First Citizens Bank & Trust Co. Reduces Stock Position in Entergy Corporation $ETR

First Citizens Bank & Trust Co. lessened its stake in shares of Entergy Corporation (NYSE:ETR) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,513 shares of the utilities provider’s stock after selling 877 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Entergy were worth $957,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ETR. DekaBank Deutsche Girozentrale boosted its holdings in shares of Entergy by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 41,397 shares of the utilities provider’s stock worth $3,377,000 after buying an additional 118 shares during the last quarter. My Legacy Advisors LLC boosted its holdings in shares of Entergy by 0.8% in the second quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider’s stock worth $1,361,000 after buying an additional 128 shares during the last quarter. Mattson Financial Services LLC boosted its holdings in shares of Entergy by 100.0% in the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider’s stock worth $26,000 after buying an additional 150 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Entergy by 18.6% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider’s stock worth $90,000 after buying an additional 165 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in shares of Entergy by 1.8% in the first quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider’s stock worth $854,000 after buying an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Activity

In other news, insider Haley Fisackerly sold 4,463 shares of Entergy stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the sale, the insider owned 3,318 shares in the company, valued at $300,279. This trade represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ETR shares. BMO Capital Markets reissued an “outperform” rating and issued a $104.00 price objective (up previously from $96.00) on shares of Entergy in a report on Tuesday, October 14th. BTIG Research raised shares of Entergy to a “strong-buy” rating in a report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Entergy in a report on Wednesday, October 8th. Scotiabank set a $105.00 price target on shares of Entergy and gave the company an “outperform” rating in a report on Friday, October 3rd. Finally, Bank of America lifted their price target on shares of Entergy from $88.00 to $97.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $99.00.

Entergy Trading Up 1.0%

Entergy stock opened at $96.62 on Friday. The stock has a market cap of $43.13 billion, a P/E ratio of 24.06, a PEG ratio of 2.41 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. Entergy Corporation has a 1 year low of $66.85 and a 1 year high of $98.58. The firm’s 50 day moving average price is $91.61 and its 200-day moving average price is $86.59.

Entergy (NYSE:ETR) last released its quarterly earnings data on Friday, July 8th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter. The firm had revenue of $2.37 billion for the quarter. Entergy had a net margin of 14.35% and a return on equity of 11.52%. On average, equities analysts predict that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Company 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.