Price T Rowe Associates Inc. MD Sells 461,601 Shares of Entergy Corporation $ETR

Key Points

• Price T Rowe Associates Inc. MD reduced its holdings in Entergy Corporation by 22.6%, owning 1,576,403 shares valued at approximately $134.77 million after selling 461,601 shares in the first quarter.
• Multiple analysts have set various target prices for Entergy, with Mizuho setting the highest at $97.00 and JPMorgan Chase recently increasing their target to $103.00, indicative of growth expectations for the stock.
• Entergy declared a quarterly dividend of $0.60 per share, representing an annualized yield of 2.7%, with a payout ratio of 59.85% as part of its ongoing commitment to returning value to shareholders.

Price T Rowe Associates Inc. MD reduced its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 22.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,576,403 shares of the utilities provider's stock after selling 461,601 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.37% of Entergy worth $134,767,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Entergy during the first quarter valued at approximately $28,000. Grove Bank & Trust raised its stake in Entergy by 188.5% during the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after buying an additional 230 shares during the last quarter. Glen Eagle Advisors LLC raised its stake in Entergy by 100.0% during the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after buying an additional 180 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Entergy during the first quarter valued at $32,000. Finally, Fourth Dimension Wealth LLC purchased a new position in Entergy during the fourth quarter valued at $30,000. 88.07% of the stock is currently owned by institutional investors.

Insider Activity at Entergy

In other Entergy 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 sale, the insider 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

Entergy Stock Performance

Shares of ETR traded down $0.04 during trading hours on Wednesday, hitting $89.56. The stock had a trading volume of 1,632,192 shares, compared to its average volume of 2,664,014. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. Entergy Corporation has a 12 month low of $59.05 and a 12 month high of $92.40. The firm has a market capitalization of $39.98 billion, a PE ratio of 22.31, a PEG ratio of 2.44 and a beta of 0.57. The stock has a fifty day moving average price of $86.31 and a 200 day moving average price of $84.23.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, topping 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 analyst estimates of $3.11 billion. During the same quarter 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. Analysts anticipate that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. Entergy's payout ratio is presently 59.85%.

Wall Street Analyst Weigh In

ETR has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. KeyCorp restated an "overweight" rating and issued a $96.00 price target (up previously from $88.00) on shares of Entergy in a research note on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Raymond James Financial assumed coverage on Entergy in a research note on Friday, June 13th. They issued a "market perform" rating for the company. Finally, Morgan Stanley set a $86.00 price target on Entergy and gave the stock an "outperform" rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.50.

About Entergy

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.