Truist Financial Corp Acquires 145,230 Shares of Entergy Corporation (NYSE:ETR)

Truist Financial Corp increased its holdings in shares of Entergy Corporation (NYSE:ETR) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,218,180 shares of the utilities provider’s stock after buying an additional 145,230 shares during the quarter. Truist Financial Corp’s holdings in Entergy were worth $189,632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Financial Advisors Inc. lifted its position in shares of Entergy by 60.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider’s stock worth $1,219,000 after buying an additional 6,028 shares during the last quarter. Bank of Montreal Can raised its position in Entergy by 74.3% in the fourth quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider’s stock valued at $50,869,000 after purchasing an additional 286,005 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Entergy in the fourth quarter valued at about $9,135,000. Horizon Investment Services LLC raised its position in Entergy by 95.3% in the fourth quarter. Horizon Investment Services LLC now owns 4,319 shares of the utilities provider’s stock valued at $328,000 after purchasing an additional 2,108 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Entergy by 25.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 78,470 shares of the utilities provider’s stock valued at $6,708,000 after purchasing an additional 15,892 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ETR has been the subject of several research reports. Morgan Stanley dropped their target price on Entergy from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 18th. Barclays increased their target price on Entergy from $88.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. KeyCorp upgraded Entergy from a “sector weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Wednesday, May 14th. BMO Capital Markets increased their target price on Entergy from $89.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, UBS Group increased their target price on Entergy from $86.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.25.

Entergy Trading Up 1.0%

NYSE ETR opened at $82.15 on Friday. The business has a 50 day simple moving average of $82.49 and a 200 day simple moving average of $81.83. Entergy Corporation has a one year low of $52.07 and a one year high of $88.38. The stock has a market capitalization of $35.39 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.23 and a beta of 0.59. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.82 and a quick ratio of 0.55.

Entergy (NYSE:ETR) last released its earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.60 by $0.22. Entergy had a return on equity of 11.43% and a net margin of 11.26%. The business had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the firm posted $0.54 earnings per share. Research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 2nd were paid a dividend of $0.60 per share. The ex-dividend date was Friday, May 2nd. This represents a $2.40 annualized dividend and a yield of 2.92%. Entergy’s dividend payout ratio is currently 77.92%.

About Entergy

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.