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

Polymer Capital Management US LLC purchased a new stake in Entergy Corporation (NYSE:ETR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 151,175 shares of the utilities provider’s stock, valued at approximately $11,462,000. Entergy accounts for 3.1% of Polymer Capital Management US LLC’s investment portfolio, making the stock its 5th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Trek Financial LLC bought a new stake in Entergy during the 4th quarter valued at $3,151,000. FMR LLC raised 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 acquired a new stake in Entergy in the fourth quarter worth about $1,079,000. Federated Hermes Inc. grew its position in Entergy by 23.4% in the 4th quarter. Federated Hermes Inc. now owns 3,399,181 shares of the utilities provider’s stock valued at $257,726,000 after buying an additional 643,554 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its stake in Entergy by 99.9% during the 4th quarter. Peapack Gladstone Financial Corp now owns 28,604 shares of the utilities provider’s stock valued at $2,169,000 after buying an additional 14,294 shares during the period. Institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ETR shares. StockNews.com raised shares of Entergy from a “sell” rating to a “hold” rating in a research note on Sunday, December 29th. Evercore ISI increased their price target on Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Scotiabank lowered 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. BMO Capital Markets upped their price objective on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company lifted their target price on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.75.

Entergy Trading Down 7.1 %

Entergy stock opened at $79.02 on Monday. The company has a 50 day moving average price of $83.52 and a 200 day moving average price of $76.69. 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 Corporation has a 52 week low of $50.19 and a 52 week high of $88.38. The firm has a market capitalization of $34.04 billion, a price-to-earnings ratio of 32.45, a P/E/G ratio of 2.34 and a beta of 0.56.

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

Entergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, February 10th. Entergy’s dividend payout ratio (DPR) is 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.