Prosperity Consulting Group LLC Acquires 9,485 Shares of Entergy Corporation (NYSE:ETR)

Prosperity Consulting Group LLC grew its holdings in shares of Entergy Corporation (NYSE:ETR - Free Report) by 102.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,763 shares of the utilities provider's stock after buying an additional 9,485 shares during the quarter. Prosperity Consulting Group LLC's holdings in Entergy were worth $1,423,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Entergy during the third quarter valued at approximately $175,000. Synovus Financial Corp boosted its holdings in shares of Entergy by 78.3% in the 3rd quarter. Synovus Financial Corp now owns 4,269 shares of the utilities provider's stock valued at $562,000 after buying an additional 1,875 shares during the last quarter. Peapack Gladstone Financial Corp grew its stake in shares of Entergy by 181.5% in the third quarter. Peapack Gladstone Financial Corp now owns 14,310 shares of the utilities provider's stock valued at $1,884,000 after buying an additional 9,227 shares in the last quarter. Franklin Resources Inc. increased its holdings in Entergy by 53.0% during the third quarter. Franklin Resources Inc. now owns 5,718,859 shares of the utilities provider's stock worth $754,318,000 after buying an additional 1,981,611 shares during the last quarter. Finally, DGS Capital Management LLC raised its position in Entergy by 17.9% during the third quarter. DGS Capital Management LLC now owns 4,141 shares of the utilities provider's stock worth $545,000 after acquiring an additional 628 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Performance

NYSE ETR opened at $84.60 on Friday. Entergy Corporation has a 12-month low of $52.07 and a 12-month high of $88.38. The firm has a 50-day moving average price of $83.51 and a two-hundred day moving average price of $78.48. The company has a market capitalization of $36.44 billion, a P/E ratio of 34.74, a P/E/G ratio of 2.34 and a beta of 0.56. 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 (NYSE:ETR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) 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 period in the previous year, the company posted $0.26 earnings per share. Analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy's dividend payout ratio (DPR) is presently 98.77%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BMO Capital Markets lowered their price objective on shares of Entergy from $94.00 to $89.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company upped their price objective on Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. UBS Group lifted their target price on Entergy from $86.00 to $96.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Morgan Stanley reissued an "overweight" rating on shares of Entergy in a report on Wednesday. Finally, Evercore ISI raised their price target on Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $85.25.

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.

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