Martingale Asset Management L P Sells 25,560 Shares of Entergy Corporation $ETR

Key Points

• Martingale Asset Management L P reduced its holdings in Entergy Corporation by 9.9%, now owning approximately 0.05% of the company valued at nearly $20 million.
• Entergy announced a quarterly dividend of $0.60, with a payout ratio of 59.85%, reflecting a 2.7% yield for shareholders.
• Wall Street analysts have varying opinions on Entergy, with ratings ranging from "Strong Buy" to "Hold," and a consensus price target of $88.07.

Martingale Asset Management L P lessened its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 9.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 233,690 shares of the utilities provider's stock after selling 25,560 shares during the quarter. Martingale Asset Management L P owned about 0.05% of Entergy worth $19,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ETR. Glen Eagle Advisors LLC increased its holdings in Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after acquiring an additional 180 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Entergy in the 1st quarter valued at $28,000. Fourth Dimension Wealth LLC purchased a new position in shares of Entergy during the 4th quarter valued at $30,000. Grove Bank & Trust increased its holdings in shares of 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 purchasing an additional 230 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in shares of Entergy in the first quarter worth $32,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ETR shares. Mizuho set a $97.00 target price on Entergy and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Morgan Stanley cut their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Raymond James Financial started coverage on shares of Entergy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. BMO Capital Markets lifted their target price on shares of Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, KeyCorp reissued an "overweight" rating and issued a $96.00 price target (up previously from $88.00) on shares of Entergy in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.14.

Entergy Trading Down 0.1%

Shares of NYSE:ETR traded down $0.10 on Monday, reaching $89.23. 1,173,308 shares of the company traded hands, compared to its average volume of 3,514,042. The stock has a market capitalization of $39.83 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. The business's 50-day simple moving average is $85.81 and its 200 day simple moving average is $84.11. The company has a current ratio of 0.80, a quick ratio of 0.52 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 issued 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 return on equity of 11.52% and a net margin of 14.35%.The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the prior year, the business posted $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, equities analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

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