Channing Capital Management LLC Has $7.87 Million Holdings in Entergy Corporation (NYSE:ETR)

Channing Capital Management LLC increased its holdings in Entergy Corporation (NYSE:ETR) by 55.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,781 shares of the utilities provider’s stock after buying an additional 36,828 shares during the period. Channing Capital Management LLC’s holdings in Entergy were worth $7,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of Entergy by 53.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after acquiring an additional 1,981,611 shares during the period. Jennison Associates LLC lifted its position in Entergy by 139.5% during the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after purchasing an additional 1,411,473 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Entergy by 105.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,748,828 shares of the utilities provider’s stock worth $208,416,000 after purchasing an additional 1,408,476 shares during the period. JPMorgan Chase & Co. increased its holdings in Entergy by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock valued at $472,444,000 after buying an additional 1,354,355 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Entergy in the 4th quarter valued at about $101,133,000. 88.07% of the stock is currently owned by institutional investors.

Insider Activity at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the transaction, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ETR shares. Scotiabank reduced their price target on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. KeyCorp downgraded Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. BMO Capital Markets raised their price objective on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Evercore ISI boosted their target price on Entergy from $75.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.14.

Entergy Trading Down 1.3 %

ETR opened at $80.29 on Tuesday. The company’s 50 day moving average price is $81.49 and its two-hundred day moving average price is $73.65. The firm has a market capitalization of $34.56 billion, a price-to-earnings ratio of 32.97, a PEG 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. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59.

Entergy (NYSE:ETR) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Monday, February 10th. Entergy’s dividend payout ratio is currently 98.77%.

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.