PNC Financial Services Group Inc. Increases Stock Position in Entergy Co. (NYSE:ETR)

PNC Financial Services Group Inc. raised its position in shares of Entergy Co. (NYSE:ETR) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Entergy by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 26,038,725 shares of the utilities provider’s stock valued at $2,408,582,000 after buying an additional 104,803 shares during the period. FMR LLC boosted its position in Entergy by 64.4% during the 3rd quarter. FMR LLC now owns 4,562,369 shares of the utilities provider’s stock valued at $422,019,000 after buying an additional 1,787,977 shares during the period. Ameriprise Financial Inc. boosted its position in Entergy by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,506,843 shares of the utilities provider’s stock valued at $416,883,000 after buying an additional 48,047 shares during the period. Franklin Resources Inc. boosted its position in Entergy by 25.2% during the 4th quarter. Franklin Resources Inc. now owns 3,961,859 shares of the utilities provider’s stock valued at $400,901,000 after buying an additional 796,316 shares during the period. Finally, ClearBridge Investments Ltd boosted its position in Entergy by 29.3% during the 4th quarter. ClearBridge Investments Ltd now owns 3,115,468 shares of the utilities provider’s stock valued at $315,254,000 after buying an additional 706,059 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Insider Buying and Selling at Entergy

In other Entergy news, CAO Reginald T. Jackson sold 9,229 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 2,166 shares in the company, valued at approximately $235,465.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Haley Fisackerly sold 1,500 shares of Entergy stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.23, for a total value of $165,345.00. Following the completion of the sale, the insider now directly owns 2,479 shares in the company, valued at $273,260.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the chief accounting officer now owns 2,166 shares of the company’s stock, valued at $235,465.86. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

ETR has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Entergy from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $117.00 target price on shares of Entergy in a research report on Monday, February 26th. Wells Fargo & Company raised their target price on shares of Entergy from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $109.50 target price (down from $117.00) on shares of Entergy in a research report on Wednesday, June 12th. Finally, KeyCorp raised their target price on shares of Entergy from $112.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $114.12.

Entergy Stock Down 0.3 %

NYSE:ETR opened at $106.08 on Wednesday. The firm has a market cap of $22.65 billion, a P/E ratio of 10.64, a P/E/G ratio of 2.01 and a beta of 0.73. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.69. Entergy Co. has a fifty-two week low of $87.10 and a fifty-two week high of $114.28. The firm has a 50-day simple moving average of $108.40 and a two-hundred day simple moving average of $104.05.

Entergy (NYSE:ETR) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.36). The firm had revenue of $31.17 billion for the quarter, compared to the consensus estimate of $3.16 billion. Entergy had a net margin of 17.75% and a return on equity of 10.20%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share. Analysts predict that Entergy Co. will post 7.23 earnings per share for the current fiscal year.

Entergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Thursday, May 2nd were paid a dividend of $1.13 per share. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $4.52 dividend on an annualized basis and a yield of 4.26%. Entergy’s dividend payout ratio is currently 45.34%.

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.