Janney Montgomery Scott LLC Sells 63,722 Shares of Entergy Corporation $ETR

Key Points

• Janney Montgomery Scott LLC reduced its stake in Entergy Corporation by 26.5% during the second quarter, selling 63,722 shares and leaving it with 176,568 shares valued at approximately $14.68 million.
• Several institutional investors, including Vanguard Group Inc. and UBS AM, have increased their holdings in Entergy, indicating strong institutional support for the stock.
• Entergy announced a quarterly dividend of $0.60 per share, with a dividend yield of 2.6%, reflecting a 59.85% payout ratio.

Janney Montgomery Scott LLC reduced its position in Entergy Corporation (NYSE:ETR - Free Report) by 26.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,568 shares of the utilities provider's stock after selling 63,722 shares during the quarter. Janney Montgomery Scott LLC's holdings in Entergy were worth $14,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of 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 during the period. Ameriprise Financial Inc. boosted its position in shares of Entergy by 2.2% during the first quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider's stock worth $1,126,244,000 after acquiring an additional 289,468 shares during the last quarter. Northern Trust Corp boosted its position 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 worth $370,488,000 after acquiring an additional 143,187 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Entergy by 15.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,326,466 shares of the utilities provider's stock worth $284,380,000 after acquiring an additional 454,059 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Entergy by 0.4% during the first quarter. Boston Partners now owns 3,229,814 shares of the utilities provider's stock worth $276,101,000 after acquiring an additional 14,068 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ETR shares. Raymond James Financial started coverage on shares of Entergy in a research report on Friday, June 13th. They set a "market perform" rating for the company. Jefferies Financial Group assumed coverage on shares of Entergy in a research report on Thursday, September 4th. They set a "buy" rating and a $109.00 target price for the company. Barclays decreased their price target on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Mizuho set a $97.00 price target on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley decreased their price target on shares of Entergy from $86.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $89.80.

Insider Buying and Selling at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the sale, the insider owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.39% of the company's stock.

Entergy Trading Up 0.2%

Shares of ETR opened at $93.55 on Friday. Entergy Corporation has a twelve month low of $64.38 and a twelve month high of $94.31. The company has a market cap of $41.76 billion, a P/E ratio of 23.30, a P/E/G ratio of 2.54 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 company's fifty day simple moving average is $89.58 and its 200-day simple moving average is $85.19.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, beating 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 business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. Entergy's dividend payout ratio is currently 59.85%.

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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