LSV Asset Management Sells 36,280 Shares of Entergy Corporation (NYSE:ETR)

Key Points

• LSV Asset Management reduced its stake in Entergy Corporation by 21.0%, resulting in holdings of 136,720 shares worth approximately $11.7 million as of its latest SEC filing.
• Institutional investors now own over 88% of Entergy's stock, with major increases from Bank of America (142.8% increase) and Ameriprise Financial (71.4% increase) in the last quarter.
• Entergy recently declared a quarterly dividend of $0.60 per share, which will be paid on September 2nd, representing an annual yield of 2.7% and a payout ratio of 59.85%.

LSV Asset Management lowered its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 21.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,720 shares of the utilities provider's stock after selling 36,280 shares during the period. LSV Asset Management's holdings in Entergy were worth $11,688,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ETR. Commerce Bank grew its stake in Entergy by 7.8% in the 1st quarter. Commerce Bank now owns 28,913 shares of the utilities provider's stock worth $2,472,000 after acquiring an additional 2,091 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Entergy during the 1st quarter worth about $6,258,000. US Bancorp DE grew its holdings in Entergy by 0.9% in the first quarter. US Bancorp DE now owns 60,817 shares of the utilities provider's stock valued at $5,199,000 after purchasing an additional 521 shares during the period. Nicolet Advisory Services LLC boosted its holdings in shares of Entergy by 65.3% in the 1st quarter. Nicolet Advisory Services LLC now owns 5,614 shares of the utilities provider's stock valued at $451,000 after purchasing an additional 2,218 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Entergy in the 1st quarter worth $2,438,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ETR. JPMorgan Chase & Co. lifted their price objective on Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Barclays dropped their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. KeyCorp reaffirmed an "overweight" rating and set a $96.00 price target (up from $88.00) on shares of Entergy in a research report on Thursday, July 31st. Mizuho set a $97.00 price objective on Entergy and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, BMO Capital Markets upped their target price on Entergy from $89.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.07.

Entergy Price Performance

NYSE:ETR traded down $0.11 during midday trading on Wednesday, hitting $90.29. 2,677,337 shares of the stock were exchanged, compared to its average volume of 2,877,562. The business has a 50-day moving average price of $83.88 and a two-hundred day moving average price of $83.34. The company has a market capitalization of $40.31 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 2.46 and a beta of 0.57. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. Entergy Corporation has a one year low of $57.58 and a one year high of $92.40.

Entergy (NYSE:ETR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.91 by $0.14. Entergy had a return on equity of 11.52% and a net margin of 14.35%. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the business posted $1.92 earnings per share. Sell-side analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. Entergy's payout ratio is currently 59.85%.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the sale, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company's stock.

About Entergy

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.