Entergy Corporation $ETR Shares Bought by Truist Financial Corp

Truist Financial Corp increased its position in Entergy Corporation (NYSE:ETR) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,238,696 shares of the utilities provider’s stock after buying an additional 106,210 shares during the period. Truist Financial Corp’s holdings in Entergy were worth $208,624,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC raised its holdings in Entergy by 5,466.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 334 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 328 shares during the last quarter. GoalVest Advisory LLC grew its position in shares of Entergy by 5,733.3% in the second quarter. GoalVest Advisory LLC now owns 350 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 344 shares during the period. Atlantic Union Bankshares Corp acquired a new position in Entergy in the second quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new position in Entergy during the second quarter worth about $31,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Entergy during the third quarter worth about $43,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Entergy Trading Up 1.7%

Shares of ETR opened at $96.56 on Wednesday. Entergy Corporation has a 12 month low of $75.55 and a 12 month high of $98.58. The stock’s 50-day moving average is $93.81 and its two-hundred day moving average is $92.34. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.48. The stock has a market cap of $43.13 billion, a PE ratio of 23.84, a P/E/G ratio of 2.12 and a beta of 0.66.

Entergy (NYSE:ETR) last released its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.32 by $0.21. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.58 billion. Entergy had a return on equity of 11.53% and a net margin of 14.26%.During the same period in the previous year, the company posted $2.99 EPS. Equities analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, November 13th. This is an increase from Entergy’s previous quarterly dividend of $0.60. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.7%. Entergy’s dividend payout ratio is presently 63.21%.

Insider Transactions at Entergy

In other Entergy news, insider Haley Fisackerly sold 5,136 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $96.50, for a total value of $495,624.00. Following the completion of the transaction, the insider directly owned 7,899 shares of the company’s stock, valued at $762,253.50. This represents a 39.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ralph Lewis Ropp bought 1,000 shares of the stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average price of $96.69 per share, with a total value of $96,690.00. Following the completion of the purchase, the director directly owned 1,050 shares of the company’s stock, valued at approximately $101,524.50. This represents a 2,000.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 10,179 shares of company stock valued at $981,707. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ETR shares. TD Cowen began coverage on shares of Entergy in a research note on Friday, January 9th. They set a “buy” rating and a $108.00 price objective for the company. Evercore ISI upped their price target on shares of Entergy from $98.00 to $101.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. KeyCorp set a $102.00 price target on shares of Entergy and gave the stock an “overweight” rating in a research note on Friday, December 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $112.00 price target on shares of Entergy in a report on Friday. Finally, Siebert Williams Shank initiated coverage on Entergy in a report on Tuesday, January 20th. They set a “buy” rating and a $109.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.87.

About Entergy

Entergy Corporation (NYSE:ETR) is an integrated energy company headquartered in New Orleans, Louisiana, that generates, transmits and distributes electricity. The company’s operations combine regulated utility services with competitive power production, supplying retail electricity to residential, commercial and industrial customers while also participating in wholesale energy markets. Entergy’s generation fleet includes nuclear, natural gas, hydropower and other resources, and it operates a network of transmission and distribution assets to deliver power to end users.

Entergy conducts its regulated utility business through state-based operating subsidiaries that serve customers across parts of Arkansas, Louisiana, Mississippi and southeast Texas.