C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New Investment in Entergy Corporation (NYSE:ETR)

Key Points

• C2P Capital Advisory Group LLC has acquired 3,215 shares of Entergy Corporation, valued at approximately $275,000, marking a new position in the company.
• Entergy's recent earnings report showed an EPS of $1.05, surpassing expectations, but revenue of $3.02 billion fell short of the $3.11 billion consensus estimate.
• Analysts have a consensus rating of "Moderate Buy" for Entergy stock, with an average target price of $88.07, and the company recently announced a quarterly dividend of $0.60 per share.

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Entergy Corporation (NYSE:ETR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,215 shares of the utilities provider's stock, valued at approximately $275,000.

A number of other institutional investors also recently bought and sold shares of ETR. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Entergy in the first quarter worth about $28,000. Grove Bank & Trust grew its holdings in shares of Entergy by 188.5% during the first quarter. Grove Bank & Trust now owns 352 shares of the utilities provider's stock valued at $30,000 after buying an additional 230 shares during the last quarter. Glen Eagle Advisors LLC grew its holdings in shares of Entergy by 100.0% during the fourth quarter. Glen Eagle Advisors LLC now owns 360 shares of the utilities provider's stock valued at $27,000 after buying an additional 180 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Entergy during the first quarter valued at approximately $32,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Entergy during the fourth quarter valued at approximately $30,000. 88.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Entergy

In related news, insider Haley Fisackerly sold 4,463 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $90.50, for a total transaction of $403,901.50. Following the completion of the sale, the insider owned 3,318 shares of the company's stock, valued at $300,279. This represents a 57.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.39% of the company's stock.

Entergy Trading Down 1.4%

NYSE:ETR traded down $1.24 during mid-day trading on Friday, hitting $89.05. 4,104,742 shares of the stock traded hands, compared to its average volume of 2,711,109. The stock has a market capitalization of $39.75 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 2.46 and a beta of 0.57. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. Entergy Corporation has a 52 week low of $58.46 and a 52 week high of $92.40. The firm's 50 day moving average is $85.15 and its two-hundred day moving average is $83.82.

Entergy (NYSE:ETR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.14. Entergy had a net margin of 14.35% and a return on equity of 11.52%. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the prior year, the company earned $1.92 EPS. On average, equities research analysts predict that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 13th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, August 13th. Entergy's dividend payout ratio is presently 59.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ETR shares. BMO Capital Markets increased their price target on shares of Entergy from $89.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Raymond James Financial started coverage on shares of Entergy in a report on Friday, June 13th. They issued a "market perform" rating on the stock. Morgan Stanley dropped their price target on shares of Entergy from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Barclays decreased their price objective on shares of Entergy from $91.00 to $87.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Entergy from $100.00 to $102.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $88.07.

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.