Truist Financial Corp Raises Holdings in Entergy Co. (NYSE:ETR)

Truist Financial Corp boosted its stake in Entergy Co. (NYSE:ETR) by 42.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 906,795 shares of the utilities provider’s stock after purchasing an additional 268,004 shares during the period. Truist Financial Corp owned about 0.42% of Entergy worth $97,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System grew its stake in shares of Entergy by 6.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 234,595 shares of the utilities provider’s stock worth $25,275,000 after purchasing an additional 13,882 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Entergy by 11.1% during the fourth quarter. Cetera Advisor Networks LLC now owns 55,261 shares of the utilities provider’s stock valued at $5,592,000 after buying an additional 5,509 shares during the period. Groupama Asset Managment purchased a new position in shares of Entergy during the fourth quarter valued at approximately $15,783,000. Acadian Asset Management LLC raised its holdings in shares of Entergy by 55.4% during the first quarter. Acadian Asset Management LLC now owns 14,877 shares of the utilities provider’s stock valued at $1,571,000 after acquiring an additional 5,303 shares in the last quarter. Finally, Viking Fund Management LLC lifted its stake in Entergy by 6.3% in the first quarter. Viking Fund Management LLC now owns 125,600 shares of the utilities provider’s stock worth $13,273,000 after acquiring an additional 7,400 shares during the period. Institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Shares of NYSE ETR opened at $132.94 on Wednesday. The company has a 50 day moving average of $121.45 and a 200 day moving average of $112.30. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Entergy Co. has a twelve month low of $87.10 and a twelve month high of $133.38. The firm has a market cap of $28.39 billion, a P/E ratio of 13.33, a PEG ratio of 2.46 and a beta of 0.73.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.16. Entergy had a return on equity of 10.10% and a net margin of 14.75%. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the company posted $1.84 earnings per share. As a group, research 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 was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th were paid a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.40%. Entergy’s dividend payout ratio is presently 45.34%.

Analyst Ratings Changes

ETR has been the subject of several research reports. BMO Capital Markets upped their price objective on shares of Entergy from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Morgan Stanley raised their price objective on shares of Entergy from $109.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Argus upgraded Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Bank of America raised their target price on Entergy from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, UBS Group upped their price target on Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and an average price target of $128.58.

Insider Activity

In other Entergy news, insider Eliecer Viamontes sold 5,166 shares of Entergy stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the sale, the insider now owns 5,117 shares of the company’s stock, valued at approximately $614,040. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Entergy news, CEO Andrew S. Marsh sold 600 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total value of $72,018.00. Following the transaction, the chief executive officer now owns 150,731 shares of the company’s stock, valued at $18,092,241.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eliecer Viamontes sold 5,166 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $120.00, for a total value of $619,920.00. Following the completion of the transaction, the insider now directly owns 5,117 shares in the company, valued at $614,040. The disclosure for this sale can be found here. Insiders sold 50,810 shares of company stock valued at $6,140,626 over the last three months. Insiders own 0.39% of the company’s stock.

Entergy 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.