Lazard Asset Management LLC Sells 65,469 Shares of Entergy Corporation (NYSE:ETR)

Lazard Asset Management LLC lowered its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 27.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,658 shares of the utilities provider's stock after selling 65,469 shares during the period. Lazard Asset Management LLC's holdings in Entergy were worth $13,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ETR. Fortis Group Advisors LLC grew its position in Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. NBT Bank N A NY lifted its stake in Entergy by 100.0% in the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 170 shares during the last quarter. Duncker Streett & Co. Inc. lifted its stake in Entergy by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 179 shares during the last quarter. Sandy Spring Bank lifted its stake in Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 179 shares during the last quarter. Finally, Riverview Trust Co lifted its stake in Entergy by 100.0% in the fourth quarter. Riverview Trust Co now owns 364 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 182 shares during the last quarter. Institutional investors own 88.07% of the company's stock.

Entergy Stock Performance

NYSE:ETR traded up $1.28 during mid-day trading on Friday, reaching $83.10. 2,444,486 shares of the company's stock were exchanged, compared to its average volume of 3,693,014. Entergy Corporation has a one year low of $52.07 and a one year high of $88.38. The firm has a market capitalization of $35.80 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 2.34 and a beta of 0.62. The business's fifty day simple moving average is $83.03 and its two-hundred day simple moving average is $80.05. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.22. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the firm earned $0.54 earnings per share. Analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy's dividend payout ratio is 77.92%.

Analyst Upgrades and Downgrades

A number of analysts have commented on ETR shares. Morgan Stanley reiterated an "overweight" rating on shares of Entergy in a research note on Wednesday, April 23rd. BMO Capital Markets increased their price target on shares of Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. UBS Group increased their price target on shares of Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Wells Fargo & Company increased their price target on shares of Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Finally, LADENBURG THALM/SH SH upgraded shares of Entergy from a "neutral" rating to a "buy" rating and set a $86.50 target price for the company in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Entergy has a consensus rating of "Moderate Buy" and an average target price of $86.04.

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.