Victory Capital Management Inc. Cuts Stake in Entergy Co. (NYSE:ETR)

Victory Capital Management Inc. lowered its position in shares of Entergy Co. (NYSE:ETR) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 334,382 shares of the utilities provider’s stock after selling 34,995 shares during the quarter. Victory Capital Management Inc. owned 0.16% of Entergy worth $33,836,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ETR. Wealth Alliance boosted its position in shares of Entergy by 1.2% in the fourth quarter. Wealth Alliance now owns 8,201 shares of the utilities provider’s stock worth $830,000 after acquiring an additional 101 shares during the last quarter. Marino Stram & Associates LLC boosted its position in shares of Entergy by 1.8% in the fourth quarter. Marino Stram & Associates LLC now owns 5,778 shares of the utilities provider’s stock worth $585,000 after acquiring an additional 102 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Entergy by 5.1% in the third quarter. Brown Advisory Inc. now owns 2,353 shares of the utilities provider’s stock worth $218,000 after acquiring an additional 115 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Entergy by 1.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,657 shares of the utilities provider’s stock worth $674,000 after acquiring an additional 124 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in shares of Entergy by 1.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 7,945 shares of the utilities provider’s stock worth $804,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Entergy

In related news, EVP Marcus V. Brown sold 8,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $102.84, for a total value of $874,140.00. Following the sale, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Entergy news, EVP Marcus V. Brown sold 8,500 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $102.84, for a total transaction of $874,140.00. Following the sale, the executive vice president now directly owns 9,911 shares of the company’s stock, valued at $1,019,247.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $100.35, for a total transaction of $200,700.00. Following the sale, the executive vice president now directly owns 16,037 shares in the company, valued at $1,609,312.95. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $1,226,685 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Entergy Trading Up 0.9 %

ETR opened at $109.03 on Tuesday. The firm has a market capitalization of $23.28 billion, a P/E ratio of 10.94, a P/E/G ratio of 2.01 and a beta of 0.69. The firm’s 50 day moving average is $104.20 and its 200-day moving average is $101.32. Entergy Co. has a 52-week low of $87.10 and a 52-week high of $109.38. 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 posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The firm had revenue of $31.17 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Entergy had a net margin of 17.75% and a return on equity of 10.20%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS. Analysts expect that Entergy Co. will post 7.22 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 2nd will be issued a $1.13 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $4.52 annualized dividend and a yield of 4.15%. Entergy’s dividend payout ratio is presently 45.34%.

Entergy Company 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.