Franklin Resources Inc. Sells 220,726 Shares of Entergy Corporation $ETR

Franklin Resources Inc. cut its stake in shares of Entergy Corporation (NYSE:ETR) by 3.0% during the third quarter, HoldingsChannel reports. The firm owned 7,039,523 shares of the utilities provider’s stock after selling 220,726 shares during the quarter. Franklin Resources Inc.’s holdings in Entergy were worth $656,013,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Entergy by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 57,947,906 shares of the utilities provider’s stock valued at $5,400,165,000 after purchasing an additional 1,488,238 shares during the last quarter. State Street Corp lifted its position in Entergy by 4.5% in the second quarter. State Street Corp now owns 22,920,881 shares of the utilities provider’s stock worth $1,905,184,000 after buying an additional 981,750 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Entergy by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 14,648,707 shares of the utilities provider’s stock worth $1,365,113,000 after buying an additional 472,761 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Entergy by 3.6% during the second quarter. Ameriprise Financial Inc. now owns 13,652,982 shares of the utilities provider’s stock worth $1,134,850,000 after buying an additional 479,093 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Entergy by 4.7% during the second quarter. Geode Capital Management LLC now owns 11,242,611 shares of the utilities provider’s stock worth $930,541,000 after buying an additional 505,344 shares during the period. 88.07% of the stock is owned by institutional investors.

Insider Activity at Entergy

In other news, EVP John C. Dinelli sold 5,372 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $103.95, for a total transaction of $558,419.40. Following the transaction, the executive vice president directly owned 23,609 shares of the company’s stock, valued at approximately $2,454,155.55. This trade represents a 18.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Mizuho set a $112.00 target price on shares of Entergy in a research note on Friday, February 13th. Wells Fargo & Company lifted their price target on shares of Entergy from $105.00 to $119.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Wall Street Zen downgraded shares of Entergy from a “hold” rating to a “sell” rating in a report on Sunday, February 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Entergy in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $112.00 price objective on shares of Entergy in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Entergy presently has an average rating of “Moderate Buy” and an average price target of $106.61.

Entergy Stock Performance

ETR stock opened at $103.78 on Thursday. Entergy Corporation has a twelve month low of $75.57 and a twelve month high of $107.93. The firm has a market cap of $47.01 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 2.07 and a beta of 0.64. The business’s fifty day simple moving average is $99.14 and its two-hundred day simple moving average is $95.29. The company has a quick ratio of 0.51, a current ratio of 0.74 and a debt-to-equity ratio of 1.65.

Entergy (NYSE:ETR) last issued its earnings results on Thursday, February 12th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Entergy had a net margin of 13.66% and a return on equity of 10.89%. During the same period in the prior year, the firm posted $0.66 earnings per share. Entergy has set its FY 2026 guidance at 4.250-4.450 EPS. Analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 9th were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, February 9th. Entergy’s dividend payout ratio is currently 65.47%.

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.