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

LSV Asset Management reduced its stake in Entergy Co. (NYSE:ETR) by 7.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 224,100 shares of the utilities provider’s stock after selling 18,400 shares during the quarter. LSV Asset Management’s holdings in Entergy were worth $23,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ETR. Tidemark LLC bought a new position in Entergy in the 4th quarter valued at $25,000. OLD Point Trust & Financial Services N A bought a new position in Entergy in the 4th quarter valued at $35,000. Newbridge Financial Services Group Inc. grew its stake in Entergy by 40.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 385 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 110 shares during the period. Venturi Wealth Management LLC grew its stake in Entergy by 134.3% in the 1st quarter. Venturi Wealth Management LLC now owns 396 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 227 shares during the period. Finally, Atlas Capital Advisors LLC grew its stake in Entergy by 182.9% in the 1st quarter. Atlas Capital Advisors LLC now owns 396 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 256 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ETR has been the subject of a number of recent analyst reports. 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 increased their price target on Entergy from $107.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Morgan Stanley cut their price target on Entergy from $103.00 to $98.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. KeyCorp increased their price target on Entergy from $112.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, BMO Capital Markets cut their price target on Entergy from $120.00 to $117.00 and set an “outperform” rating for the company in a research note on Monday. One equities research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $113.50.

Entergy Price Performance

NYSE ETR traded up $0.68 during trading hours on Friday, hitting $109.17. The company had a trading volume of 1,013,203 shares, compared to its average volume of 1,534,405. Entergy Co. has a 52 week low of $87.10 and a 52 week high of $114.28. The firm has a 50 day simple moving average of $108.67 and a 200 day simple moving average of $104.56. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69. The firm has a market capitalization of $23.31 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 2.00 and a beta of 0.71.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the business earned $1.14 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts expect that Entergy Co. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Entergy

In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $235,465.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Entergy news, insider Haley Fisackerly sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $110.23, for a total value of $165,345.00. Following the sale, the insider now owns 2,479 shares of the company’s stock, valued at approximately $273,260.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Reginald T. Jackson sold 9,229 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were 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 directly owns 2,166 shares in the company, valued at approximately $235,465.86. 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.