Entergy Corporation $ETR Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. reduced its holdings in Entergy Corporation by 30.1%, now owning approximately $150.15 million worth, making Entergy its 23rd largest investment.
• Eleven analysts have assigned a Buy rating to Entergy stock, while the consensus price target is set at $88.50 after varying ratings and price objectives from firms like Barclays and JPMorgan.
• Entergy recently announced a quarterly dividend of $0.60 per share, with the next payment scheduled for September 2nd, reflecting a 2.7% yield.

Panagora Asset Management Inc. decreased its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 30.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,756,357 shares of the utilities provider's stock after selling 757,639 shares during the quarter. Entergy accounts for approximately 0.7% of Panagora Asset Management Inc.'s portfolio, making the stock its 23rd largest holding. Panagora Asset Management Inc. owned 0.41% of Entergy worth $150,151,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Entergy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock valued at $4,687,331,000 after acquiring an additional 2,695,348 shares during the period. Bank of America Corp DE raised its holdings in shares of Entergy by 142.8% during the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after acquiring an additional 10,347,926 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Entergy by 2.2% during the 1st 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 period. Royal Bank of Canada raised its holdings in shares of Entergy by 80.9% during the 4th quarter. Royal Bank of Canada now owns 4,673,139 shares of the utilities provider's stock worth $354,317,000 after acquiring an additional 2,089,169 shares during the period. Finally, Northern Trust Corp raised its holdings in Entergy by 3.4% in the 1st quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock valued at $370,488,000 after buying an additional 143,187 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Entergy Stock Up 0.6%

Shares of Entergy stock traded up $0.50 on Thursday, reaching $87.70. 1,319,989 shares of the company were exchanged, compared to its average volume of 3,470,911. Entergy Corporation has a 1-year low of $60.00 and a 1-year high of $92.40. The company has a market cap of $39.15 billion, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.61. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The stock's 50 day moving average price is $86.91 and its 200-day moving average price is $84.41.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. Entergy had a return on equity of 11.52% and a net margin of 14.35%.The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the company posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, equities analysts forecast that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. Entergy's payout ratio is currently 59.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ETR. Mizuho set a $97.00 price objective on shares of Entergy and gave the company an "outperform" rating in a report on Thursday, July 31st. Jefferies Financial Group began coverage on shares of Entergy in a report on Thursday. They issued a "buy" rating and a $109.00 price objective on the stock. Barclays reduced their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. KeyCorp restated an "overweight" rating and issued a $96.00 price objective (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. Finally, Raymond James Financial assumed coverage on shares of Entergy in a report on Friday, June 13th. They issued a "market perform" rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Entergy presently has a consensus rating of "Moderate Buy" and an average price target of $89.87.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 4,463 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the transaction, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

Entergy 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.