Entergy Co. (NYSE:ETR) Stock Holdings Lessened by LSV Asset Management

LSV Asset Management trimmed its stake in Entergy Co. (NYSE:ETR) by 7.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,100 shares of the utilities provider’s stock after selling 18,400 shares during the quarter. LSV Asset Management owned 0.10% of Entergy worth $23,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ETR. Norges Bank bought a new position in shares of Entergy in the fourth quarter valued at approximately $127,675,000. Confluence Investment Management LLC bought a new position in shares of Entergy in the first quarter valued at approximately $92,257,000. Franklin Resources Inc. raised its position in shares of Entergy by 25.2% in the fourth quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock valued at $400,901,000 after purchasing an additional 796,316 shares during the period. ClearBridge Investments Ltd raised its position in shares of Entergy by 29.3% in the fourth quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock valued at $315,254,000 after purchasing an additional 706,059 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Entergy by 220.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 685,186 shares of the utilities provider’s stock valued at $69,334,000 after purchasing an additional 471,291 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Entergy Stock Up 0.6 %

NYSE:ETR traded up $0.68 during trading hours on Friday, reaching $109.17. 1,013,203 shares of the stock were exchanged, compared to its average volume of 1,534,405. Entergy Co. has a twelve month low of $87.10 and a twelve month high of $114.28. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45. The firm has a 50 day moving average of $108.67 and a 200 day moving average of $104.56. The stock has a market cap of $23.31 billion, a PE ratio of 10.88, a PEG ratio of 2.00 and a beta of 0.71.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). Entergy had a return on equity of 10.20% and a net margin of 17.75%. The company had revenue of $31.17 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

ETR has been the topic of a number of recent analyst reports. Scotiabank dropped their price target on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $109.50 price objective (down previously from $117.00) on shares of Entergy in a research note on Wednesday, June 12th. Barclays raised their price objective on shares of Entergy from $107.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. BMO Capital Markets lowered their price objective on shares of Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Morgan Stanley lowered their price objective on shares of Entergy from $103.00 to $98.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.50.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total transaction of $165,345.00. Following the sale, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Reginald T. Jackson sold 9,229 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $108.71, for a total value of $1,003,284.59. Following the sale, the chief accounting officer now owns 2,166 shares in the company, valued at approximately $235,465.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Haley Fisackerly sold 1,500 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the sale, the insider now owns 2,479 shares in the company, valued at approximately $273,260.17. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Entergy 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.