Polymer Capital Management US LLC Invests $11.46 Million in Entergy Corporation (NYSE:ETR)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC acquired a new stake in Entergy in the 4th quarter worth about $4,393,000. Flagship Harbor Advisors LLC increased its position 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 purchasing an additional 3,393 shares in the last quarter. LaFleur & Godfrey LLC purchased a new position in Entergy in the fourth quarter valued at approximately $217,000. Avior Wealth Management LLC lifted its position in Entergy by 324.3% during the fourth quarter. Avior Wealth Management LLC now owns 734 shares of the utilities provider’s stock valued at $56,000 after buying an additional 561 shares in the last quarter. Finally, Braun Stacey Associates Inc. grew its stake in Entergy by 88.8% during the fourth quarter. Braun Stacey Associates Inc. now owns 360,502 shares of the utilities provider’s stock worth $27,333,000 after buying an additional 169,511 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Entergy Trading Down 7.1 %

Shares of NYSE ETR opened at $79.02 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average price is $83.52 and its two-hundred day moving average price is $76.69. Entergy Corporation has a 52-week low of $50.19 and a 52-week high of $88.38. The stock has a market capitalization of $34.04 billion, a P/E ratio of 32.45, a PEG ratio of 2.34 and a beta of 0.56.

Entergy (NYSE:ETR) last posted its quarterly earnings results 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 business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the company posted $0.26 EPS. On average, analysts anticipate that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, February 10th. This represents a $2.40 annualized dividend and a yield of 3.04%. Entergy’s dividend payout ratio (DPR) is 98.77%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. 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 report on Tuesday, January 7th. JPMorgan Chase & Co. upped their target price on Entergy from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. BMO Capital Markets raised their target price on Entergy from $79.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Wells Fargo & Company upped their price target on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Evercore ISI lifted their price objective 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. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.75.

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.