Victory Capital Management Inc. Trims Holdings in Entergy Corporation (ETR)
Victory Capital Management Inc. cut its stake in Entergy Corporation (NYSE:ETR) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,092 shares of the utilities provider’s stock after selling 171 shares during the period. Victory Capital Management Inc.’s holdings in Entergy Corporation were worth $237,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its holdings in Entergy Corporation by 46.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,300 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 410 shares during the period. V Wealth Management LLC bought a new stake in Entergy Corporation in the 2nd quarter valued at $106,000. Parallel Advisors LLC boosted its holdings in Entergy Corporation by 291.6% in the 1st quarter. Parallel Advisors LLC now owns 2,377 shares of the utilities provider’s stock valued at $182,000 after purchasing an additional 1,770 shares during the period. Tiedemann Wealth Management LLC bought a new stake in Entergy Corporation in the 1st quarter valued at $203,000. Finally, ClariVest Asset Management LLC bought a new stake in Entergy Corporation in the 1st quarter valued at $205,000. 84.16% of the stock is owned by hedge funds and other institutional investors.
Shares of Entergy Corporation (NYSE ETR) opened at 77.80 on Thursday. The firm’s market cap is $13.97 billion. The firm has a 50-day moving average of $78.33 and a 200 day moving average of $77.11. Entergy Corporation has a 52-week low of $66.71 and a 52-week high of $81.83.
Entergy Corporation (NYSE:ETR) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $1.91. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. During the same quarter in the prior year, the business earned $3.16 earnings per share. On average, equities analysts predict that Entergy Corporation will post $6.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 10th were issued a $0.87 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.47%. Entergy Corporation’s dividend payout ratio (DPR) is currently -69.74%.
A number of equities analysts have recently commented on ETR shares. BidaskClub downgraded shares of Entergy Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Morgan Stanley raised their price objective on shares of Entergy Corporation from $82.00 to $84.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Entergy Corporation in a report on Friday, August 11th. Zacks Investment Research raised shares of Entergy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Wells Fargo & Company raised their price objective on shares of Entergy Corporation from $83.50 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $78.33.
In other news, insider Charles L. Rice, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $78.95, for a total value of $78,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Haley Fisackerly sold 500 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $77.17, for a total transaction of $38,585.00. The disclosure for this sale can be found here. Insiders sold 3,495 shares of company stock valued at $271,313 in the last three months. Company insiders own 0.24% of the company’s stock.
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About Entergy Corporation
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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