Trustmark National Bank Trust Department Sells 159 Shares of Entergy Corporation (NYSE:ETR)

Trustmark National Bank Trust Department reduced its stake in shares of Entergy Corporation (NYSE:ETR) by 5.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,998 shares of the utilities provider’s stock after selling 159 shares during the period. Trustmark National Bank Trust Department’s holdings in Entergy were worth $395,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC purchased a new stake in shares of Entergy in the 2nd quarter worth $25,000. Cetera Trust Company N.A acquired a new stake in Entergy during the third quarter worth about $29,000. Fortitude Family Office LLC boosted its position in Entergy by 423.8% during 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 in the last quarter. American National Bank boosted its position in Entergy by 93.7% during the second quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 134 shares in the last quarter. Finally, Coastline Trust Co purchased a new position in shares of Entergy in the third quarter valued at approximately $31,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of research reports. Scotiabank lifted their price objective on Entergy from $119.00 to $144.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their price target on Entergy from $137.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Argus upgraded Entergy to a “strong-buy” rating in a report on Wednesday, August 28th. Morgan Stanley raised Entergy from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $116.00 to $150.00 in a research note on Monday, November 4th. Finally, Barclays upped their price objective on Entergy from $137.00 to $152.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Entergy has a consensus rating of “Moderate Buy” and an average target price of $150.42.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 4,134 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $149.03, for a total transaction of $616,090.02. Following the completion of the sale, the insider now directly owns 2,016 shares in the company, valued at approximately $300,444.48. The trade was a 67.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eliecer Viamontes sold 200 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $147.00, for a total value of $29,400.00. Following the completion of the transaction, the insider now directly owns 4,173 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 sold a total of 40,472 shares of company stock valued at $5,076,328 in the last three months. 0.39% of the stock is currently owned by corporate insiders.

Entergy Stock Performance

Shares of ETR stock opened at $151.93 on Friday. The firm has a 50-day moving average of $137.26 and a 200-day moving average of $121.21. The company has a market cap of $32.57 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.50 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. Entergy Corporation has a one year low of $96.15 and a one year high of $156.85.

Entergy (NYSE:ETR) last announced its earnings results on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. Entergy had a net margin of 14.83% and a return on equity of 9.53%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the firm posted $3.27 earnings per share. Equities research analysts forecast that Entergy Corporation will post 7.21 EPS for the current fiscal year.

Entergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 13th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.16%. This is a positive change from Entergy’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, November 13th. Entergy’s dividend payout ratio is currently 58.47%.

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.