Prosperity Consulting Group LLC Has $1.42 Million Stock Holdings in Entergy Corporation (NYSE:ETR)

Prosperity Consulting Group LLC grew its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 102.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,763 shares of the utilities provider's stock after purchasing 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 quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBT Bank N A NY grew its holdings in shares of Entergy by 100.0% during the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 170 shares in the last quarter. Fortis Group Advisors LLC grew its stake in Entergy by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. Duncker Streett & Co. Inc. grew its stake in shares of Entergy by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider's stock valued at $27,000 after buying an additional 179 shares in the last quarter. Sandy Spring Bank increased its holdings in Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider's stock worth $27,000 after buying an additional 179 shares during the last quarter. Finally, Riverview Trust Co lifted its stake in Entergy by 100.0% in the fourth quarter. Riverview Trust Co now owns 364 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 182 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ETR. Wells Fargo & Company raised their target price on Entergy from $85.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Morgan Stanley restated an "overweight" rating on shares of Entergy in a report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price target on Entergy from $87.00 to $98.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. Barclays boosted their price objective on shares of Entergy from $88.00 to $91.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Scotiabank dropped their price target on Entergy from $165.00 to $82.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $85.75.

Entergy Price Performance

ETR stock traded up $1.50 during midday trading on Friday, reaching $84.27. 1,418,161 shares of the company's stock traded hands, compared to its average volume of 3,673,239. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a market cap of $36.30 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 2.34 and a beta of 0.56. The company has a 50-day simple moving average of $83.35 and a two-hundred day simple moving average of $78.90. Entergy Corporation has a 1-year low of $52.07 and a 1-year high of $88.38.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.22. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same period in the previous year, the firm posted $0.54 earnings per share. On average, analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 2nd will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.85%. Entergy's payout ratio is 98.77%.

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.