Parkside Financial Bank & Trust Increases Stake in Entergy Corporation (NYSE:ETR)

Parkside Financial Bank & Trust lifted its holdings in Entergy Corporation (NYSE:ETR) by 398.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,804 shares of the utilities provider’s stock after purchasing an additional 1,442 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Entergy were worth $137,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in shares of Entergy by 53.0% in the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider’s stock valued at $754,318,000 after acquiring an additional 1,981,611 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Entergy by 139.5% during the fourth quarter. Jennison Associates LLC now owns 2,423,556 shares of the utilities provider’s stock worth $183,754,000 after acquiring an additional 1,411,473 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Entergy by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 3,589,727 shares of the utilities provider’s stock worth $472,444,000 after acquiring an additional 1,354,355 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Entergy by 87.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,848,293 shares of the utilities provider’s stock worth $215,958,000 after acquiring an additional 1,328,694 shares during the last quarter. Finally, Truist Financial Corp grew its stake in shares of Entergy by 105.0% during the fourth quarter. Truist Financial Corp now owns 2,072,950 shares of the utilities provider’s stock worth $157,171,000 after acquiring an additional 1,061,527 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Entergy

In related news, insider Deanna D. Rodriguez sold 6,088 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $73.94, for a total value of $450,146.72. Following the completion of the transaction, the insider now directly owns 3,952 shares of the company’s stock, valued at approximately $292,210.88. This represents a 60.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.

Entergy Trading Up 2.4 %

Shares of ETR stock opened at $87.29 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59. The company has a market cap of $37.57 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 2.34 and a beta of 0.72. The stock has a 50 day simple moving average of $80.59 and a 200-day simple moving average of $72.53. Entergy Corporation has a 1-year low of $49.80 and a 1-year high of $88.38.

Entergy (NYSE:ETR) last announced its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. Entergy had a return on equity of 10.68% and a net margin of 8.90%. During the same period in the prior year, the company posted $0.26 EPS. On average, equities research analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.75%. The ex-dividend date is Monday, February 10th. Entergy’s dividend payout ratio is currently 98.77%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ETR shares. StockNews.com upgraded Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. Scotiabank dropped their target price on Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley upgraded Entergy from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $58.00 to $75.00 in a research report on Monday, November 4th. UBS Group boosted their price target on Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, BMO Capital Markets boosted their price target on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.14.

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.