Entergy Co. (NYSE:ETR) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its stake in Entergy Co. (NYSE:ETR) by 312.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 573,023 shares of the utilities provider’s stock after buying an additional 434,046 shares during the quarter. Truist Financial Corp’s holdings in Entergy were worth $57,984,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. FMR LLC raised its position in Entergy by 64.4% in the third quarter. FMR LLC now owns 4,562,369 shares of the utilities provider’s stock worth $422,019,000 after acquiring an additional 1,787,977 shares in the last quarter. Bank of Nova Scotia raised its position in Entergy by 2,786.9% in the third quarter. Bank of Nova Scotia now owns 492,613 shares of the utilities provider’s stock worth $45,567,000 after acquiring an additional 475,549 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Entergy by 220.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 685,186 shares of the utilities provider’s stock worth $69,334,000 after acquiring an additional 471,291 shares in the last quarter. JPMorgan Chase & Co. raised its position in Entergy by 16.4% in the third quarter. JPMorgan Chase & Co. now owns 2,506,022 shares of the utilities provider’s stock worth $231,807,000 after acquiring an additional 352,847 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Entergy in the fourth quarter worth about $28,506,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. KeyCorp boosted their price target on shares of Entergy from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Scotiabank cut their price objective on Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada restated an “outperform” rating and set a $117.00 price objective on shares of Entergy in a report on Monday, February 26th. BMO Capital Markets boosted their price objective on Entergy from $110.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Finally, Barclays cut their price objective on Entergy from $108.00 to $107.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.45.

Insider Buying and Selling at Entergy

In related news, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the sale, the executive vice president now owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Marcus V. Brown sold 8,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $102.84, for a total value of $874,140.00. Following the completion of the sale, the executive vice president now owns 9,911 shares of the company’s stock, valued at approximately $1,019,247.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kimberly Cook-Nelson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $100.35, for a total value of $200,700.00. Following the completion of the sale, the executive vice president now directly owns 16,037 shares of the company’s stock, valued at approximately $1,609,312.95. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $1,226,685 in the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

Entergy Trading Down 1.0 %

NYSE:ETR opened at $106.50 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.32. Entergy Co. has a fifty-two week low of $87.10 and a fifty-two week high of $108.81. The stock’s 50-day moving average is $103.41 and its two-hundred day moving average is $100.72. The stock has a market cap of $22.71 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.10 and a beta of 0.71.

Entergy (NYSE:ETR) last released its earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share 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 business had revenue of $31.17 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the firm earned $1.14 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Entergy Co. will post 7.22 earnings per share for the current fiscal year.

Entergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $4.52 annualized dividend and a yield of 4.24%. Entergy’s dividend payout ratio (DPR) 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.