Truist Financial Corp Increases Stake in Entergy Corporation (NYSE:ETR)

Truist Financial Corp increased its position in shares of Entergy Corporation (NYSE:ETR) by 105.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,072,950 shares of the utilities provider’s stock after purchasing an additional 1,061,527 shares during the period. Truist Financial Corp’s holdings in Entergy were worth $157,171,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC raised its position in Entergy by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 3,427 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 69 shares in the last quarter. Acropolis Investment Management LLC raised its position in Entergy by 0.8% during the third quarter. Acropolis Investment Management LLC now owns 8,836 shares of the utilities provider’s stock valued at $1,163,000 after acquiring an additional 69 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in Entergy by 0.9% during the third quarter. Great Valley Advisor Group Inc. now owns 8,087 shares of the utilities provider’s stock valued at $1,065,000 after acquiring an additional 74 shares in the last quarter. Prossimo Advisors LLC raised its position in Entergy by 1.5% during the third quarter. Prossimo Advisors LLC now owns 5,971 shares of the utilities provider’s stock valued at $786,000 after acquiring an additional 90 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Entergy by 1.3% during the third quarter. Brown Brothers Harriman & Co. now owns 7,233 shares of the utilities provider’s stock valued at $952,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

ETR has been the subject of several recent research reports. Barclays lifted their price target on Entergy from $68.50 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a research report on Thursday, January 30th. UBS Group lifted their price target on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $58.00 to $75.00 in a research report on Monday, November 4th. Finally, StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.81.

Entergy Stock Down 0.7 %

Shares of ETR opened at $82.64 on Monday. 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 Corporation has a one year low of $48.93 and a one year high of $84.46. The stock has a market capitalization of $35.44 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.53 and a beta of 0.72. The stock has a 50 day moving average price of $78.32 and a 200 day moving average price of $70.73.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, February 10th. Entergy’s payout ratio is 58.47%.

Insider Buying and Selling

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $73.94, for a total transaction of $450,146.72. Following the completion of the sale, the insider now directly owns 3,952 shares in the company, valued at approximately $292,210.88. The trade was a 60.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by company insiders.

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.