Park Avenue Securities LLC Sells 4,871 Shares of Entergy Corporation $ETR

Key Points

• Park Avenue Securities LLC reduced its holdings in Entergy Corporation by 11.2%, selling 4,871 shares, leaving it with 38,742 shares worth approximately $3.22 million.
• Multiple institutional investors, including TD Asset Management Inc and GAMMA Investing LLC, significantly increased their stakes in Entergy during the first quarter.
• Entergy recently declared a quarterly dividend of $0.60 per share, representing an annualized yield of 2.6% and a dividend payout ratio of 59.85%.

Park Avenue Securities LLC reduced its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 11.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,742 shares of the utilities provider's stock after selling 4,871 shares during the quarter. Park Avenue Securities LLC's holdings in Entergy were worth $3,220,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ETR. TD Asset Management Inc increased its stake in Entergy by 964.8% during the 1st quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider's stock worth $261,232,000 after purchasing an additional 2,768,734 shares in the last quarter. Vanguard Group Inc. lifted its stake in Entergy by 5.2% in the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock valued at $4,687,331,000 after buying an additional 2,695,348 shares in the last quarter. Alkeon Capital Management LLC acquired a new stake in shares of Entergy during the first quarter worth $194,429,000. Nuveen LLC bought a new stake in Entergy in the 1st quarter valued at $123,648,000. Finally, GAMMA Investing LLC boosted its stake in Entergy by 9,289.4% in the 1st quarter. GAMMA Investing LLC now owns 1,327,660 shares of the utilities provider's stock worth $113,502,000 after purchasing an additional 1,313,520 shares during the period. Institutional investors own 88.07% of the company's stock.

Analyst Ratings Changes

ETR has been the topic of several recent research reports. Mizuho set a $97.00 price target on Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. boosted their target price on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. KeyCorp reaffirmed an "overweight" rating and set a $96.00 price target (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Raymond James Financial started coverage on shares of Entergy in a report on Friday, June 13th. They issued a "market perform" rating on the stock. Finally, Barclays reduced their target price on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.87.

Entergy Stock Up 1.7%

Shares of ETR stock opened at $90.78 on Wednesday. Entergy Corporation has a 52-week low of $64.38 and a 52-week high of $92.40. The stock has a market cap of $40.52 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 2.43 and a beta of 0.61. The firm's 50-day moving average is $88.75 and its 200-day moving average is $84.75. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80.

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

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 annualized dividend and a yield of 2.6%. Entergy's dividend payout ratio (DPR) is currently 59.85%.

Insider Buying and Selling

In other Entergy 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 value of $403,901.50. Following the transaction, the insider directly owned 3,318 shares in the company, valued at $300,279. The trade was a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

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.

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