The Manufacturers Life Insurance Company Lowers Position in Entergy Corporation $ETR

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Entergy Corporation by 10.1%, holding approximately $66.04 million in stock at the end of the first quarter.
• Entergy reported an earnings per share (EPS) of $1.05 for the last quarter, which exceeded analyst estimates of $0.91, despite its revenue falling short of expectations.
• The company declared a quarterly dividend of $0.60 per share, with an annualized yield of 2.7%, indicating a healthy return for investors.

The Manufacturers Life Insurance Company lowered its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 772,441 shares of the utilities provider's stock after selling 86,678 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.18% of Entergy worth $66,036,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Acropolis Investment Management LLC increased its position in Entergy by 0.7% during the 1st quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock worth $1,535,000 after purchasing an additional 129 shares in the last quarter. Gen Wealth Partners Inc boosted its holdings in Entergy by 27.5% in the fourth quarter. Gen Wealth Partners Inc now owns 668 shares of the utilities provider's stock valued at $51,000 after acquiring an additional 144 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Entergy by 18.6% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock valued at $90,000 after purchasing an additional 165 shares in the last quarter. Horizon Investments LLC lifted its stake in Entergy by 1.8% in 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 boosted its stake 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 during the period. 88.07% of the stock is currently owned by institutional investors.

Entergy Stock Performance

NYSE:ETR traded down $0.26 during mid-day trading on Wednesday, hitting $87.15. The stock had a trading volume of 1,545,410 shares, compared to its average volume of 3,484,265. The stock has a market cap of $38.90 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.40 and a beta of 0.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80. Entergy Corporation has a twelve month low of $60.00 and a twelve month high of $92.40. The company's 50 day simple moving average is $86.79 and its 200 day simple moving average is $84.39.

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 the consensus estimate of $0.91 by $0.14. The company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same period last year, the firm earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, equities research analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.8%. Entergy's payout ratio is 59.85%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ETR shares. Barclays dropped 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. upped their price objective 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 report on Friday, June 13th. They set a "market perform" rating on the stock. Morgan Stanley set a $86.00 target price on Entergy and gave the company an "outperform" rating in a research note on Thursday, August 21st. Finally, Mizuho set a $97.00 price target on Entergy and gave the company an "outperform" rating in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.50.

Insiders Place Their Bets

In other news, insider Haley Fisackerly sold 4,463 shares of the 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 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company's stock.

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.