PNC Financial Services Group Inc. Purchases 85,506 Shares of Entergy Corporation (NYSE:ETR)

PNC Financial Services Group Inc. boosted its position in Entergy Corporation (NYSE:ETR) by 95.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 175,407 shares of the utilities provider’s stock after purchasing an additional 85,506 shares during the period. PNC Financial Services Group Inc.’s holdings in Entergy were worth $13,299,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mesirow Financial Investment Management Inc. purchased a new position in shares of Entergy in the fourth quarter worth approximately $257,000. Ashton Thomas Private Wealth LLC raised its position in Entergy by 110.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,337 shares of the utilities provider’s stock worth $253,000 after acquiring an additional 1,754 shares during the period. Callan Family Office LLC purchased a new position in shares of Entergy during the 4th quarter worth $979,000. Freestone Capital Holdings LLC grew its position in shares of Entergy by 100.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 3,220 shares of the utilities provider’s stock valued at $244,000 after acquiring an additional 1,610 shares during the period. Finally, Ethos Financial Group LLC increased its stake in shares of Entergy by 100.4% in the 4th quarter. Ethos Financial Group LLC now owns 3,545 shares of the utilities provider’s stock worth $269,000 after purchasing an additional 1,776 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ETR. UBS Group lifted their target price on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday. BMO Capital Markets lifted their price target on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.11.

Insider Activity at Entergy

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $73.94, for a total value of $450,146.72. Following the sale, the insider now directly owns 3,952 shares in the company, valued at $292,210.88. The trade was a 60.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.39% of the stock is owned by insiders.

Entergy Stock Up 2.3 %

ETR opened at $82.31 on Wednesday. The company has a market capitalization of $35.43 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The firm has a 50-day simple moving average of $81.62 and a two-hundred day simple moving average of $73.81. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. Entergy Corporation has a 52 week low of $50.19 and a 52 week high of $88.38.

Entergy (NYSE:ETR) last released its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same quarter last year, the business posted $0.26 EPS. Analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Monday, February 10th. Entergy’s dividend payout ratio is presently 98.77%.

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.