Anchor Pointe Wealth Management LLC Takes Position in Entergy Corporation (NYSE:ETR)

Anchor Pointe Wealth Management LLC acquired a new position in Entergy Corporation (NYSE:ETR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,186 shares of the utilities provider's stock, valued at approximately $241,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Financial Advisors Inc. raised its position in shares of Entergy by 60.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider's stock valued at $1,219,000 after purchasing an additional 6,028 shares during the period. Strategic Financial Concepts LLC purchased a new position in Entergy in the 4th quarter worth approximately $4,393,000. Flagship Harbor Advisors LLC boosted its stake in shares of Entergy by 74.3% in the 4th quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider's stock valued at $603,000 after purchasing an additional 3,393 shares in the last quarter. LaFleur & Godfrey LLC purchased a new stake in shares of Entergy in the 4th quarter valued at $217,000. Finally, Bank of Montreal Can boosted its stake in shares of Entergy by 74.3% in the 4th quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider's stock valued at $50,869,000 after purchasing an additional 286,005 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

Wall Street Analysts Forecast Growth

ETR has been the subject of a number of recent analyst reports. KeyCorp upgraded shares of Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price target for the company in a report on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating on shares of Entergy in a research report on Wednesday, April 23rd. Barclays increased their price objective on shares of Entergy from $88.00 to $91.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Evercore ISI raised their price target on shares of Entergy from $75.00 to $86.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Finally, LADENBURG THALM/SH SH raised shares of Entergy from a "neutral" rating to a "buy" rating and set a $86.50 price target on the stock in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Entergy currently has a consensus rating of "Moderate Buy" and an average target price of $86.04.

Entergy Stock Performance

NYSE ETR traded up $0.84 on Friday, reaching $83.20. 4,051,049 shares of the stock were exchanged, compared to its average volume of 3,655,796. Entergy Corporation has a one year low of $52.07 and a one year high of $88.38. The firm has a market capitalization of $35.84 billion, a PE ratio of 34.17, a PEG ratio of 2.34 and a beta of 0.62. The company's 50-day simple moving average is $82.77 and its two-hundred day simple moving average is $80.64. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.60 by $0.22. The business had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $3.13 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same quarter in the previous year, the company earned $0.54 EPS. Analysts expect that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, May 2nd. Entergy's dividend payout ratio is presently 77.92%.

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.