Knights of Columbus Asset Advisors LLC Reduces Stake in Entergy Corporation (NYSE:ETR)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Entergy Corporation by 15.2%, now holding 200,946 shares worth approximately $17.2 million.
• Entergy reported earnings of $0.82 per share for the last quarter, exceeding estimates, but revenue of $3.02 billion fell short of expectations of $3.13 billion.
• The consensus rating for Entergy stock is "Moderate Buy," with an average price target of $86.46 from multiple investment analysts.

Knights of Columbus Asset Advisors LLC lowered its stake in Entergy Corporation (NYSE:ETR - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,946 shares of the utilities provider's stock after selling 35,970 shares during the period. Entergy makes up approximately 1.2% of Knights of Columbus Asset Advisors LLC's investment portfolio, making the stock its 13th biggest position. Knights of Columbus Asset Advisors LLC's holdings in Entergy were worth $17,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in shares of Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after acquiring an additional 10,347,926 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Entergy by 71.4% during the fourth quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock valued at $976,895,000 after purchasing an additional 5,368,396 shares during the period. FMR LLC grew its holdings in shares of Entergy by 90.7% in the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock worth $956,273,000 after purchasing an additional 5,998,760 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Entergy by 66.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider's stock worth $837,216,000 after buying an additional 4,418,528 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Entergy by 106.2% during the 4th quarter. Geode Capital Management LLC now owns 10,236,816 shares of the utilities provider's stock valued at $774,103,000 after buying an additional 5,271,559 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Price Performance

Shares of ETR stock opened at $88.24 on Friday. Entergy Corporation has a fifty-two week low of $55.35 and a fifty-two week high of $89.35. The firm has a market capitalization of $38.01 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 2.40 and a beta of 0.59. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.55 and a current ratio of 0.82. The stock's 50-day simple moving average is $82.83 and its 200-day simple moving average is $82.68.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.22. Entergy had a return on equity of 11.43% and a net margin of 11.26%. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period last year, the business posted $0.54 earnings per share. As a group, equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ETR has been the subject of several research reports. Raymond James Financial initiated coverage on shares of Entergy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. JPMorgan Chase & Co. upped their target price on Entergy from $100.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. KeyCorp upped their target price on Entergy from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Barclays lowered their target price on Entergy from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Finally, Morgan Stanley cut their target price on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Entergy presently has a consensus rating of "Moderate Buy" and an average price target of $86.46.

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.

Want to see what other hedge funds are holding ETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entergy Corporation (NYSE:ETR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.