Patton Fund Management Inc. Has $316,000 Position in Entergy Corporation $ETR

Key Points

• Patton Fund Management sharply reduced its Entergy stake in the first quarter, cutting holdings by 95.5% and leaving it with 2,813 shares worth about $316,000.
• Several analysts remain constructive on Entergy, with recent buy/overweight ratings and raised price targets from firms including Wells Fargo, KeyCorp, BTIG, and UBS. MarketBeat says the stock’s overall consensus is a Moderate Buy with an average target of $119.68.
• Entergy reported better-than-expected quarterly results, beating EPS and revenue estimates, and it also paid a $0.64 quarterly dividend that works out to an annualized yield of about 2.2%.

Patton Fund Management Inc. cut its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 95.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,813 shares of the utilities provider's stock after selling 60,355 shares during the quarter. Patton Fund Management Inc.'s holdings in Entergy were worth $316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Red Door Wealth Management LLC lifted its stake in shares of Entergy by 36.0% in the 1st quarter. Red Door Wealth Management LLC now owns 7,012 shares of the utilities provider's stock valued at $788,000 after purchasing an additional 1,855 shares during the period. Princeton Global Asset Management LLC grew its stake in shares of Entergy by 1.5% during the first quarter. Princeton Global Asset Management LLC now owns 112,831 shares of the utilities provider's stock worth $12,678,000 after purchasing an additional 1,618 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Entergy by 37.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 22,466 shares of the utilities provider's stock worth $2,524,000 after purchasing an additional 6,128 shares during the period. MFA Wealth Services increased its holdings in Entergy by 7.1% in the first quarter. MFA Wealth Services now owns 4,226 shares of the utilities provider's stock valued at $475,000 after purchasing an additional 280 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Entergy by 4.3% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 567,862 shares of the utilities provider's stock valued at $63,805,000 after buying an additional 23,539 shares during the period. Institutional investors own 88.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ETR shares. Wells Fargo & Company boosted their target price on Entergy from $123.00 to $128.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. KeyCorp reiterated an "overweight" rating and issued a $123.00 price target (up from $118.00) on shares of Entergy in a research report on Tuesday, April 21st. BTIG Research reissued a "buy" rating and set a $126.00 price objective on shares of Entergy in a research note on Wednesday, June 10th. UBS Group restated a "buy" rating and set a $135.00 price objective (up from $131.00) on shares of Entergy in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Entergy from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 2nd. Seventeen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Entergy currently has an average rating of "Moderate Buy" and an average price target of $119.68.

Insider Activity

In related news, insider Haley Fisackerly sold 10,638 shares of the company's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total transaction of $1,170,180.00. Following the sale, the insider owned 14,182 shares in the company, valued at approximately $1,560,020. This represents a 42.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.21% of the company's stock.

Entergy Price Performance

Shares of NYSE ETR opened at $116.20 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. The firm has a market cap of $53.21 billion, a PE ratio of 29.64, a PEG ratio of 1.98 and a beta of 0.50. The company has a fifty day moving average price of $111.98 and a 200 day moving average price of $104.89. Entergy Corporation has a 1-year low of $80.11 and a 1-year high of $118.44.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Wednesday, April 29th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.02. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $2.89 billion. Entergy had a return on equity of 10.75% and a net margin of 13.48%.During the same quarter last year, the firm earned $0.82 EPS. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. Research analysts predict that Entergy Corporation will post 4.4 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 1st were given a $0.64 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.2%. Entergy's payout ratio is currently 65.31%.

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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