Assenagon Asset Management S.A. Sells 224,373 Shares of Entergy Corporation $ETR

Assenagon Asset Management S.A. decreased its holdings in Entergy Corporation (NYSE:ETR) by 85.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,319 shares of the utilities provider’s stock after selling 224,373 shares during the period. Assenagon Asset Management S.A.’s holdings in Entergy were worth $4,306,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Entergy by 54.9% during the 4th quarter. JPMorgan Chase & Co. now owns 22,694,994 shares of the utilities provider’s stock worth $2,097,699,000 after acquiring an additional 8,046,287 shares during the last quarter. Norges Bank bought a new position in Entergy during the fourth quarter worth $528,313,000. Morgan Stanley boosted its position in Entergy by 22.9% during the fourth quarter. Morgan Stanley now owns 10,651,436 shares of the utilities provider’s stock worth $984,512,000 after purchasing an additional 1,986,369 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Entergy by 89.6% in the fourth quarter. Raymond James Financial Inc. now owns 3,866,426 shares of the utilities provider’s stock valued at $357,415,000 after purchasing an additional 1,826,782 shares during the last quarter. Finally, Zimmer Partners LP bought a new position in shares of Entergy in the fourth quarter valued at about $153,616,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ETR shares. BMO Capital Markets set a $123.00 target price on shares of Entergy in a research note on Wednesday, June 10th. Jefferies Financial Group reissued a “buy” rating on shares of Entergy in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of Entergy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Seaport Research Partners cut Entergy from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Finally, Barclays decreased their target price on Entergy from $124.00 to $119.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Seventeen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.68.

Insider Activity at Entergy

In other news, insider Haley Fisackerly sold 10,638 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total transaction of $1,170,180.00. Following the completion of the sale, the insider owned 14,182 shares of the company’s stock, valued at approximately $1,560,020. This represents a 42.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.21% of the company’s stock.

Entergy Stock Up 0.2%

Shares of ETR opened at $116.20 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. Entergy Corporation has a 12 month low of $80.11 and a 12 month high of $118.44. The firm’s 50 day moving average is $111.98 and its 200-day moving average is $104.89. The stock has a market capitalization of $53.21 billion, a PE ratio of 29.64, a P/E/G ratio of 1.98 and a beta of 0.50.

Entergy (NYSE:ETR) last issued its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $2.89 billion. Entergy had a return on equity of 10.75% and a net margin of 13.48%.During the same quarter in the prior year, the business posted $0.82 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts forecast that Entergy Corporation will post 4.4 EPS for the current year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 1st were given a $0.64 dividend. The ex-dividend date was Friday, May 1st. This represents a $2.56 annualized dividend and a dividend yield of 2.2%. Entergy’s payout ratio is presently 65.31%.

Entergy Profile

Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.