UMB Bank n.a. Lowers Holdings in Entergy Corporation $ETR

Key Points

• UMB Bank n.a. reduced its stake in Entergy Corporation by 43.3% in the second quarter, now holding 6,288 shares worth $523,000.
• Analysts have generally given Entergy a "Moderate Buy" consensus rating, with a price target of $89.87, following recent target price adjustments by firms like Morgan Stanley and JPMorgan Chase & Co.
• Entergy announced a quarterly dividend of $0.60 per share, resulting in a 2.7% dividend yield with a payout ratio of 59.85%.

UMB Bank n.a. lessened its stake in Entergy Corporation (NYSE:ETR - Free Report) by 43.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,288 shares of the utilities provider's stock after selling 4,807 shares during the quarter. UMB Bank n.a.'s holdings in Entergy were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Entergy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock worth $4,687,331,000 after purchasing an additional 2,695,348 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Entergy by 2.2% in the 1st quarter. Ameriprise Financial Inc. now owns 13,173,889 shares of the utilities provider's stock worth $1,126,244,000 after purchasing an additional 289,468 shares during the last quarter. Northern Trust Corp raised its position in shares of Entergy by 3.4% in the 1st quarter. Northern Trust Corp now owns 4,333,701 shares of the utilities provider's stock worth $370,488,000 after purchasing an additional 143,187 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Entergy by 15.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,326,466 shares of the utilities provider's stock worth $284,380,000 after buying an additional 454,059 shares during the last quarter. Finally, Boston Partners lifted its stake in Entergy by 0.4% during the 1st quarter. Boston Partners now owns 3,229,814 shares of the utilities provider's stock valued at $276,101,000 after acquiring an additional 14,068 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley set a $86.00 target price on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday, August 21st. Mizuho set a $97.00 target price on shares of Entergy and gave the company an "outperform" rating in a research note on Thursday, July 31st. Raymond James Financial assumed coverage on shares of Entergy in a research note on Friday, June 13th. They set a "market perform" rating on the stock. JPMorgan Chase & Co. upped 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, August 21st. Finally, KeyCorp restated an "overweight" rating and set a $96.00 target price (up previously from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Entergy has a consensus rating of "Moderate Buy" and an average price target of $89.87.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $90.50, for a total transaction of $403,901.50. Following the sale, the insider directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

Entergy Trading Up 0.7%

ETR stock opened at $89.27 on Tuesday. Entergy Corporation has a 1-year low of $64.38 and a 1-year high of $92.40. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The company has a market capitalization of $39.85 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.41 and a beta of 0.61. The business has a 50 day simple moving average of $88.59 and a two-hundred day simple moving average of $84.71.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.14. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.11 billion. Entergy had a return on equity of 11.52% and a net margin of 14.35%.During the same period in the prior year, the firm earned $1.92 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Research analysts anticipate 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 dividend of $0.60 per share. 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 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.

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