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

Truist Financial Corp increased its stake in Entergy Corporation (NYSE:ETR - Free Report) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,218,180 shares of the utilities provider's stock after purchasing an additional 145,230 shares during the quarter. Truist Financial Corp owned approximately 0.51% of Entergy worth $189,632,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Entergy by 101.9% in the 4th quarter. Vanguard Group Inc. now owns 52,133,646 shares of the utilities provider's stock worth $3,952,773,000 after purchasing an additional 26,312,267 shares during the period. Bank of America Corp DE raised its holdings in Entergy by 142.8% in the 4th quarter. Bank of America Corp DE now owns 17,594,747 shares of the utilities provider's stock worth $1,334,034,000 after purchasing an additional 10,347,926 shares during the period. Ameriprise Financial Inc. raised its holdings in Entergy by 71.4% in the 4th quarter. Ameriprise Financial Inc. now owns 12,884,421 shares of the utilities provider's stock worth $976,895,000 after purchasing an additional 5,368,396 shares during the period. FMR LLC raised its holdings in Entergy by 90.7% in the 4th quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock worth $956,273,000 after purchasing an additional 5,998,760 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Entergy by 66.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,042,159 shares of the utilities provider's stock worth $837,216,000 after purchasing an additional 4,418,528 shares during the period. 88.07% of the stock is owned by institutional investors.

Entergy Trading Up 1.0%

NYSE ETR traded up $0.83 during trading hours on Friday, hitting $82.15. 1,120,750 shares of the company were exchanged, compared to its average volume of 3,575,509. The stock has a 50-day moving average price of $82.49 and a 200 day moving average price of $81.89. The company has a quick ratio of 0.55, a current ratio of 0.82 and a debt-to-equity ratio of 1.91. Entergy Corporation has a 52 week low of $52.07 and a 52 week high of $88.38. The stock has a market cap of $35.39 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.23 and a beta of 0.59.

Entergy (NYSE:ETR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share 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 company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. Analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on ETR shares. Barclays raised their target price on Entergy from $88.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on Entergy from $87.00 to $98.00 and gave the company an "overweight" rating in a research report on Tuesday, March 11th. KeyCorp upgraded Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price objective on the stock in a research report on Wednesday, May 14th. UBS Group boosted their price objective on Entergy from $86.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Finally, BMO Capital Markets boosted their price objective on Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $86.25.

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.