Raymond James Financial Inc. Reduces Stock Position in Entergy Corporation $ETR

Key Points

• Raymond James Financial Inc. has reduced its stake in Entergy Corporation by 4.5%, selling 59,891 shares and now owns approximately 1,273,960 shares worth $108.9 million.
• Entergy recently announced a quarterly dividend of $0.60 per share, representing a 2.7% yield, with the payment date set for September 2nd.
• Entergy's latest earnings report showed an EPS of $1.05, exceeding analysts' expectations, despite revenue slightly falling short of forecasts at $3.02 billion.

Raymond James Financial Inc. lowered its stake in Entergy Corporation (NYSE:ETR - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,273,960 shares of the utilities provider's stock after selling 59,891 shares during the quarter. Raymond James Financial Inc. owned approximately 0.30% of Entergy worth $108,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ETR. Glen Eagle Advisors LLC boosted its position 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 during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Entergy in the 1st quarter worth approximately $28,000. Fourth Dimension Wealth LLC bought a new position in Entergy in the 4th quarter valued at $30,000. Grove Bank & Trust grew its position in shares of Entergy by 188.5% during the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 230 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Entergy in the first quarter worth $32,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Mizuho set a $97.00 price objective on Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Barclays dropped their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Morgan Stanley cut their price objective on Entergy from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. JPMorgan Chase & Co. raised their target price on shares of Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, KeyCorp reiterated an "overweight" rating and set a $96.00 target price (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $88.14.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 4,463 shares of the 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 directly owned 3,318 shares in the company, valued at $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by corporate insiders.

Entergy Price Performance

Shares of ETR stock traded up $0.0090 during trading hours on Friday, hitting $89.2290. 2,029,222 shares of the company's stock were exchanged, compared to its average volume of 2,726,319. The company has a market capitalization of $39.83 billion, a PE ratio of 22.22, a PEG ratio of 2.43 and a beta of 0.57. 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 Corporation has a 12-month low of $59.05 and a 12-month high of $92.40. The business's 50 day simple moving average is $85.81 and its 200-day simple moving average is $84.11.

Entergy (NYSE:ETR - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter last year, the firm earned $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, equities research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

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

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.