Polymer Capital Management US LLC Buys Shares of 151,175 Entergy Corporation (NYSE:ETR)

Polymer Capital Management US LLC acquired a new stake in Entergy Corporation (NYSE:ETR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 151,175 shares of the utilities provider's stock, valued at approximately $11,462,000. Entergy accounts for approximately 3.1% of Polymer Capital Management US LLC's portfolio, making the stock its 5th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETR. Trek Financial LLC purchased a new stake in shares of Entergy in the 4th quarter worth about $3,151,000. FMR LLC increased its stake in shares of Entergy by 90.7% during the fourth quarter. FMR LLC now owns 12,612,407 shares of the utilities provider's stock valued at $956,273,000 after purchasing an additional 5,998,760 shares in the last quarter. Polymer Capital Management HK LTD purchased a new position in shares of Entergy during the fourth quarter valued at approximately $1,079,000. Federated Hermes Inc. boosted its position in shares of Entergy by 23.4% in the 4th quarter. Federated Hermes Inc. now owns 3,399,181 shares of the utilities provider's stock worth $257,726,000 after purchasing an additional 643,554 shares in the last quarter. Finally, Peapack Gladstone Financial Corp grew its stake in shares of Entergy by 99.9% in the 4th quarter. Peapack Gladstone Financial Corp now owns 28,604 shares of the utilities provider's stock worth $2,169,000 after buying an additional 14,294 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ETR has been the topic of a number of recent research reports. BMO Capital Markets cut their target price on Entergy from $94.00 to $89.00 and set an "outperform" rating on the stock in a research note on Friday. StockNews.com upgraded shares of Entergy from a "sell" rating to a "hold" rating in a research note on Sunday, December 29th. Evercore ISI lifted their target price on shares of Entergy from $75.00 to $86.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Scotiabank cut their price target on shares of Entergy from $165.00 to $82.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 7th. Finally, Barclays boosted their price objective on shares of Entergy from $79.00 to $88.00 and gave the stock an "overweight" rating in a report on Tuesday. Six investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.25.

Remove Ads

Entergy Stock Performance

Shares of NYSE ETR traded up $1.43 during trading on Friday, reaching $81.71. 3,384,251 shares of the company traded hands, compared to its average volume of 3,694,283. The stock has a market cap of $35.20 billion, a P/E ratio of 33.55, a PEG ratio of 2.34 and a beta of 0.56. The firm's fifty day simple moving average is $83.48 and its 200 day simple moving average is $77.26. 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 - Get Free Report) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same period in the prior year, the company posted $0.26 EPS. As a group, research analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders 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 dividend yield of 2.94%. Entergy's dividend payout ratio (DPR) 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.