Proficio Capital Partners LLC Acquires New Stake in Entergy Corporation (NYSE:ETR)

Proficio Capital Partners LLC acquired a new stake in Entergy Corporation (NYSE:ETR) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 120,478 shares of the utilities provider’s stock, valued at approximately $9,135,000.

Several other institutional investors have also added to or reduced their stakes in ETR. Fortis Group Advisors LLC lifted its position in Entergy by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 172 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Entergy in the 3rd quarter valued at $27,000. Duncker Streett & Co. Inc. lifted its position in 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 acquiring an additional 179 shares in the last quarter. Riverview Trust Co lifted its position in Entergy by 100.0% in the 4th quarter. Riverview Trust Co now owns 364 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Finally, IFS Advisors LLC bought a new stake in Entergy in the 4th quarter valued at $30,000. 88.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on ETR shares. LADENBURG THALM/SH SH upgraded shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target on the stock in a research note on Thursday, January 30th. Evercore ISI lifted their price target on shares of Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. BMO Capital Markets lifted their price target on shares of Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. UBS Group lifted their price target on shares of Entergy from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank lowered their price target on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 7th. Six 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 company. According to data from MarketBeat.com, Entergy presently has a consensus rating of “Moderate Buy” and an average target price of $84.11.

Entergy Stock Up 2.6 %

Shares of ETR opened at $85.00 on Friday. Entergy Corporation has a 52 week low of $50.19 and a 52 week high of $88.38. The firm has a market cap of $36.59 billion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The firm’s 50-day simple moving average is $82.07 and its 200 day simple moving average is $74.21. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.59 and a current ratio of 0.72.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business earned $0.26 EPS. On average, analysts forecast that Entergy Corporation will post 3.88 earnings per share for the current year.

Entergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were given a dividend of $0.60 per share. The ex-dividend date was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.82%. Entergy’s payout ratio is presently 98.77%.

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.