Truist Financial Corp Has $1.15 Million Position in Entergy Co. (NYSE:ETR)

Truist Financial Corp lifted its stake in shares of Entergy Co. (NYSE:ETRGet Rating) by 0.9% during the third quarter, Holdings Channel reports. The fund owned 11,380 shares of the utilities provider’s stock after buying an additional 104 shares during the quarter. Truist Financial Corp’s holdings in Entergy were worth $1,145,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its position in shares of Entergy by 82.9% during the 2nd quarter. JFS Wealth Advisors LLC now owns 236 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 107 shares during the period. Field & Main Bank acquired a new position in shares of Entergy during the 2nd quarter valued at $28,000. Fairfield Bush & CO. acquired a new position in shares of Entergy during the 1st quarter valued at $29,000. Wagner Wealth Management LLC acquired a new position in shares of Entergy during the 2nd quarter valued at $32,000. Finally, Truvestments Capital LLC acquired a new position in Entergy during the second quarter worth $41,000. Institutional investors and hedge funds own 89.98% of the company’s stock.

Entergy Price Performance

ETR opened at $107.00 on Friday. The firm has a market cap of $21.77 billion, a P/E ratio of 17.37, a PEG ratio of 2.63 and a beta of 0.64. The firm has a 50-day moving average of $112.22 and a 200 day moving average of $111.82. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.69 and a current ratio of 0.90. Entergy Co. has a fifty-two week low of $94.94 and a fifty-two week high of $126.82.

Entergy (NYSE:ETRGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The utilities provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.17. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.35 billion. Entergy had a net margin of 9.46% and a return on equity of 11.55%. On average, research analysts expect that Entergy Co. will post 6.37 EPS for the current year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Monday, November 14th were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Thursday, November 10th. This is a positive change from Entergy’s previous quarterly dividend of $1.01. Entergy’s dividend payout ratio (DPR) is currently 69.48%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ETR. Wells Fargo & Company upped their price objective on shares of Entergy from $123.00 to $135.00 in a report on Wednesday, December 14th. Morgan Stanley upped their price objective on shares of Entergy from $103.00 to $110.00 and gave the stock an “underweight” rating in a report on Thursday, December 15th. Bank of America downgraded shares of Entergy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $135.00 to $119.00 in a report on Tuesday, January 3rd. Mizuho lowered their price objective on shares of Entergy from $114.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday. Finally, StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a research note on Friday, November 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Entergy presently has an average rating of “Hold” and a consensus target price of $122.93.

Entergy Profile

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Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. The company operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment 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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Institutional Ownership by Quarter for Entergy (NYSE:ETR)

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