Patton Fund Management Inc. Has $3.08 Million Stock Holdings in Entergy Corporation $ETR

Patton Fund Management Inc. cut its holdings in Entergy Corporation (NYSE:ETR) by 44.1% in the second quarter, Holdings Channel.com reports. The fund owned 37,004 shares of the utilities provider’s stock after selling 29,181 shares during the quarter. Patton Fund Management Inc.’s holdings in Entergy were worth $3,076,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC lifted its stake in Entergy by 100.0% in the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Entergy in the first quarter valued at approximately $28,000. Atwood & Palmer Inc. lifted its stake in Entergy by 135.7% in the second quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. Grove Bank & Trust lifted its stake in Entergy by 188.5% in the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 230 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Entergy in the first quarter valued at approximately $32,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on ETR. KeyCorp reiterated an “overweight” rating and issued a $96.00 target price (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Jefferies Financial Group initiated coverage on shares of Entergy in a research note on Thursday, September 4th. They issued a “buy” rating and a $109.00 price objective for the company. Raymond James Financial initiated coverage on shares of Entergy in a research note on Friday, June 13th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Finally, Mizuho set a $97.00 price objective on shares of Entergy and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and an average target price of $89.80.

Entergy Trading Up 2.1%

Shares of ETR stock opened at $92.22 on Friday. Entergy Corporation has a 1 year low of $64.38 and a 1 year high of $92.40. The firm’s fifty day simple moving average is $89.14 and its 200 day simple moving average is $84.94. The firm has a market capitalization of $41.17 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61. 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) last announced 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 business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the firm 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 predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. Entergy’s payout ratio is 59.85%.

Insider Transactions at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the transaction, the insider owned 3,318 shares of the company’s stock, valued at approximately $300,279. The trade was a 57.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.39% of the company’s stock.

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.