Fifth Third Bancorp Raises Stock Holdings in Entergy Corporation (NYSE:ETR)

Fifth Third Bancorp raised its position in shares of Entergy Corporation (NYSE:ETR) by 82.1% during the 4th quarter, Holdings Channel reports. 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 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of Entergy during the 3rd quarter valued at approximately $27,000. Cetera Trust Company N.A bought a new position in shares of Entergy during the 3rd quarter valued at approximately $29,000. Fortitude Family Office LLC increased its position in shares of Entergy by 423.8% during the 3rd quarter. Fortitude Family Office LLC now owns 220 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 178 shares during the last quarter. IFS Advisors LLC bought a new position in Entergy in the 4th quarter valued at $30,000. Finally, Ulland Investment Advisors LLC grew its position in Entergy by 100.0% in the 4th quarter. Ulland Investment Advisors LLC now owns 400 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Deanna D. Rodriguez sold 6,088 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 3,952 shares in the company, valued at $292,210.88. This trade represents a 60.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eliecer Viamontes sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $73.50, for a total value of $29,400.00. Following the completion of the transaction, the insider now owns 8,346 shares in the company, valued at approximately $613,431. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,756 shares of company stock valued at $1,095,637 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ETR has been the topic of several research analyst reports. StockNews.com raised Entergy from a “sell” rating to a “hold” rating in a research report on Sunday, December 29th. BMO Capital Markets cut their price objective on Entergy from $83.00 to $79.50 and set an “outperform” rating on the stock in a research report on Monday, November 18th. Royal Bank of Canada upped their price objective on Entergy from $68.50 to $70.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Scotiabank dropped their price target 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. Finally, Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $58.00 to $75.00 in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.81.

Entergy Stock Up 2.5 %

Shares of ETR stock opened at $81.20 on Friday. The stock’s 50-day simple moving average is $77.01 and its 200-day simple moving average is $68.42. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.59 and a current ratio of 0.89. The firm has a market capitalization of $34.82 billion, a PE ratio of 19.78, a P/E/G ratio of 2.54 and a beta of 0.71. Entergy Corporation has a fifty-two week low of $48.08 and a fifty-two week high of $84.26.

Entergy (NYSE:ETR) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.46 billion. Entergy had a return on equity of 9.53% and a net margin of 14.83%. During the same period in the prior year, the company earned $1.64 earnings per share. Equities analysts expect that Entergy Corporation will post 3.59 earnings per share for the current year.

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.