Hickory Point Bank & Trust Cuts Stock Position in Entergy Corporation $ETR

Hickory Point Bank & Trust trimmed its position in shares of Entergy Corporation (NYSE:ETR) by 9.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,018 shares of the utilities provider’s stock after selling 300 shares during the quarter. Hickory Point Bank & Trust’s holdings in Entergy were worth $251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ETR. TD Asset Management Inc boosted its stake in Entergy by 964.8% during the first quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider’s stock worth $261,232,000 after buying an additional 2,768,734 shares during the period. Vanguard Group Inc. boosted its stake in 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 buying an additional 2,695,348 shares during the period. Alkeon Capital Management LLC purchased a new position in Entergy during the first quarter worth $194,429,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Entergy by 167.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,872,407 shares of the utilities provider’s stock worth $217,786,000 after buying an additional 1,797,363 shares during the period. Finally, Nuveen LLC purchased a new position in Entergy during the first quarter worth $123,648,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Performance

ETR stock opened at $90.32 on Monday. 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 business has a 50-day moving average price of $87.76 and a 200 day moving average price of $84.53. The company has a market capitalization of $40.32 billion, a P/E ratio of 22.50, a PEG ratio of 2.46 and a beta of 0.61. Entergy Corporation has a 1-year low of $62.31 and a 1-year high of $92.40.

Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.14. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate 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 previous 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, equities research analysts forecast 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. Investors of record on Wednesday, August 13th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Wednesday, August 13th. Entergy’s payout ratio is presently 59.85%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ETR shares. Barclays dropped their price objective on shares of Entergy from $91.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Mizuho set a $97.00 target price on Entergy and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Jefferies Financial Group initiated coverage on Entergy in a research report on Thursday, September 4th. They set a “buy” rating and a $109.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Finally, Morgan Stanley set a $86.00 target price on Entergy and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.87.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the sale, the insider directly owned 3,318 shares in the company, valued at $300,279. The trade was a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.47% of the stock is owned by 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.