Channing Capital Management LLC Trims Position in Entergy Co. (NYSE:ETR)

Channing Capital Management LLC reduced its stake in Entergy Co. (NYSE:ETR) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,515 shares of the utilities provider’s stock after selling 560 shares during the period. Channing Capital Management LLC’s holdings in Entergy were worth $6,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of Entergy by 157.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 270 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 165 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Entergy in the 3rd quarter worth $32,000. Fortis Group Advisors LLC purchased a new position in Entergy during the 3rd quarter worth $32,000. CVA Family Office LLC acquired a new position in Entergy during the 4th quarter valued at about $41,000. Finally, Millburn Ridgefield Corp purchased a new stake in Entergy in the third quarter valued at about $43,000. Institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

ETR traded up $0.99 during trading on Monday, reaching $109.07. The company’s stock had a trading volume of 1,051,950 shares, compared to its average volume of 1,422,477. The company has a market cap of $23.29 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 2.01 and a beta of 0.69. The firm has a fifty day simple moving average of $104.02 and a two-hundred day simple moving average of $101.21. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $109.29. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.68.

Entergy (NYSE:ETR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a net margin of 17.75% and a return on equity of 10.20%. The company had revenue of $31.17 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the company earned $1.14 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts anticipate that Entergy Co. will post 7.22 EPS for the current year.

Entergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be paid a $1.13 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.14%. Entergy’s dividend payout ratio (DPR) is 45.34%.

Insider Transactions at Entergy

In other news, insider Deanna D. Rodriguez sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $101.23, for a total value of $151,845.00. Following the transaction, the insider now directly owns 3,442 shares in the company, valued at approximately $348,433.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Deanna D. Rodriguez sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $101.23, for a total value of $151,845.00. Following the completion of the transaction, the insider now owns 3,442 shares of the company’s stock, valued at $348,433.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $102.84, for a total value of $874,140.00. Following the transaction, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $1,226,685 in the last 90 days. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $117.00 target price on shares of Entergy in a research note on Monday, February 26th. Scotiabank reduced their price objective on Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. KeyCorp upped their target price on Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Barclays reduced their price target on Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Finally, BMO Capital Markets raised their price target on shares of Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.45.

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.