Gilliland Jeter Wealth Management LLC Lowers Position in Entergy Corporation $ETR

Gilliland Jeter Wealth Management LLC lessened its position in Entergy Corporation (NYSE:ETR) by 14.2% in the second quarter, HoldingsChannel reports. The firm owned 2,421 shares of the utilities provider’s stock after selling 400 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Entergy were worth $201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mattson Financial Services LLC lifted its stake in shares of Entergy by 100.0% in the 1st quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 150 shares during the period. Atwood & Palmer Inc. lifted its stake in shares of Entergy by 135.7% in the 2nd quarter. Atwood & Palmer Inc. now owns 330 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Entergy in the 1st quarter valued at approximately $28,000. Grove Bank & Trust lifted its stake in shares of Entergy by 188.5% in the 1st quarter. Grove Bank & Trust now owns 352 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 230 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Entergy in the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Stock Down 1.1%

ETR stock opened at $95.58 on Friday. Entergy Corporation has a 1-year low of $64.38 and a 1-year high of $98.58. The business has a fifty day moving average price of $90.34 and a 200-day moving average price of $85.61. 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 stock has a market capitalization of $42.67 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.63 and a beta of 0.62.

Entergy (NYSE:ETR) last posted its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.14. Entergy had a return on equity of 11.52% and a net margin of 14.35%.The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the previous year, the business earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. Equities analysts forecast that Entergy Corporation will post 3.88 earnings per share 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. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. Entergy’s payout ratio is presently 59.85%.

Insider Activity at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of Entergy 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 completion of the sale, the insider owned 3,318 shares of the company’s stock, valued at $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 at this link. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ETR. Weiss Ratings restated a “buy (b)” rating on shares of Entergy in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Entergy from $102.00 to $103.00 and gave the company 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 set a “buy” rating and a $109.00 price objective for the company. Morgan Stanley lowered their price objective on Entergy from $86.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Finally, Evercore ISI set a $98.00 price objective on Entergy and gave the company an “in-line” rating in a research note on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Entergy 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.