Prossimo Advisors LLC Grows Stake in Entergy Corporation (NYSE:ETR)

Prossimo Advisors LLC boosted its stake in shares of Entergy Corporation (NYSE:ETR - Free Report) by 99.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,900 shares of the utilities provider's stock after purchasing an additional 5,929 shares during the quarter. Prossimo Advisors LLC's holdings in Entergy were worth $902,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new position in shares of Entergy during the 3rd quarter worth about $27,000. Fortitude Family Office LLC boosted 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 worth $29,000 after acquiring an additional 178 shares in the last quarter. Cetera Trust Company N.A acquired a new stake in shares of Entergy in the 3rd quarter valued at about $29,000. Coastline Trust Co acquired a new stake in shares of Entergy in the 3rd quarter valued at about $31,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Entergy in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ETR shares. BMO Capital Markets upped their target price on Entergy from $79.00 to $94.00 and gave the company an "outperform" rating in a research report on Wednesday. LADENBURG THALM/SH SH raised Entergy from a "neutral" rating to a "buy" rating and set a $86.50 target price for the company in a research report on Thursday, January 30th. Wells Fargo & Company upped their target price on Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a research report on Wednesday. KeyCorp cut Entergy from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, December 4th. Finally, Evercore ISI upped their price objective on Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $82.14.

Entergy Stock Performance

Shares of ETR stock traded down $0.92 during trading hours on Friday, reaching $84.94. 4,755,056 shares of the company's stock were exchanged, compared to its average volume of 3,839,319. Entergy Corporation has a 1 year low of $49.80 and a 1 year high of $88.38. The company has a market cap of $36.56 billion, a P/E ratio of 34.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.72. The company's 50 day moving average is $79.24 and its two-hundred day moving average is $71.30. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59.

Entergy (NYSE:ETR - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. Entergy had a return on equity of 10.68% and a net margin of 8.90%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the business posted $0.26 EPS. Equities research analysts anticipate 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 2.83%. The ex-dividend date is Monday, February 10th. Entergy's payout ratio is currently 98.56%.

Insider Activity at Entergy

In other Entergy 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 transaction of $450,146.72. Following the sale, the insider now owns 3,952 shares in the company, valued at approximately $292,210.88. This represents a 60.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is currently owned by company insiders.

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.