Fifth Third Bancorp Buys 6,977 Shares of Entergy Corporation (NYSE:ETR)

Fifth Third Bancorp increased its stake in Entergy Corporation (NYSE:ETR) by 82.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,479 shares of the utilities provider’s stock after purchasing an additional 6,977 shares during the period. Fifth Third Bancorp’s holdings in Entergy were worth $1,174,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ETR. Legacy Investment Solutions LLC bought a new position in Entergy during the third quarter valued at approximately $27,000. Cetera Trust Company N.A bought a new position in shares of Entergy in the third quarter worth approximately $29,000. Fortitude Family Office LLC grew its holdings in shares of Entergy by 423.8% in the third quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 178 shares during the last quarter. IFS Advisors LLC bought a new position in shares of Entergy in the fourth quarter worth approximately $30,000. Finally, Ulland Investment Advisors LLC grew its holdings in shares of Entergy by 100.0% in the fourth quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Entergy Price Performance

NYSE ETR opened at $81.20 on Friday. Entergy Corporation has a one year low of $48.08 and a one year high of $84.26. The stock has a 50-day moving average of $77.01 and a 200 day moving average of $68.42. The company has a market capitalization of $34.82 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.54 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.46 by $0.04. Entergy had a return on equity of 9.53% and a net margin of 14.83%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the company earned $1.64 EPS. On average, sell-side analysts forecast that Entergy Corporation will post 3.59 EPS for the current year.

Insider Buying and Selling

In other Entergy news, insider Eliecer Viamontes sold 400 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $73.50, for a total transaction of $29,400.00. Following the completion of the sale, the insider now directly owns 8,346 shares in the company, valued at $613,431. The trade was a 4.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Haley Fisackerly sold 8,268 shares of Entergy stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $74.52, for a total value of $616,090.02. Following the transaction, the insider now directly owns 4,032 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,756 shares of company stock worth $1,095,637. 0.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Mizuho raised their target price on shares of Entergy from $69.00 to $82.50 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays raised their price target on Entergy from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price target on Entergy from $68.50 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Guggenheim raised their price target on Entergy from $72.50 to $82.50 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $58.00 to $75.00 in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.81.

About Entergy

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.