Entergy Corporation (NYSE:ETR) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its position in shares of Entergy Corporation (NYSE:ETR - Free Report) by 105.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,072,950 shares of the utilities provider's stock after buying an additional 1,061,527 shares during the quarter. Truist Financial Corp owned about 0.48% of Entergy worth $157,171,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in Entergy by 1.1% during the 3rd quarter. State Street Corp now owns 11,408,776 shares of the utilities provider's stock valued at $1,501,509,000 after acquiring an additional 128,667 shares during the period. FMR LLC grew its stake in Entergy by 5.0% during the 3rd quarter. FMR LLC now owns 6,613,647 shares of the utilities provider's stock worth $870,422,000 after buying an additional 315,750 shares during the last quarter. Franklin Resources Inc. grew its stake in 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 purchasing an additional 1,981,611 shares during the last quarter. Geode Capital Management LLC grew its stake in Entergy by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,965,257 shares of the utilities provider's stock valued at $651,206,000 after purchasing an additional 37,279 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Entergy by 60.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider's stock valued at $472,444,000 after purchasing an additional 1,354,355 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Entergy Stock Down 1.7 %

Shares of NYSE ETR traded down $1.51 during mid-day trading on Thursday, hitting $85.82. The company had a trading volume of 4,006,557 shares, compared to its average volume of 3,811,568. The company has a market capitalization of $36.80 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 2.67 and a beta of 0.72. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy Corporation has a 1-year low of $49.80 and a 1-year high of $88.38. The business's 50-day simple moving average is $79.01 and its 200 day simple moving average is $71.19.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings results 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. Entergy had a return on equity of 10.75% and a net margin of 8.90%. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $3.24 billion. During the same period last year, the firm earned $0.26 earnings per share. On average, analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, February 10th. Entergy's dividend payout ratio (DPR) is currently 98.77%.

Insider Transactions at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the transaction, the insider now owns 3,952 shares of the company's stock, valued at $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ETR shares. KeyCorp downgraded Entergy from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, December 4th. LADENBURG THALM/SH SH raised Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price target for the company in a report on Thursday, January 30th. Barclays upped their price target on Entergy from $68.50 to $76.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. UBS Group upped their price target on Entergy from $72.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Finally, StockNews.com raised Entergy from a "sell" rating to a "hold" rating in a report on Sunday, December 29th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $82.14.

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.