Entergy Co. (NYSE:ETR) Holdings Cut by Channing Capital Management LLC

Channing Capital Management LLC reduced its stake in shares of Entergy Co. (NYSE:ETR) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,515 shares of the utilities provider’s stock after selling 560 shares during the period. Channing Capital Management LLC’s holdings in Entergy were worth $6,933,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ETR. Commonwealth Equity Services LLC lifted its stake in shares of Entergy by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 38,239 shares of the utilities provider’s stock valued at $3,537,000 after purchasing an additional 467 shares during the last quarter. SVB Wealth LLC lifted its holdings in Entergy by 7.1% in the 3rd quarter. SVB Wealth LLC now owns 2,513 shares of the utilities provider’s stock worth $232,000 after purchasing an additional 166 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Entergy by 14.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 26,021 shares of the utilities provider’s stock worth $2,407,000 after buying an additional 3,345 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Entergy by 5.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 49,951 shares of the utilities provider’s stock worth $4,620,000 after acquiring an additional 2,588 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in shares of Entergy by 6.2% in the third quarter. Stratos Wealth Partners LTD. now owns 6,533 shares of the utilities provider’s stock valued at $604,000 after purchasing an additional 382 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Price Performance

ETR stock traded up $0.99 during trading on Monday, hitting $109.07. 1,051,950 shares of the stock traded hands, compared to its average volume of 1,422,477. The company has a current ratio of 0.69, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. The stock has a market cap of $23.29 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 2.01 and a beta of 0.69. Entergy Co. has a one year low of $87.10 and a one year high of $109.29. The company has a 50 day simple moving average of $104.02 and a 200 day simple moving average of $101.21.

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

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be given a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 4.14%. The ex-dividend date is Wednesday, May 1st. Entergy’s payout ratio is presently 45.34%.

Insiders Place Their Bets

In related news, EVP Kimberly Cook-Nelson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $100.35, for a total value of $200,700.00. Following the completion of the sale, the executive vice president now owns 16,037 shares of the company’s stock, valued at $1,609,312.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Marcus V. Brown sold 8,500 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the transaction, the executive vice president now directly owns 9,911 shares in the company, valued at $1,019,247.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of Entergy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the sale, the executive vice president now directly owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,000 shares of company stock valued at $1,226,685. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ETR shares. Scotiabank lowered 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. KeyCorp boosted their target price on shares of Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $117.00 price target on shares of Entergy in a report on Monday, February 26th. Barclays dropped their price objective on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. Finally, BMO Capital Markets increased their target price on shares of Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $109.45.

Entergy Company 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.