Truist Financial Corp Increases Stake in Entergy Co. (NYSE:ETR)

Truist Financial Corp grew its position in shares of Entergy Co. (NYSE:ETR) by 312.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 573,023 shares of the utilities provider’s stock after buying an additional 434,046 shares during the quarter. Truist Financial Corp owned 0.27% of Entergy worth $57,984,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Caprock Group LLC increased its holdings in shares of Entergy by 4.9% in the 3rd quarter. Caprock Group LLC now owns 4,024 shares of the utilities provider’s stock valued at $372,000 after purchasing an additional 189 shares in the last quarter. Czech National Bank increased its holdings in shares of Entergy by 47.6% in the 3rd quarter. Czech National Bank now owns 36,958 shares of the utilities provider’s stock valued at $3,419,000 after purchasing an additional 11,927 shares in the last quarter. My Legacy Advisors LLC increased its holdings in shares of Entergy by 5.9% in the 3rd quarter. My Legacy Advisors LLC now owns 8,997 shares of the utilities provider’s stock valued at $840,000 after purchasing an additional 500 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Entergy by 4,752.9% in the 3rd quarter. Brookstone Capital Management now owns 129,572 shares of the utilities provider’s stock valued at $12,098,000 after purchasing an additional 126,902 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Entergy by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 38,239 shares of the utilities provider’s stock valued at $3,537,000 after purchasing an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Marcus V. Brown sold 8,500 shares of the firm’s stock in a transaction that occurred 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 through this hyperlink. In related news, insider Deanna D. Rodriguez sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $101.23, for a total value of $151,845.00. Following the sale, the insider now directly owns 3,442 shares of the company’s stock, valued at $348,433.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marcus V. Brown sold 8,500 shares of the firm’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 transaction of $874,140.00. Following the completion of the sale, the executive vice president now directly owns 9,911 shares in the company, valued at $1,019,247.24. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $1,226,685 in the last ninety days. Insiders own 0.39% of the company’s stock.

Entergy Price Performance

Entergy stock opened at $106.50 on Friday. Entergy Co. has a 12-month low of $87.10 and a 12-month high of $108.81. The stock has a market capitalization of $22.71 billion, a P/E ratio of 10.68, a P/E/G ratio of 2.10 and a beta of 0.71. The firm’s 50-day moving average is $103.41 and its two-hundred day moving average is $100.72. 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 (NYSE:ETR) last released its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.36). Entergy had a return on equity of 10.20% and a net margin of 17.75%. The firm had revenue of $31.17 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business earned $1.14 earnings per share. Entergy’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts predict that Entergy Co. will post 7.22 earnings per share for the current year.

Entergy Announces Dividend

The company also recently declared 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 dividend yield of 4.24%. Entergy’s dividend payout ratio is currently 45.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ETR shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $117.00 price target on shares of Entergy in a report on Monday, February 26th. Barclays cut their price target on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Scotiabank lowered their price objective on shares of Entergy from $111.00 to $104.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets increased their price objective on shares of Entergy from $110.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Finally, KeyCorp increased their price objective on shares of Entergy from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. 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 stock. According to MarketBeat.com, Entergy has a consensus rating of “Moderate Buy” and a consensus target price of $109.45.

About Entergy

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.