PNC Financial Services Group Inc. Acquires 1,025 Shares of Entergy Corporation (NYSE:ETR)

PNC Financial Services Group Inc. boosted its holdings in shares of Entergy Corporation (NYSE:ETR) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,901 shares of the utilities provider’s stock after buying an additional 1,025 shares during the period. PNC Financial Services Group Inc.’s holdings in Entergy were worth $11,832,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC acquired a new stake in shares of Entergy in the 2nd quarter worth about $25,000. Cetera Trust Company N.A purchased a new stake in shares of Entergy in the third quarter worth approximately $29,000. Fortitude Family Office LLC boosted its position in shares of Entergy by 423.8% during the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after buying an additional 178 shares during the last quarter. American National Bank grew its holdings in Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after buying an additional 134 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in Entergy during the third quarter worth $31,000. 88.07% of the stock is owned by institutional investors.

Entergy Stock Down 0.3 %

ETR stock opened at $151.06 on Friday. Entergy Corporation has a fifty-two week low of $96.15 and a fifty-two week high of $156.85. The stock has a fifty day moving average of $137.74 and a 200-day moving average of $121.50. The company has a market capitalization of $32.39 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.50 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89.

Entergy (NYSE:ETR) last posted its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the company earned $3.27 earnings per share. As a group, equities research analysts predict that Entergy Corporation will post 7.21 earnings per share for the current year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This is a boost from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a yield of 3.18%. Entergy’s payout ratio is presently 58.47%.

Insiders Place Their Bets

In related news, CEO Andrew S. Marsh sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $120.03, for a total transaction of $72,018.00. Following the sale, the chief executive officer now owns 150,731 shares of the company’s stock, valued at approximately $18,092,241.93. This represents a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Haley Fisackerly sold 4,134 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total transaction of $616,090.02. Following the completion of the sale, the insider now owns 2,016 shares in the company, valued at $300,444.48. This represents a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,472 shares of company stock worth $5,076,328 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

ETR has been the topic of a number of analyst reports. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $138.00 to $154.00 in a report on Monday, November 4th. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Scotiabank increased their price objective on shares of Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. UBS Group lifted their target price on shares of Entergy from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, Mizuho upped their target price on Entergy from $138.00 to $165.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Five 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.42.

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.