SVB Wealth LLC Sells 42,397 Shares of Entergy Corporation $ETR

Key Points

• SVB Wealth LLC reduced its holdings in Entergy Corporation by 35.5%, selling 42,397 shares and owning 77,126 shares worth $6,594,000 following the sale.
• Several large institutional investors, including Bank of America and Millennium Management, significantly increased their stakes in Entergy during the fourth quarter, indicating strong interest among institutional holders.
• Entergy recently announced a quarterly dividend of $0.60 per share with an annual yield of 2.7%, while it has set its FY 2025 earnings guidance at 3.750-3.95 EPS.

SVB Wealth LLC cut its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 35.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,126 shares of the utilities provider's stock after selling 42,397 shares during the quarter. SVB Wealth LLC's holdings in Entergy were worth $6,594,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Acropolis Investment Management LLC lifted its holdings in shares of Entergy by 0.7% during the 1st quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock valued at $1,535,000 after buying an additional 129 shares during the last quarter. Gen Wealth Partners Inc increased its position in Entergy by 27.5% in the 4th quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider's stock worth $51,000 after buying an additional 144 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in Entergy by 18.6% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock worth $90,000 after buying an additional 165 shares during the period. Horizon Investments LLC grew its holdings in shares of Entergy by 1.8% during the 1st quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider's stock worth $854,000 after purchasing an additional 176 shares in the last quarter. Finally, Glen Eagle Advisors LLC grew its holdings in shares of Entergy by 100.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock worth $27,000 after purchasing an additional 180 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Trading Down 0.0%

Shares of ETR traded down $0.04 during trading hours on Wednesday, hitting $89.56. 1,632,036 shares of the stock traded hands, compared to its average volume of 3,505,833. 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 1-year low of $59.05 and a 1-year high of $92.40. The firm has a market capitalization of $39.98 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. The business has a fifty day moving average of $86.13 and a 200-day moving average of $84.20.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays decreased their price target on Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. JPMorgan Chase & Co. boosted their price target on Entergy from $102.00 to $103.00 and gave the company 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 on the stock. KeyCorp reaffirmed 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. Finally, Morgan Stanley set a $86.00 price objective on Entergy and gave the stock an "outperform" rating in a research note on Thursday, August 21st. One research 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.50.

Insiders Place Their Bets

In other Entergy 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 value of $403,901.50. Following the transaction, the insider owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

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.