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Phillip R. May Jr., an executive at Entergy Corp (NYSE:ETR), a $36.6 billion utility company whose stock has surged 72% over the past year, has recently sold a significant portion of his common stock holdings. According to a recent SEC filing, May sold 35,184 shares at a price of $85.28 per share, totaling approximately $3,000,491.
The transactions were part of a pre-established trading plan under Rule 10b5-1, which May adopted on November 19, 2024. In addition to the sale, the executive exercised options to acquire 12,400 shares at $44.60 per share and 10,784 shares at $47.94 per share, with total acquisition costs of $553,040 and $516,984 respectively. The stock currently trades near its 52-week high of $88.38, with a P/E ratio of 20.7.
Following these transactions, May holds 26,566 shares directly and 17,715 shares indirectly through a 401(k) plan. InvestingPro analysis shows the company has maintained dividend payments for 38 consecutive years, with 8 additional key insights available to subscribers through comprehensive Pro Research Reports.
In other recent news, Entergy Corporation’s fourth-quarter 2024 earnings per share (EPS) of $0.66 exceeded analyst expectations, though revenue fell short at $3.01 billion against a projected $3.24 billion. Scotiabank (TSX:BNS) analysts raised Entergy’s stock price target to $89, citing strong market positioning and increased demand, while maintaining a Sector Perform rating. They noted Entergy’s EPS growth guidance exceeding 8% through 2028, with estimates for 2026 to 2028 suggesting even higher increases. Meanwhile, Mizuho (NYSE:MFG) Securities adjusted Entergy’s price target to $95, maintaining an Outperform rating, following Entergy’s announcement of a $2.7 billion increase in its capital investment plan, totaling approximately $37 billion through 2028. Guggenheim Securities also raised the price target to $95, reiterating a Buy rating, supported by Entergy’s solid performance and improved EPS outlook through 2028. Entergy’s strategic initiatives include significant investments in renewables and infrastructure, with an anticipated industrial sales growth of 12-13% from 2024 to 2028. These developments reflect Entergy’s robust operational execution and its ability to capitalize on industrial demand.
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