergy stake by 47.8% in the fourth quarter, selling 68,060 shares and ending with 74,400 shares valued at about $6.88 million.
• Entergy reported better-than-expected quarterly results, with EPS of $0.86 versus the $0.84 estimate and revenue of $3.19 billion versus $2.89 billion expected.
• The company declared a quarterly dividend of $0.64 per share payable on June 1, and analysts remain generally positive with a consensus rating of “Moderate Buy” and a target price of $119.21.

iA Global Asset Management Inc. trimmed its position in Entergy Corporation (NYSE:ETR - Free Report) by 47.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,400 shares of the utilities provider's stock after selling 68,060 shares during the quarter. iA Global Asset Management Inc.'s holdings in Entergy were worth $6,877,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ETR. M&T Bank Corp lifted its holdings in shares of Entergy by 5,132.9% in the fourth quarter. M&T Bank Corp now owns 1,558,411 shares of the utilities provider's stock worth $144,044,000 after buying an additional 1,528,630 shares in the last quarter. Vanguard Group Inc. raised its stake in Entergy by 2.6% in the third quarter. Vanguard Group Inc. now owns 57,947,906 shares of the utilities provider's stock valued at $5,400,165,000 after purchasing an additional 1,488,238 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in Entergy in the third quarter valued at approximately $135,396,000. Raymond James Financial Inc. raised its stake in Entergy by 137.1% in the third quarter. Raymond James Financial Inc. now owns 2,039,644 shares of the utilities provider's stock valued at $190,074,000 after purchasing an additional 1,179,362 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Entergy in the third quarter valued at approximately $108,005,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Up 0.0%

Shares of NYSE ETR opened at $109.08 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 1.80. Entergy Corporation has a 52 week low of $80.11 and a 52 week high of $118.44. The firm's fifty day moving average is $110.63 and its 200 day moving average is $101.42. The company has a market cap of $49.95 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.86 and a beta of 0.54.

Entergy (NYSE:ETR - Get Free Report) last issued its earnings results on Wednesday, April 29th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. Entergy had a net margin of 13.48% and a return on equity of 10.75%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities research analysts expect that Entergy Corporation will post 4.4 earnings per share for the current year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 1st will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, May 1st. Entergy's payout ratio is presently 65.31%.

Insider Activity at Entergy

In related news, EVP John C. Dinelli sold 5,372 shares of Entergy stock in a transaction on Friday, February 20th. The shares were sold at an average price of $103.95, for a total value of $558,419.40. Following the transaction, the executive vice president directly owned 23,609 shares of the company's stock, valued at $2,454,155.55. The trade was a 18.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ETR. Jefferies Financial Group reaffirmed a "buy" rating and issued a $131.00 target price (up from $114.00) on shares of Entergy in a research note on Monday, April 20th. Siebert Williams Shank assumed coverage on shares of Entergy in a research note on Tuesday, January 20th. They set a "buy" rating and a $109.00 price target on the stock. Weiss Ratings raised shares of Entergy from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday. Argus lifted their price target on shares of Entergy from $100.00 to $118.00 and gave the stock a "buy" rating in a research note on Monday, April 6th. Finally, Truist Financial set a $130.00 price target on shares of Entergy and gave the stock a "buy" rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.21.

About Entergy

Entergy Corporation NYSE: ETR is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company's operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy's generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.

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