BankPlus Trust Department Lowers Stake in Entergy Corporation $ETR

BankPlus Trust Department reduced its holdings in shares of Entergy Corporation (NYSE:ETR) by 31.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 620 shares of the utilities provider’s stock after selling 288 shares during the period. BankPlus Trust Department’s holdings in Entergy were worth $52,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Marks Group Wealth Management Inc grew its position in Entergy by 58.2% during the 2nd quarter. Marks Group Wealth Management Inc now owns 28,161 shares of the utilities provider’s stock worth $2,341,000 after purchasing an additional 10,357 shares during the last quarter. Simplicity Wealth LLC purchased a new position in Entergy during the 2nd quarter worth $408,000. AMF Tjanstepension AB purchased a new position in Entergy during the 2nd quarter worth $30,969,000. 111 Capital purchased a new position in Entergy during the 2nd quarter worth $1,019,000. Finally, Segment Wealth Management LLC grew its position in Entergy by 17.2% during the 2nd quarter. Segment Wealth Management LLC now owns 7,107 shares of the utilities provider’s stock worth $591,000 after purchasing an additional 1,045 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Performance

Shares of ETR opened at $96.70 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The stock has a market cap of $43.17 billion, a P/E ratio of 24.08, a PEG ratio of 2.61 and a beta of 0.62. The company has a 50-day moving average of $90.24 and a two-hundred day moving average of $85.53. Entergy Corporation has a 12-month low of $64.38 and a 12-month high of $98.58.

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. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Entergy had a net margin of 14.35% and a return on equity of 11.52%. During the same quarter in the previous year, the business posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, research analysts predict that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 13th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. Entergy’s payout ratio is presently 59.85%.

Analyst Upgrades and Downgrades

ETR has been the topic of several analyst reports. Mizuho set a $97.00 target price on shares of Entergy and gave the company an “outperform” rating in a report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Entergy in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Morgan Stanley lowered their target price on shares of Entergy from $86.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, September 25th. Finally, Scotiabank set a $105.00 target price on shares of Entergy and gave the company an “outperform” rating in a report on Friday, October 3rd. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the transaction, the insider owned 3,318 shares in the company, 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 accessible through this link. Insiders own 0.39% of the company’s stock.

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.