Jennison Associates LLC Lowers Stock Position in Entergy Corporation $ETR

Key Points

• Jennison Associates LLC reduced its Entergy position by 25% in the first quarter, selling 653,575 shares and ending with 1,965,259 shares worth about $220.8 million.
• Entergy reported better-than-expected Q1 earnings, posting $0.86 EPS versus the $0.84 consensus and revenue of $3.19 billion versus the $2.89 billion estimate.
• Wall Street remains largely positive on the stock, with 17 Buy ratings and a consensus price target of $120.21, while Entergy’s shares recently traded near $113.43.

Jennison Associates LLC cut its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,965,259 shares of the utilities provider's stock after selling 653,575 shares during the quarter. Jennison Associates LLC owned 0.43% of Entergy worth $220,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Entergy by 3.6% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,623 shares of the utilities provider's stock valued at $295,000 after buying an additional 90 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Entergy by 9.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,096 shares of the utilities provider's stock worth $126,000 after acquiring an additional 92 shares in the last quarter. Aristotle Capital Management LLC increased its stake in Entergy by 4.4% in the fourth quarter. Aristotle Capital Management LLC now owns 2,280 shares of the utilities provider's stock valued at $211,000 after acquiring an additional 96 shares during the last quarter. Founders Financial Securities LLC increased its stake in Entergy by 2.5% in the first quarter. Founders Financial Securities LLC now owns 4,094 shares of the utilities provider's stock valued at $481,000 after acquiring an additional 101 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its position in Entergy by 2.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,807 shares of the utilities provider's stock valued at $352,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Stock Performance

NYSE ETR opened at $113.43 on Friday. The company has a 50-day simple moving average of $112.20 and a two-hundred day simple moving average of $106.95. Entergy Corporation has a 12-month low of $84.76 and a 12-month high of $118.44. The firm has a market cap of $51.94 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 1.93 and a beta of 0.50. 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 (NYSE:ETR - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $2.89 billion. Entergy had a return on equity of 10.75% and a net margin of 13.48%.During the same quarter in the previous year, the business earned $0.82 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities analysts forecast that Entergy Corporation will post 4.4 EPS for the current year.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 10,638 shares of Entergy stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total value of $1,170,180.00. Following the transaction, the insider directly owned 14,182 shares of the company's stock, valued at $1,560,020. The trade was a 42.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ETR. UBS Group reaffirmed a "buy" rating and set a $135.00 price target (up from $131.00) on shares of Entergy in a research note on Thursday, April 30th. Wall Street Zen upgraded Entergy from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 2nd. Jefferies Financial Group reissued a "buy" rating on shares of Entergy in a report on Wednesday, June 10th. Scotiabank reaffirmed a "sector outperform" rating on shares of Entergy in a research note on Wednesday, June 10th. Finally, Argus increased their price target on shares of Entergy from $100.00 to $118.00 and gave the company a "buy" rating in a research report on Monday, April 6th. Seventeen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.21.

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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