Sagespring Wealth Partners LLC Makes New Investment in Entergy Corporation (NYSE:ETR)

Sagespring Wealth Partners LLC bought a new stake in Entergy Corporation (NYSE:ETR) in the 4th quarter, HoldingsChannel.com reports. The firm bought 5,451 shares of the utilities provider’s stock, valued at approximately $413,000.

Several other large investors also recently bought and sold shares of ETR. Fortis Group Advisors LLC grew its stake in shares of 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 purchasing an additional 172 shares during the last quarter. NBT Bank N A NY grew its holdings in shares of Entergy by 100.0% in the 4th quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 170 shares during the period. Duncker Streett & Co. Inc. increased its position in shares of Entergy by 100.0% in the fourth 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 grew its position in shares of Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 179 shares during the last quarter. Finally, Riverview Trust Co grew its holdings in Entergy by 100.0% during the 4th quarter. Riverview Trust Co now owns 364 shares of the utilities provider’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. LADENBURG THALM/SH SH raised shares of Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price objective on the stock in a research note on Thursday, January 30th. StockNews.com upgraded shares of Entergy from a “sell” rating to a “hold” rating in a report on Sunday, December 29th. Wells Fargo & Company boosted their price objective on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Scotiabank reduced their target price on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley increased their price target 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 issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Entergy currently has a consensus rating of “Moderate Buy” and an average target price of $85.25.

Entergy Trading Up 1.0 %

Shares of NYSE ETR opened at $83.37 on Wednesday. The company has a market cap of $35.91 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 2.34 and a beta of 0.56. The stock’s 50 day simple moving average is $83.49 and its 200 day simple moving average is $77.51. 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 Corporation has a 12-month low of $50.19 and a 12-month high of $88.38.

Entergy (NYSE:ETR) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (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 firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the business posted $0.26 EPS. Equities research analysts expect that Entergy Corporation will post 3.88 EPS for the current year.

Entergy Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, May 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.88%. Entergy’s dividend payout ratio is presently 98.77%.

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.