Prospera Private Wealth LLC Raises Stake in Entergy Co. (NYSE:ETR)

Prospera Private Wealth LLC grew its stake in shares of Entergy Co. (NYSE:ETR) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,467 shares of the utilities provider’s stock after acquiring an additional 170 shares during the period. Prospera Private Wealth LLC’s holdings in Entergy were worth $720,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC acquired a new position in Entergy during the second quarter worth about $25,000. Cetera Trust Company N.A purchased a new stake in Entergy in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC increased 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 during the last quarter. American National Bank increased its holdings in shares of Entergy by 93.7% during the 2nd quarter. American National Bank now owns 277 shares of the utilities provider’s stock worth $30,000 after buying an additional 134 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in Entergy during the third quarter worth about $31,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on ETR. Wells Fargo & Company raised their target price on shares of Entergy from $137.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of Entergy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Barclays boosted their target price on shares of Entergy from $137.00 to $152.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Scotiabank lifted their price target on shares of Entergy from $119.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Finally, Guggenheim raised their target price on Entergy from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.42.

Entergy Trading Up 0.4 %

NYSE:ETR opened at $149.83 on Wednesday. Entergy Co. has a 12-month low of $96.15 and a 12-month high of $156.85. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.59. The business has a 50 day simple moving average of $136.12 and a 200 day simple moving average of $120.78. The firm has a market capitalization of $32.13 billion, a P/E ratio of 18.25, a P/E/G ratio of 2.49 and a beta of 0.71.

Entergy (NYSE:ETR) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $2.99 earnings per share for the quarter, topping 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 analysts’ expectations of $3.46 billion. During the same quarter last year, the company earned $3.27 EPS. Equities research analysts predict that Entergy Co. will post 7.21 EPS for the current year.

Entergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 13th will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 annualized dividend and a yield of 3.20%. This is an increase from Entergy’s previous quarterly dividend of $1.13. Entergy’s payout ratio is presently 58.47%.

Insider Transactions at Entergy

In other news, CEO Andrew S. Marsh sold 600 shares of Entergy stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $120.03, for a total transaction of $72,018.00. Following the transaction, the chief executive officer now directly owns 150,731 shares in the company, valued at approximately $18,092,241.93. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Haley Fisackerly sold 4,134 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $149.03, for a total value of $616,090.02. Following the transaction, the insider now directly owns 2,016 shares of the company’s stock, valued at $300,444.48. This represents a 67.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,472 shares of company stock valued at $5,076,328. 0.54% of the stock is currently owned by corporate insiders.

Entergy Company 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.