Polymer Capital Management HK LTD Makes New Investment in Entergy Corporation (NYSE:ETR)

Polymer Capital Management HK LTD acquired a new stake in Entergy Corporation (NYSE:ETR) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,233 shares of the utilities provider’s stock, valued at approximately $1,079,000.

Several other hedge funds have also recently modified their holdings of the company. IHT Wealth Management LLC purchased a new stake in shares of Entergy during the third quarter valued at approximately $226,000. Quantinno Capital Management LP grew its stake in Entergy by 19.1% in the 3rd quarter. Quantinno Capital Management LP now owns 31,538 shares of the utilities provider’s stock valued at $4,151,000 after purchasing an additional 5,057 shares during the period. Stifel Financial Corp increased its position in shares of Entergy by 8.2% during the 3rd quarter. Stifel Financial Corp now owns 164,211 shares of the utilities provider’s stock valued at $21,612,000 after purchasing an additional 12,383 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Entergy during the 3rd quarter worth $625,000. Finally, XTX Topco Ltd purchased a new position in shares of Entergy in the 3rd quarter worth about $958,000. Institutional investors own 88.07% of the company’s stock.

Entergy Stock Down 7.1 %

Shares of NYSE:ETR opened at $79.02 on Monday. The company has a market cap of $34.04 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 2.34 and a beta of 0.56. Entergy Corporation has a one year low of $50.19 and a one year high of $88.38. The firm has a fifty day moving average price of $83.52 and a two-hundred day moving average price of $76.69. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.72 and a quick ratio of 0.59.

Entergy (NYSE:ETR) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.66 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the business earned $0.26 earnings per share. Analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Monday, February 10th. Entergy’s dividend payout ratio is currently 98.77%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Scotiabank decreased their price objective on shares of Entergy from $165.00 to $82.00 and set a “sector perform” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company lifted their price target on shares of Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley upped their price objective on Entergy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. boosted their target price on Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Finally, LADENBURG THALM/SH SH upgraded Entergy from a “neutral” rating to a “buy” rating and set a $86.50 price target for the company in a research note on Thursday, January 30th. Six investment 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 stock. According to MarketBeat.com, the stock presently has a consensus 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.