Entergy Corporation $ETR Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Entergy Corporation by 19.8% in the 1st quarter, selling 9,555 shares and now owning 38,588 shares valued at approximately $3.3 million.
• Several analysts have recently updated their ratings for Entergy, with JPMorgan raising the price target to $103.00 and Mizuho setting a target of $97.00, reflecting a consensus rating of "Moderate Buy" among analysts.
• Entergy announced a quarterly dividend of $0.60, set to be paid to stockholders on September 2nd, contributing to an annualized dividend yield of 2.7%.

Rafferty Asset Management LLC lessened its stake in Entergy Corporation (NYSE:ETR - Free Report) by 19.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 38,588 shares of the utilities provider's stock after selling 9,555 shares during the period. Rafferty Asset Management LLC's holdings in Entergy were worth $3,299,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Acropolis Investment Management LLC grew its holdings in shares of Entergy by 0.7% in the first quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock valued at $1,535,000 after purchasing an additional 129 shares in the last quarter. Gen Wealth Partners Inc grew its stake in shares of Entergy by 27.5% in the fourth quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider's stock worth $51,000 after acquiring an additional 144 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in shares of Entergy by 18.6% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock worth $90,000 after acquiring an additional 165 shares in the last quarter. Horizon Investments LLC increased its position in shares of Entergy by 1.8% during the first quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider's stock worth $854,000 after acquiring an additional 176 shares during the period. Finally, Glen Eagle Advisors LLC raised its stake in shares of Entergy by 100.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy 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 of the company's stock, valued at $300,279. The trade was a 57.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.47% of the company's stock.

Entergy Stock Performance

ETR traded up $0.85 on Thursday, reaching $88.05. The company had a trading volume of 980,892 shares, compared to its average volume of 3,468,973. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 1 year low of $60.00 and a 1 year high of $92.40. The stock has a market capitalization of $39.30 billion, a PE ratio of 21.93, a P/E/G ratio of 2.40 and a beta of 0.61. The stock has a 50-day moving average price of $86.91 and a 200-day moving average price of $84.41.

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, 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 for the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, research analysts forecast that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

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

Wall Street Analyst Weigh In

ETR has been the subject of several analyst reports. Mizuho set a $97.00 target price on Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Barclays lowered their price objective on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. 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. JPMorgan Chase & Co. lifted their price target on shares of Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Finally, Jefferies Financial Group started coverage on shares of Entergy in a report on Thursday. They set a "buy" rating and a $109.00 price target for the company. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.87.

Entergy Company 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.