Entergy Corporation $ETR Shares Sold by Kennebec Savings Bank

Kennebec Savings Bank cut its holdings in shares of Entergy Corporation (NYSE:ETR) by 26.5% in the 2nd quarter, Holdings Channel reports. The fund owned 833 shares of the utilities provider’s stock after selling 301 shares during the period. Kennebec Savings Bank’s holdings in Entergy were worth $69,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Entergy by 5.2% during the first 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. lifted its position in shares of Entergy by 2.2% during the first 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 lifted its position in shares of Entergy by 3.4% during the first 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 lifted its position in shares of Entergy by 15.8% during the first 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 purchasing an additional 454,059 shares during the last quarter. Finally, Boston Partners lifted its position in shares of Entergy by 0.4% during the first quarter. Boston Partners now owns 3,229,814 shares of the utilities provider’s stock worth $276,101,000 after purchasing an additional 14,068 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 3,318 shares in the company, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ETR shares. Raymond James Financial started coverage on shares of Entergy in a research report on Friday, June 13th. They set a “market perform” rating on the stock. KeyCorp reaffirmed an “overweight” rating and set a $96.00 price target (up previously from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Morgan Stanley reduced their price target on shares of Entergy from $86.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Jefferies Financial Group assumed coverage on shares of Entergy in a research report on Thursday, September 4th. They set a “buy” rating and a $109.00 price target on the stock. Finally, Barclays cut their target price on shares of Entergy from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.80.

Entergy Stock Performance

Shares of NYSE ETR opened at $93.43 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The firm’s 50-day moving average price is $89.47 and its two-hundred day moving average price is $85.14. Entergy Corporation has a 52-week low of $64.38 and a 52-week high of $94.31. The stock has a market capitalization of $41.71 billion, a P/E ratio of 23.27, a P/E/G ratio of 2.54 and a beta of 0.62.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the company posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, sell-side analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were paid a $0.60 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. Entergy’s dividend payout ratio (DPR) is presently 59.85%.

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.