Entergy Corporation $ETR Stock Position Cut by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC cut its holdings in shares of Entergy Corporation (NYSE:ETR) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,062,870 shares of the utilities provider’s stock after selling 29,754 shares during the period. Entergy comprises about 6.3% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 3rd biggest position. HITE Hedge Asset Management LLC owned about 0.24% of Entergy worth $98,241,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. United Community Bank increased its stake in Entergy by 806.7% during the fourth quarter. United Community Bank now owns 272 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 242 shares during the period. Washington Trust Advisors Inc. increased its stake in Entergy by 119.4% during the fourth quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 154 shares during the period. Hantz Financial Services Inc. increased its stake in Entergy by 150.4% during the third quarter. Hantz Financial Services Inc. now owns 323 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 194 shares during the period. Valley National Advisers Inc. increased its stake in Entergy by 306.0% during the fourth quarter. Valley National Advisers Inc. now owns 341 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 257 shares during the period. Finally, Sarver Vrooman Wealth Advisors purchased a new stake in Entergy during the fourth quarter worth about $37,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Haley Fisackerly sold 10,638 shares of Entergy stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total value of $1,170,180.00. Following the transaction, the insider directly owned 14,182 shares in the company, valued at $1,560,020. This trade represents a 42.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.21% of the company’s stock.

Entergy Stock Up 1.1%

ETR stock opened at $111.09 on Friday. The company’s 50 day moving average price is $112.46 and its 200 day moving average price is $103.41. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.73 and a current ratio of 0.96. Entergy Corporation has a fifty-two week low of $80.11 and a fifty-two week high of $118.44. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 1.88 and a beta of 0.50.

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

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 1st were given a dividend of $0.64 per share. The ex-dividend date was Friday, May 1st. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.3%. Entergy’s dividend payout ratio (DPR) is 65.31%.

Analysts Set New Price Targets

ETR has been the topic of a number of recent research reports. Seaport Research Partners lowered shares of Entergy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. KeyCorp restated an “overweight” rating and set a $123.00 target price (up from $118.00) on shares of Entergy in a research note on Tuesday, April 21st. BMO Capital Markets set a $123.00 target price on shares of Entergy in a research note on Wednesday. Scotiabank restated a “sector outperform” rating on shares of Entergy in a research note on Wednesday. Finally, BTIG Research restated a “buy” rating and set a $126.00 target price on shares of Entergy in a research note on Wednesday. Seventeen investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.68.

About Entergy

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.