Entergy Corporation (NYSE:ETR) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its position in Entergy Corporation (NYSE:ETR) by 96.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,615 shares of the utilities provider’s stock after selling 106,979 shares during the period. Pzena Investment Management LLC’s holdings in Entergy were worth $274,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fortis Group Advisors LLC lifted its stake 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 buying an additional 172 shares during the last quarter. NBT Bank N A NY increased its holdings in shares of Entergy by 100.0% in the 4th 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 period. Legacy Investment Solutions LLC purchased a new stake in Entergy in the 3rd quarter valued at $27,000. Duncker Streett & Co. Inc. raised its position in Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares during the last quarter. Finally, Riverview Trust Co boosted its stake in Entergy by 100.0% during the 4th quarter. Riverview Trust Co now owns 364 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 182 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETR has been the subject of a number of research reports. LADENBURG THALM/SH SH raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 target price for the company in a report on Thursday, January 30th. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. BMO Capital Markets increased their price objective on Entergy from $79.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Wells Fargo & Company boosted their target price on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Scotiabank decreased their price target on Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.11.

Insiders Place Their Bets

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the completion of the transaction, the insider now owns 3,952 shares in the company, valued at $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.39% of the stock is owned by company insiders.

Entergy Stock Performance

NYSE:ETR opened at $82.31 on Wednesday. The firm’s fifty day simple moving average is $81.62 and its 200-day simple moving average is $73.81. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The stock has a market cap of $35.43 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. Entergy Corporation has a fifty-two week low of $50.19 and a fifty-two week high of $88.38.

Entergy (NYSE:ETR) last issued its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the business posted $0.26 earnings per share. Analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 2.92%. Entergy’s dividend payout ratio is presently 98.77%.

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.