Synovus Financial Corp Raises Stock Position in Entergy Corporation $ETR

Key Points

• Synovus Financial Corp increased its stake in Entergy Corporation by 122.2% during the first quarter, acquiring 13,966 additional shares, bringing its total holdings to 25,398 shares valued at approximately $2.17 million.
• Several institutional investors have significantly increased their stakes in Entergy recently, with Bank of America raising its investment by 142.8% and Vanguard Group by 5.2%, reflecting growing interest in the utilities provider.
• The company has a dividend yield of 2.7%, with a recently announced quarterly dividend of $0.60, indicating a healthy payout ratio of approximately 59.85%.

Synovus Financial Corp grew its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 122.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,398 shares of the utilities provider's stock after purchasing an additional 13,966 shares during the period. Synovus Financial Corp's holdings in Entergy were worth $2,171,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ETR. Choreo LLC grew its holdings in shares of Entergy by 12.3% during the 1st quarter. Choreo LLC now owns 9,546 shares of the utilities provider's stock worth $816,000 after acquiring an additional 1,042 shares during the period. First American Trust FSB bought a new position in Entergy in the 1st quarter valued at approximately $3,896,000. J.W. Cole Advisors Inc. bought a new position in Entergy in the 1st quarter valued at approximately $1,073,000. EverSource Wealth Advisors LLC lifted its position in Entergy by 24.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,390 shares of the utilities provider's stock valued at $546,000 after acquiring an additional 1,261 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Entergy by 25.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider's stock valued at $6,708,000 after acquiring an additional 15,892 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction 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 sale, the insider owned 3,318 shares in the company, valued at approximately $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company's stock.

Entergy Stock Performance

Entergy stock traded down $1.42 during trading on Thursday, reaching $88.14. The company had a trading volume of 5,441,168 shares, compared to its average volume of 2,471,586. Entergy Corporation has a 52 week low of $59.05 and a 52 week high of $92.40. The firm's 50-day simple moving average is $86.45 and its 200 day simple moving average is $84.28. The firm has a market capitalization of $39.34 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 2.44 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 (NYSE:ETR - Get Free Report) last announced 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 company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same period last year, the firm earned $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Sell-side analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, August 13th. Entergy's dividend payout ratio is presently 59.85%.

Wall Street Analysts Forecast Growth

Several equities 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 report on Thursday, July 31st. JPMorgan Chase & Co. increased their price target on Entergy from $102.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. BMO Capital Markets increased their price target on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Morgan Stanley set a $86.00 price target on Entergy and gave the company an "outperform" rating in a report on Thursday, August 21st. Finally, Raymond James Financial started coverage on Entergy in a report on Friday, June 13th. They set a "market perform" rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Entergy has a consensus rating of "Moderate Buy" and an average target price of $88.50.

Entergy 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.