PNC Financial Services Group Inc. Grows Stake in Entergy Co. (NYSE:ETR)

PNC Financial Services Group Inc. grew its stake in shares of Entergy Co. (NYSE:ETR) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,208 shares of the utilities provider’s stock after buying an additional 1,075 shares during the period. PNC Financial Services Group Inc.’s holdings in Entergy were worth $8,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ETR. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Entergy by 123.1% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,869 shares of the utilities provider’s stock valued at $594,000 after buying an additional 3,238 shares in the last quarter. Norges Bank purchased a new position in shares of Entergy in the fourth quarter valued at $127,675,000. Kentucky Retirement Systems Insurance Trust Fund raised its stake in Entergy by 3.8% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,534 shares of the utilities provider’s stock valued at $762,000 after purchasing an additional 279 shares in the last quarter. Kentucky Retirement Systems lifted its position in Entergy by 4.1% during the fourth quarter. Kentucky Retirement Systems now owns 16,920 shares of the utilities provider’s stock valued at $1,712,000 after purchasing an additional 670 shares during the last quarter. Finally, Independent Advisor Alliance grew its stake in shares of Entergy by 4.3% in the 4th quarter. Independent Advisor Alliance now owns 8,783 shares of the utilities provider’s stock worth $889,000 after buying an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Price Performance

Entergy stock opened at $109.38 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.69 and a quick ratio of 0.45. The stock has a market cap of $23.36 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 2.13 and a beta of 0.69. The firm has a 50-day moving average of $106.77 and a two-hundred day moving average of $102.81. Entergy Co. has a 1 year low of $87.10 and a 1 year high of $114.28.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.36). The firm had revenue of $31.17 billion during the quarter, compared to the consensus estimate of $3.16 billion. Entergy had a return on equity of 10.20% and a net margin of 17.75%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. On average, research analysts forecast that Entergy Co. will post 7.23 earnings per share for the current year.

Entergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be issued a $1.13 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.13%. Entergy’s dividend payout ratio is currently 45.34%.

Insider Activity

In related news, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the transaction, the chief accounting officer now directly owns 2,166 shares of the company’s stock, valued at $235,465.86. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Kimberly Cook-Nelson sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $100.35, for a total value of $200,700.00. Following the sale, the executive vice president now directly owns 16,037 shares in the company, valued at approximately $1,609,312.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Reginald T. Jackson sold 9,229 shares of Entergy stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $108.71, for a total transaction of $1,003,284.59. Following the completion of the transaction, the chief accounting officer now directly owns 2,166 shares in the company, valued at approximately $235,465.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,729 shares of company stock worth $2,395,315. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of Entergy from $110.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Scotiabank dropped their target price on Entergy from $111.00 to $104.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $117.00 target price on shares of Entergy in a research report on Monday, February 26th. Barclays dropped their price objective on shares of Entergy from $108.00 to $107.00 and set an “equal weight” rating for the company in a research note on Monday, April 15th. Finally, KeyCorp increased their target price on shares of Entergy from $112.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Entergy has a consensus rating of “Moderate Buy” and a consensus target price of $110.45.

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.