Lazard Asset Management LLC Lowers Position in Entergy Co. (NYSE:ETR)

Lazard Asset Management LLC cut its stake in shares of Entergy Co. (NYSE:ETR) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 487,327 shares of the utilities provider’s stock after selling 17,476 shares during the period. Lazard Asset Management LLC owned about 0.23% of Entergy worth $51,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Capital Research Global Investors lifted its position in Entergy by 22.5% during the first quarter. Capital Research Global Investors now owns 2,753,248 shares of the utilities provider’s stock valued at $290,963,000 after purchasing an additional 505,705 shares in the last quarter. Capital International Investors lifted its position in shares of Entergy by 64.2% in the first quarter. Capital International Investors now owns 4,170,045 shares of the utilities provider’s stock valued at $440,690,000 after acquiring an additional 1,630,057 shares in the last quarter. Capital Group Private Client Services Inc. purchased a new position in shares of Entergy in the first quarter valued at about $17,678,000. Advisors Asset Management Inc. lifted its position in shares of Entergy by 6.6% in the first quarter. Advisors Asset Management Inc. now owns 34,778 shares of the utilities provider’s stock valued at $3,675,000 after acquiring an additional 2,155 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its position in shares of Entergy by 2.8% in the first quarter. CreativeOne Wealth LLC now owns 5,312 shares of the utilities provider’s stock valued at $561,000 after acquiring an additional 146 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Entergy Trading Up 2.0 %

NYSE ETR traded up $2.21 during trading hours on Friday, hitting $113.63. 1,405,502 shares of the company were exchanged, compared to its average volume of 1,290,799. The stock has a market cap of $24.26 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. The stock has a 50-day moving average price of $108.48 and a 200 day moving average price of $105.21. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $114.28. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.68.

Entergy (NYSE:ETR) last released its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The business had revenue of $31.17 billion for the quarter, compared to the consensus estimate of $3.16 billion. Entergy had a net margin of 17.75% and a return on equity of 10.20%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 EPS. Analysts forecast that Entergy Co. will post 7.21 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.98%. Entergy’s dividend payout ratio is 45.34%.

Wall Street Analysts Forecast Growth

ETR has been the topic of several research analyst reports. Mizuho boosted their price objective on Entergy from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Scotiabank reduced their target price on Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Barclays reduced their target price on Entergy from $116.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. KeyCorp lifted their target price on Entergy from $112.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, BMO Capital Markets reduced their target price on Entergy from $120.00 to $117.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.42.

Insider Activity

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 transaction, the insider now owns 2,479 shares of the company’s stock, valued at $273,260.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Reginald T. Jackson sold 9,229 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 2,166 shares in the company, valued at $235,465.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Haley Fisackerly sold 1,500 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $273,260.17. The disclosure for this sale can be found here. 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.