Fifth Third Bancorp Sells 609 Shares of Entergy Corporation $ETR

Fifth Third Bancorp lowered its stake in Entergy Corporation (NYSE:ETR) by 4.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,786 shares of the utilities provider’s stock after selling 609 shares during the quarter. Fifth Third Bancorp’s holdings in Entergy were worth $1,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TD Asset Management Inc grew its holdings in Entergy by 964.8% in the 1st 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 last quarter. Vanguard Group Inc. boosted its position in Entergy by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 54,828,994 shares of the utilities provider’s stock valued at $4,687,331,000 after acquiring an additional 2,695,348 shares in the last quarter. Alkeon Capital Management LLC purchased a new position in shares of Entergy during the 1st quarter worth approximately $194,429,000. Nuveen LLC bought a new position in shares of Entergy in the 1st quarter worth approximately $123,648,000. Finally, GAMMA Investing LLC raised its position in shares of Entergy by 9,289.4% in the 1st quarter. GAMMA Investing LLC now owns 1,327,660 shares of the utilities provider’s stock worth $113,502,000 after acquiring an additional 1,313,520 shares in the last quarter. 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 firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the sale, the insider owned 3,318 shares in the company, valued at approximately $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays dropped their price target on Entergy from $91.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Entergy from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. KeyCorp reiterated an “overweight” rating and issued a $96.00 price target (up from $88.00) on shares of Entergy in a research note on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Entergy in a research note on Thursday, September 4th. They set a “buy” rating and a $109.00 price objective on the stock. Finally, Mizuho set a $97.00 target price on shares of Entergy and gave the company an “outperform” rating in a research note on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.80.

Entergy Stock Up 2.1%

Shares of Entergy stock opened at $92.22 on Monday. The company has a 50-day simple moving average of $89.14 and a two-hundred day simple moving average of $84.97. The stock has a market capitalization of $41.17 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 2.51 and a beta of 0.61. Entergy Corporation has a 52-week low of $64.38 and a 52-week high of $92.40. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.80.

Entergy (NYSE:ETR) last announced its quarterly earnings results 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. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the firm earned $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. On average, analysts anticipate 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 $0.60 dividend. 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%.

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.