Entergy Corporation $ETR Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp has reduced its holdings in Entergy Corporation by 3.9%, owning approximately 0.50% of the company, valued at $177.25 million.
• Entergy recently reported earnings per share of $1.05, exceeding analysts' expectations, but had a revenue of $3.02 billion which fell short of the $3.11 billion estimate.
• The company announced a quarterly dividend of $0.60 per share, resulting in an annualized yield of 2.6%.

Truist Financial Corp lessened its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,132,486 shares of the utilities provider's stock after selling 85,694 shares during the quarter. Truist Financial Corp owned approximately 0.50% of Entergy worth $177,252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. My Legacy Advisors LLC boosted its holdings in shares of Entergy by 0.8% in the 2nd quarter. My Legacy Advisors LLC now owns 16,576 shares of the utilities provider's stock valued at $1,361,000 after buying an additional 128 shares during the period. Acropolis Investment Management LLC lifted its holdings in Entergy by 0.7% in the first quarter. Acropolis Investment Management LLC now owns 17,954 shares of the utilities provider's stock worth $1,535,000 after acquiring an additional 129 shares during the last quarter. Mattson Financial Services LLC boosted its stake in Entergy by 100.0% in the first quarter. Mattson Financial Services LLC now owns 300 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 150 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Entergy by 18.6% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,050 shares of the utilities provider's stock valued at $90,000 after purchasing an additional 165 shares during the last quarter. Finally, Horizon Investments LLC raised its position in shares of Entergy by 1.8% during the 1st quarter. Horizon Investments LLC now owns 10,060 shares of the utilities provider's stock worth $854,000 after purchasing an additional 176 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Entergy Trading Down 0.4%

Entergy stock opened at $93.18 on Wednesday. Entergy Corporation has a 12-month low of $64.38 and a 12-month high of $93.92. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.52. The stock has a market capitalization of $41.60 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The firm has a 50 day simple moving average of $89.37 and a 200-day simple moving average of $85.08.

Entergy (NYSE:ETR - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.14. Entergy had a return on equity of 11.52% and a net margin of 14.35%.The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the firm posted $1.92 earnings per share. Entergy has set its FY 2025 guidance at 3.750-3.95 EPS. As a group, equities research analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 13th. Entergy's payout ratio is presently 59.85%.

Insider Buying and Selling

In other Entergy news, insider Haley Fisackerly sold 4,463 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $90.50, for a total value of $403,901.50. Following the completion of the sale, the insider directly owned 3,318 shares of the company's stock, valued at approximately $300,279. This represents a 57.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ETR shares. Morgan Stanley lowered their price objective on Entergy from $86.00 to $85.00 and set an "equal weight" rating for the company in a research note on Thursday, September 25th. Jefferies Financial Group assumed coverage on shares of Entergy in a report on Thursday, September 4th. They issued a "buy" rating and a $109.00 price objective on the stock. Barclays cut their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Raymond James Financial initiated coverage on shares of Entergy in a research report on Friday, June 13th. They issued a "market perform" rating for the company. Finally, KeyCorp reaffirmed an "overweight" rating and set a $96.00 price target (up previously from $88.00) on shares of Entergy in a report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $89.80.

Entergy 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.

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