QRG Capital Management Inc. Reduces Position in Entergy Corporation $ETR

Key Points

• QRG Capital Management Inc. has reduced its position in Entergy Corporation by 59.5%, selling 137,086 shares and retaining 93,475 shares worth approximately $7.77 million.
• Multiple institutional investors have increased their stakes in Entergy, with substantial increases from firms like Atwood & Palmer Inc. by 135.7% and Grove Bank & Trust by 188.5% during recent quarters.
• Analysts maintain a positive outlook on Entergy, with thirteen having rated the stock as a Buy, and the company currently holding an average rating of "Moderate Buy" and a consensus price target of $91.33.

QRG Capital Management Inc. lessened its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 59.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,475 shares of the utilities provider's stock after selling 137,086 shares during the period. QRG Capital Management Inc.'s holdings in Entergy were worth $7,770,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC lifted its stake in shares of Entergy by 100.0% during the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock worth $26,000 after purchasing an additional 150 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Entergy during the first quarter worth about $28,000. Atwood & Palmer Inc. lifted its stake in shares of Entergy by 135.7% during the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider's stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Entergy by 188.5% during 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 in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Entergy during the first quarter worth about $32,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analyst Upgrades and Downgrades

ETR has been the topic of a number of recent research reports. Jefferies Financial Group began coverage on Entergy in a research note on Thursday, September 4th. They set a "buy" rating and a $109.00 price objective on the stock. Raymond James Financial began coverage on Entergy in a research note on Friday, June 13th. They issued a "market perform" rating on the stock. KeyCorp reiterated 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. Morgan Stanley cut their price target on Entergy from $86.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Finally, 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. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $91.33.

Entergy Stock Up 2.0%

NYSE:ETR opened at $95.41 on Monday. The firm has a market capitalization of $42.59 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 2.60 and a beta of 0.62. The stock has a 50 day moving average of $89.72 and a 200-day moving average of $85.29. Entergy Corporation has a 52 week low of $64.38 and a 52 week high of $96.61. 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 (NYSE:ETR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.91 by $0.14. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%.During the same period in the prior year, the company earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's dividend payout ratio is 59.85%.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the transaction, the insider directly owned 3,318 shares of the company's stock, valued at $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

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.

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