Sagespring Wealth Partners LLC Purchases New Shares in Entergy Corporation (NYSE:ETR)

Sagespring Wealth Partners LLC acquired a new stake in shares of Entergy Corporation (NYSE:ETR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,451 shares of the utilities provider’s stock, valued at approximately $413,000.

A number of other institutional investors also recently bought and sold shares of ETR. Legacy Financial Advisors Inc. boosted its position in Entergy by 60.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider’s stock valued at $1,219,000 after buying an additional 6,028 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Entergy in the fourth quarter valued at approximately $4,393,000. Flagship Harbor Advisors LLC grew its stake in Entergy by 74.3% during the 4th quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider’s stock worth $603,000 after buying an additional 3,393 shares during the last quarter. LaFleur & Godfrey LLC purchased a new stake in shares of Entergy during the fourth quarter worth about $217,000. Finally, Avior Wealth Management LLC increased its stake in Entergy by 324.3% during the 4th quarter. Avior Wealth Management LLC now owns 734 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 561 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Entergy from $85.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. LADENBURG THALM/SH SH raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective for the company in a report on Thursday, January 30th. Barclays upped their target price on Entergy from $79.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. BMO Capital Markets decreased their price target on shares of Entergy from $94.00 to $89.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Finally, Morgan Stanley raised their price objective on Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.25.

Entergy Trading Up 1.0 %

Shares of ETR stock opened at $83.37 on Wednesday. The company has a 50-day moving average of $83.49 and a two-hundred day moving average of $77.51. The firm has a market cap of $35.91 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. Entergy Corporation has a 1-year low of $50.19 and a 1-year high of $88.38. 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) last posted its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the business earned $0.26 EPS. On average, analysts predict that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 2nd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, May 2nd. Entergy’s payout ratio is currently 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.