Parallel Advisors LLC Sells 426 Shares of Entergy Corporation $ETR

Parallel Advisors LLC reduced its holdings in Entergy Corporation (NYSE:ETR) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,587 shares of the utilities provider’s stock after selling 426 shares during the quarter. Parallel Advisors LLC’s holdings in Entergy were worth $548,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. TD Asset Management Inc grew its holdings in shares of Entergy by 964.8% in the first quarter. TD Asset Management Inc now owns 3,055,698 shares of the utilities provider’s stock worth $261,232,000 after acquiring an additional 2,768,734 shares during the period. Vanguard Group Inc. lifted its position in shares of Entergy by 5.2% in 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 in the last quarter. Alkeon Capital Management LLC purchased a new stake in Entergy during the first quarter valued at approximately $194,429,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 valued at $217,786,000 after purchasing an additional 1,797,363 shares during the period. Finally, Nuveen LLC bought a new position in shares of Entergy during the first quarter valued at approximately $123,648,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In related news, insider Haley Fisackerly sold 4,463 shares of the 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 sale, the insider owned 3,318 shares in the company, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Entergy Stock Performance

Shares of ETR stock opened at $88.67 on Friday. Entergy Corporation has a 12 month low of $63.95 and a 12 month high of $92.40. 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 firm has a market capitalization of $39.58 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.39 and a beta of 0.61. The company’s fifty day moving average price is $88.46 and its two-hundred day moving average price is $84.63.

Entergy (NYSE:ETR) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.14. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates 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 EPS. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, August 13th. This represents a $2.40 annualized dividend and a yield of 2.7%. Entergy’s dividend payout ratio is 59.85%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ETR shares. Morgan Stanley set a $86.00 target price on Entergy and gave the company an “outperform” rating in a research report on Thursday, August 21st. KeyCorp reaffirmed an “overweight” rating and set a $96.00 price target (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Jefferies Financial Group assumed coverage on Entergy in a research report on Thursday, September 4th. They set a “buy” rating and a $109.00 target price on the stock. Barclays lowered their price objective on Entergy from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Entergy from $102.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and an average target price of $89.87.

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.