Truist Financial Corp Lowers Stake in Entergy Co. (NYSE:ETR)


Truist Financial Corp lowered its stake in shares of Entergy Co. (NYSE:ETR – Get Rating) by 41.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,959 shares of the utilities provider’s stock after selling 7,759 shares during the period. Truist Financial Corp’s holdings in Entergy were worth $1,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. CNB Bank purchased a new stake in shares of Entergy during the 1st quarter valued at $27,000. Sandy Cove Advisors LLC purchased a new position in Entergy in the 4th quarter worth $29,000. Riverview Trust Co purchased a new position in Entergy in the 1st quarter worth $32,000. Missouri Trust & Investment Co purchased a new position in Entergy in the 4th quarter worth $33,000. Finally, FSB Premier Wealth Management Inc. purchased a new position in Entergy in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 88.94% of the company’s stock.

Entergy Trading Down 0.3%

Shares of ETR stock opened at $107.96 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.72 and a quick ratio of 0.49. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.58 and a beta of 0.60. The stock has a 50-day simple moving average of $113.24 and a 200-day simple moving average of $113.21. Entergy Co. has a 1-year low of $98.50 and a 1-year high of $126.82.

Entergy (NYSE:ETR – Get Rating) last announced its earnings results on Wednesday, April 27th. The utilities provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.06). The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.90 billion. Entergy had a return on equity of 10.44% and a net margin of 8.99%. During the same period in the previous year, the company earned $1.47 earnings per share. On average, equities research analysts expect that Entergy Co. will post 6.36 EPS for the current fiscal year.

Insider Transactions at Entergy

In other news, insider Deanna D. Rodriguez sold 256 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The stock sold at an average price of $120.22, for a total transaction of $30,776.32. Following the completion of the transaction, the insider now directly owns 3,108 shares of the company’s stock, valued at approximately $373,643.76. The sale was disclosed link in a filing with the SEC, which is available at this link. In related news, insider Deanna D. Rodriguez sold 256 shares of the business’s stock in a transaction that occurred on Friday, April 29th. The stock sold at an average price of $120.22, for a total transaction of $30,776.32. Following the completion of the sale, the insider now directly owns 3,108 shares in the company, valued at $373,643.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Paul D. Hinnenkamp sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock sold at an average price of $120.94, for a total value of $786,110.00. Following the sale, the chief operating officer now owns 26,102 shares of the company’s stock, valued at $3,156,775.88. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ETR shares. Morgan Stanley reduced their target price on Entergy from $115.00 to $111.00 and set an “underweight” rating for the company in a research note on Monday, May 23rd. Baader Bank set at $188.00 target price on Entergy in a research note on Wednesday, May 18th. Credit Suisse Group reduced their target price on Entergy from $136.00 to $114.00 and set an “outperform” rating for the company in a research note on Tuesday, June 21st. Barclays set at $42.00 target price on Entergy in a research note on Monday, May 16th. Finally, StockNews.com began coverage on Entergy in a report on Thursday, March 31st. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Entergy presently has an average rating of “Hold” and an average target price of $121.93.

About Entergy

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Entergy Corporation, together with its subsidiaries, engages in the production and distribution of electricity in the United States. It 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 Enterprise (NYSE:ETR)



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