Truist Financial Corp Acquires 21,410 Shares of Entergy Co. (NYSE:ETR)

Truist Financial Corp raised its holdings in shares of Entergy Co. (NYSE:ETR) by 122.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,877 shares of the utilities provider’s stock after purchasing an additional 21,410 shares during the quarter. Truist Financial Corp’s holdings in Entergy were worth $3,882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Inspire Advisors LLC purchased a new position in Entergy in the fourth quarter valued at about $32,000. Truvestments Capital LLC purchased a new position in Entergy in the fourth quarter valued at about $34,000. Fortis Group Advisors LLC purchased a new position in Entergy in the third quarter valued at about $33,000. Tompkins Financial Corp purchased a new position in Entergy in the fourth quarter valued at about $35,000. Finally, Hoover Financial Advisors Inc. purchased a new position in Entergy in the fourth quarter valued at about $36,000. Institutional investors own 84.58% of the company’s stock.

Shares of NYSE ETR opened at $101.14 on Friday. The business’s 50 day moving average price is $94.80 and its 200 day moving average price is $99.81. The firm has a market cap of $20.34 billion, a P/E ratio of 14.68, a P/E/G ratio of 2.93 and a beta of 0.50. Entergy Co. has a 52 week low of $85.78 and a 52 week high of $113.36. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 1.82.

Entergy (NYSE:ETR) last issued its earnings results on Tuesday, February 23rd. The utilities provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.04. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.95 billion. Entergy had a return on equity of 11.01% and a net margin of 13.75%. During the same quarter in the prior year, the firm earned $0.68 earnings per share. As a group, research analysts expect that Entergy Co. will post 5.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $3.80 dividend on an annualized basis and a yield of 3.76%. Entergy’s dividend payout ratio is currently 70.37%.

In other Entergy news, insider Haley Fisackerly sold 2,100 shares of the company’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $89.45, for a total value of $187,845.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Andrew S. Marsh sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, January 21st. The stock was sold at an average price of $94.32, for a total value of $377,280.00. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

ETR has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on Entergy from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 25th. Evercore ISI upgraded shares of Entergy from an “in-line” rating to an “outperform” rating in a report on Thursday, January 21st. Mizuho upped their price objective on shares of Entergy from $105.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 30th. Finally, KeyCorp restated a “sector weight” rating on shares of Entergy in a report on Monday, March 15th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $113.58.

About Entergy

Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. The company generates electricity through gas/oil, nuclear, coal, hydro, and solar power sources. It operates in two segments, Utility and Entergy Wholesale Commodities.

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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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