Union Bancaire Privee UBP SA Sells 3,478 Shares of Entergy Corporation $ETR

Key Points

• Union Bancaire Privee UBP SA reduced its stake in Entergy Corporation by 14.7%, selling 3,478 shares and leaving it with 20,160 shares valued at $1.68 million.
• Several institutional investors, including TD Asset Management and Vanguard Group, significantly increased their holdings in Entergy, indicating strong interest amidst varying market sentiments.
• Entergy announced a quarterly dividend of $0.60, representing a 2.6% yield and a payout ratio of 59.85%, highlighting its commitment to returning value to shareholders.

Union Bancaire Privee UBP SA cut its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 14.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,160 shares of the utilities provider's stock after selling 3,478 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Entergy were worth $1,676,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. TD Asset Management Inc raised its stake in Entergy by 964.8% during the 1st quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider's stock valued at $261,232,000 after purchasing an additional 2,768,734 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Entergy by 5.2% in the first quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider's stock worth $4,687,331,000 after buying an additional 2,695,348 shares in the last quarter. Alkeon Capital Management LLC purchased a new position in shares of Entergy in the first quarter worth $194,429,000. Nuveen LLC bought a new stake in Entergy in the 1st quarter valued at $123,648,000. Finally, Zimmer Partners LP increased its holdings in Entergy by 285.5% in the 1st quarter. Zimmer Partners LP now owns 1,133,474 shares of the utilities provider's stock valued at $96,901,000 after acquiring an additional 839,474 shares during the last quarter. Institutional investors own 88.07% of the company's stock.

Entergy Stock Performance

Shares of NYSE:ETR opened at $93.18 on Wednesday. The company has a market capitalization of $41.60 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 2.54 and a beta of 0.61. Entergy Corporation has a 12 month low of $64.38 and a 12 month high of $93.92. The firm's 50-day moving average is $89.37 and its 200 day moving average is $85.08. 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 released its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.14. The firm 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 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. Research analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's dividend payout ratio is 59.85%.

Wall Street Analysts Forecast Growth

ETR has been the topic of a number of research reports. KeyCorp reiterated an "overweight" rating and issued a $96.00 price target (up from $88.00) on shares of Entergy in a report on Thursday, July 31st. Morgan Stanley decreased their target price on Entergy from $86.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. lifted their price objective on Entergy from $102.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Jefferies Financial Group initiated coverage on Entergy in a research note on Thursday, September 4th. They issued a "buy" rating and a $109.00 price objective on the stock. Finally, Mizuho set a $97.00 price objective on Entergy and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Entergy presently has an average rating of "Moderate Buy" and a consensus target price of $89.80.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the company's 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 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 legal filing with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.

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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