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

Lazard Asset Management LLC decreased its position in shares of Entergy Corporation (NYSE:ETR) by 24.6% during the 1st quarter, Holdings Channel reports. The fund owned 322,937 shares of the utilities provider’s stock after selling 105,605 shares during the quarter. Lazard Asset Management LLC’s holdings in Entergy were worth $36,285,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dynamic Wealth Strategies LLC bought a new stake in Entergy in the first quarter valued at approximately $30,000. Fairway Wealth LLC bought a new position in shares of Entergy during the first quarter worth $30,000. United Community Bank grew its holdings in shares of Entergy by 806.7% in the 4th quarter. United Community Bank now owns 272 shares of the utilities provider’s stock valued at $25,000 after buying an additional 242 shares during the period. Washington Trust Advisors Inc. grew its holdings in shares of Entergy by 119.4% in the 4th quarter. Washington Trust Advisors Inc. now owns 283 shares of the utilities provider’s stock valued at $26,000 after buying an additional 154 shares during the period. Finally, Union Savings Bank bought a new stake in shares of Entergy in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Stock Performance

ETR opened at $112.60 on Wednesday. The company has a market capitalization of $51.56 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 1.94 and a beta of 0.50. The business’s 50-day moving average price is $112.54 and its two-hundred day moving average price is $108.09. Entergy Corporation has a 1 year low of $86.40 and a 1 year high of $118.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.96 and a quick ratio of 0.73.

Entergy (NYSE:ETR) last posted 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. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Entergy had a return on equity of 10.75% and a net margin of 13.48%.During the same period in the prior year, the firm earned $0.82 earnings per share. Equities analysts expect that Entergy Corporation will post 4.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on ETR. KeyCorp reaffirmed an “overweight” rating and set a $123.00 price objective (up from $118.00) on shares of Entergy in a research note on Tuesday, April 21st. UBS Group reissued a “buy” rating and issued a $135.00 target price (up from $131.00) on shares of Entergy in a research note on Thursday, April 30th. Morgan Stanley set a $109.00 price target on Entergy in a report on Wednesday, July 22nd. Wells Fargo & Company lifted their price objective on Entergy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Seaport Research Partners cut Entergy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Seventeen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.05.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 10,638 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $110.00, for a total value of $1,170,180.00. Following the sale, the insider owned 14,182 shares in the company, valued at approximately $1,560,020. The trade was a 42.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.21% of the company’s stock.

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.