Lazard Asset Management LLC Has $36.28 Million Stake in Entergy Corporation $ETR

Key Points

• Lazard Asset Management cut its Entergy stake by 24.6% in the first quarter, selling 105,605 shares and retaining 322,937 shares valued at approximately $36.28 million. Institutional investors and hedge funds collectively own 88.07% of Entergy.
• Entergy exceeded quarterly expectations, reporting $0.86 in earnings per share versus the $0.84 consensus estimate and revenue of $3.19 billion, above expectations of $2.89 billion.
• Analysts remain broadly positive, with 17 Buy, two Hold and one Sell rating. The stock has a “Moderate Buy” consensus rating and an average price target of $121.05, compared with its recent price of $112.60.

Lazard Asset Management LLC decreased its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 24.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 322,937 shares of the utilities provider's stock after selling 105,605 shares during the period. Lazard Asset Management LLC owned 0.07% of Entergy worth $36,285,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETR. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Entergy by 3.6% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,623 shares of the utilities provider's stock valued at $295,000 after purchasing an additional 90 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Entergy by 9.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,096 shares of the utilities provider's stock worth $126,000 after acquiring an additional 92 shares during the period. Aristotle Capital Management LLC lifted its position in Entergy by 4.4% during the 4th quarter. Aristotle Capital Management LLC now owns 2,280 shares of the utilities provider's stock worth $211,000 after acquiring an additional 96 shares during the last quarter. Founders Financial Securities LLC boosted its holdings in Entergy by 2.5% during the first quarter. Founders Financial Securities LLC now owns 4,094 shares of the utilities provider's stock valued at $481,000 after acquiring an additional 101 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in shares of Entergy by 2.8% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,807 shares of the utilities provider's stock valued at $352,000 after purchasing an additional 102 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Performance

Shares of NYSE:ETR opened at $112.60 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.96 and a quick ratio of 0.73. The business's fifty day moving average price is $112.54 and its two-hundred day moving average price is $108.09. Entergy Corporation has a fifty-two week low of $86.40 and a fifty-two week high of $118.44. The stock has a market capitalization of $51.56 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 1.94 and a beta of 0.50.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. Entergy had a net margin of 13.48% and a return on equity of 10.75%. The firm had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $2.89 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. As a group, analysts predict that Entergy Corporation will post 4.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Entergy from $129.00 to $139.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Morgan Stanley set a $109.00 price objective on shares of Entergy in a research note on Wednesday, July 22nd. Wells Fargo & Company boosted their target price on shares of Entergy from $123.00 to $128.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Argus upped their target price on shares of Entergy from $100.00 to $118.00 and gave the company a "buy" rating in a research note on Monday, April 6th. Finally, Weiss Ratings downgraded shares of Entergy from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, July 20th. Seventeen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $121.05.

Insider Transactions at Entergy

In other news, insider Haley Fisackerly sold 10,638 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $110.00, for a total transaction of $1,170,180.00. Following the transaction, the insider directly owned 14,182 shares in the company, valued at approximately $1,560,020. This represents a 42.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is currently owned by company insiders.

Entergy Profile

Entergy Corporation NYSE: ETR is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company's operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy's generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.

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